Very interesting. So he does not expect to stay much longer. Thats kind of big news.
Even though the stock may go up a little more is it time to bail if you own CSX stock ?.
https://www.bizjournals.com/jacksonville/news/2017/07/19/csx-ceo-drops-bombshell-during-earnings-call.html?ana=yahoo&yptr=yahoo
tree68 oltmannd CSX has been trending in the wrong direction with dwell and train speed the past 5 or six weeks. Yeah - but the stock is (more or less) going up!
oltmannd CSX has been trending in the wrong direction with dwell and train speed the past 5 or six weeks.
Yeah - but the stock is (more or less) going up!
Until today...
-Don (Random stuff, mostly about trains - what else? http://blerfblog.blogspot.com/)
This certainly does not look like an improvement in efficiency--slower running; longer dwell time in yards. It smacks of a desire to run the railroad--into the ground.
Johnny
oltmanndCSX has been trending in the wrong direction with dwell and train speed the past 5 or six weeks.
Larry Resident Microferroequinologist (at least at my house) Everyone goes home; Safety begins with you My Opinion. Standard Disclaimers Apply. No Expiration Date Come ride the rails with me! There's one thing about humility - the moment you think you've got it, you've lost it...
blue streak 1 Rumors Avon and Willard are both jammed up. Any truth ? y ?
Rumors Avon and Willard are both jammed up. Any truth ?
y ?
Dwell at Willard looks bad. The dwell in May was at or below 24 hours. A sign that a big hump is humming along. Last week it was at 42. For a given flow, the number of cars in inventory goes up linearly with dwell. So, if they've been moving classification work there, there are likely double the cars sitting there than there were in May.
Avon, in the past year, has had dwell around 30 hrs. It wasn't much worse last week. If memory serves, Avon used to run pretty well in the later days of Conrail. Lower 20s...
CSX has been trending in the wrong direction with dwell and train speed the past 5 or six weeks. When the current week numbers come out next Wednesday, we should know more.
My customers that are on CSX only lines that get resin from them and us both are calling nonstop going we need you to haul more into us as CSX is totally screwed up. One plant we serve had been waiting 1 week for a simple load of Styrofoam beads from CSX in a hopper. We have hauled 4 loads to them this week to keep their plant running a minimum level. We are running out of equipment needed to service our customers thanks to Harrison. We are trying to get more but it takes time. Thanks for about a 15 percentage growth in the fleet this year Harrison.
I agree, he's way over the top with his demands, but all the stockholders care about is the bottom line-will I get a nice dividend. I have read he's stopping all naps by crewmen when they are sitting there waiting on a train, used to be the head end crew could do power naps up to 45 mins, but that's gone. He reminds me of Carl Icahn who came to TWA with a bad rep for stripping a company. And that's exactly what he did, took what he wanted and left a pile of rubble behind, TWA was gone. Locally, we heard a lot about it because we were a hub for TWA and I flew with them many times on their Getaway Tours to Europe, they were an awesome airline. I have not been on a plane since that time, no need to fly any longer and that sounds like a nightmare today. TWA is like Frisco to me-Gone but not forgotten.
Newspaper column “Today in Washington” by David Lawrence, Feb. 4, 1937
https://en.wikipedia.org/wiki/David_Lawrence_(publisher)
If there is such a thing as anonymous fame, then Lionel C. Probert, who has just died in Los Angeles, won such a distinction.
Millions of persons read the story of the Zimmerman note just 20 years ago as it was first revealed to an astonished world by the Associated Press, but none except a few other newspapermen in the Washington office of that news association knew the author of the dispatch.
For the benefit of the generation which has been born since 1917, let it be recorded that Herr Zimmerman was the German minister to Mexico and that the German government instructed him to bring Japan and Mexico into an alliance with Germany as against the United States. The incident served to fan the flames of feeling against Germany, and shortly thereafter diplomatic relations between the Washington and Berlin governments were severed.
The exact way in which the note was intercepted has never been disclosed, but an Associated Press reporter, the late E. M. Hood, was given the message by the then secretary of state, Robert Lansing. When he came to the Associated Press office, "Dick" Probert, as he was called by his colleagues, developed further information about it and presented it to the readers of American newspapers in what proved to be a world-wide sensation.
For many years, "Dick" Probert wrote dispatches for the Associates Press on the outstanding events of the war period as they affected the United States. Probably few men in American history have written for as big an audience on so many important topics within a single period of vital history.
But "Dick" Probert’s writing ability was unknown to any except a few in his own profession. He was in charge of the staff sent by the "A.P." to Vera Cruz after American naval forces occupied that port and he accompanied President Wilson on the steamer George Washington to France and directed the staff of reporters who covered the Paris Peace Conference for the Associated Press.
When President Wilson retired from office, he donated to Reporter Probert the famous sheep which grazed on the White House lawn. Probert was the confidant of Mr. Wilson during the trying days of the peace conference and afterwards. After 22 years of service for the Associated Press, he went into the railroad busines—an early attachment. For in his boyhood he had been a fireman. He became a warm friend in those days of a locomotive engineer—J. J. Bernet—who was destined many years later to become the head of the Chesapeake and Ohio railway, an organization in which Probert became vice-president in 1927.
So after covering some of the most important news stories of his day, having been the chief of the all-important bureau of the Associated Press in the national capital, Probert turned to railroading, but with a definite idea that news principles could be introduced in a development department of a big transportation system. Incidentally, it was he who invented the slogan “sleep like a kitten,” which became the theme of the C&O’s passenger announcements.
It happens to be 13 years ago yesterday that President Wilson died, and Probert’s passing comes by coincidence in the same week. His wife died just a year ago. Probert had no surviving relatives and, except for his business associates and former colleagues in newspaper work, he probably is known by a handful of people, relatively speaking.
Yet his writings for nearly a score of years were the mainstay of Associated Press dispatches from Washington to the many millions of readers of newspapers which receive the Associated Press service. Nowadays the Associated Press and other press associations sign the dispatches of the reporters, especially on important happenings, so the anonymity which Probert experienced is a thing of the past.
“Dick” Probert had an amazing faculty, duplicated by few men in his profession. It was a skill of impromptu expression akin to that of the present-day radio announcers. He could sit at a typewriter and move his "copy" sheet after sheet to a telegraph wire without editing or changing his phrases. He knew what he wanted to say and could put down his thoughts on a typewriter faster than any other man in Washington. His fluency of style yet simplicity of expression were models for the younger news writers to imitate. But, apart from his writing, he was a remarkable reporter—one of the greatest of all times.
It is not with the idea of drawing invidious comparisons that I make mention of it—but, within the last sixty days, another great reporter—Arthur Brisbane—died. Millions who had read his writings knew Arthur Brisbane over a span of years, and articles about his death occupied many columns in American newspapers. Brisbane won fame. Probert won anonymity. He will be remembered only by those who, like myself, began working with him 34 years ago on the Buffalo Express and later assisted him on the Associated Press in Washington in the critical days of the European war. But his style and his aggressiveness as a news gatherer remain as a challenge to the new generation of Associated Press men who follow him.
NY Times, Feb. 3, 1937
L.C. Probert Dies; Rail Executive
Los Angeles, Feb. 2 (AP)—L.C. Probert, vice-president of the Cheasapeake & Ohio Railroad, died in the Good Samaritan Hospital here tonight of pneumonia, which developed from influenza. His age was 53. He was stricken ill a week ago on his annual trip here.
Before entering the service of the railroad company in 1927 he was for many years chief of the Washington bureau of the Associated Press.
Born in Batavia, N.Y., Nov. 18, 1883, Mr. Probert was employed as a locomotive fireman, engaged in engineering and railroad construction and then entered the newspaper business.
He resigned as chief of the Washington bureau of the Associated Press to re-enter railroad activity, and was successively vice-president of the Erie Railroad, the Pere Marquette and the Cheasapeake & Ohio.
There are no surviving relatives. His wife died a year ago. H.O. Bishop, general advertising agent for the Cheasapeake & Ohio, who accompanied Mr. Probert here, said tonight his body will be taken to Washington for funeral services. His home was at Homeland Farms, Olney, Md.
Mr. Probert was a reporter on the Buffalo Express and witnessed the assassination of President McKinley.
He entered The Associated Press service in 1905 and was successively a reporter, news editor and chief of the Washington bureau. In 1913 and 1914 he was head of the Associated Press staff in Mexico and from 1918 to 1927 was chief of the Washington staff. He accompanied President Wilson to Europe in 1919.
Known to hundreds of newspapermen as “Dick” Probert, his full name was Lionel Charles Probert. He married Miss Adelaide R. Tabor of Manlius, N.Y., in 1909.
As head of the Associated Press staff on the Mexican border in 1916 to Mr. Probert’s influence was attributed the improvement of censorship conditions encountered by the correspondents with the United States forces. On his return he became superintendent of the Southern Division and later, 1918-27, was chief of staff in Washington. He supervised the Associated Press reporting of the Peace Conference.
In 1927 he joined the executive staff of the Van Sweringen Lines, and when John J. Bernet became president of the Erie, Mr. Probert was appointed his assistant, and later vice-president.
Excerpt from diary of Adm. Cary T. Grayson (Woodrow Wilson’s physician), Dec. 4, 1918
http://www.woodrowwilson.org/digital-library/view.php?did=1063
The train arrived at Hoboken at seven o'clock. It backed through the streets to the Army wharves, the tracks being lined with men and women enroute to work who had stopped to cheer the President and to wish him God-speed on his momentous voyage. At the entrance to the large Army pier, formerly the home of the North German Lloyd Line, the President was greeted by a guard of honor of marines, blue-jackets and regular troops. Following the arrival of the train General McManus, Commandant of the Port, entered the President's car and presenting his compliments notified him that the Army Transport GEORGE WASHINGTON was in readiness and that he (McManus) was prepared to escort the President and Mrs. Wilson on board at their convenience. The President told the General that he would have breakfast first in the car, and the train waited outside of the dock until shortly after 7:45, when the President and Mrs. Wilson left the car and passed between lines of soldiers with their rifles at the “present” into the dock area. The approach to the dock and the upper story of the dock building was wonderfully festooned in flags and bunting. Escorted by the Army chiefs and by Captain McCauley of the GEORGE WASHINGTON, the President and Mrs. Wilson and myself passed through and went immediately on board the steamer. The President went at once to his office, where he gave an interview to R.J. Bender, of the United Press; J.E. Nevin, of the International News Service; and L.C. Probert, of the Associated Press,—the three correspondents whom he had invited to accompany him to Europe.
There’s a photo of Wilson, Grayson and the 3 reporters.
https://books.google.com/books?id=yw8oDwAAQBAJ&pg=PT197&dq=%22president+wilson+his+personal+physician%22&hl=en&sa=X&ved=0ahUKEwjo5I_TxZTVAhUEeD4KHTfjCH4Q6AEIJjAA#v=onepage&q=%22president%20wilson%20his%20personal%20physician%22&f=true
In the photo in the book linked to above, the future inventor of the Chessie kitten is standing at Wilson’s side. Here he is almost completely blocked but partly visible to my eye.
The Legend of Chessie by Matchpro
http://www.matchpro.org/Archives/2015/Chessie.pdf
We need a tongue-in-cheek emoticon.
_____________
"A stranger's just a friend you ain't met yet." --- Dave Gardner
Thanks, wanswheel. It's perfect.
The battle-worn Japanese naval ensign which Peake has brought home as a war souvenir seems to me to indicate he must be a veteran of the Pacific theatre, and most likely he's been with the Marines.
https://www.amazon.com/Chessie-Railroad-Kitten-Thomas-Dixon/dp/096220031X#reader_096220031X
Electroliner 1935 Did Peak ever sleep, We know Chessie did as did her kittens but I don't recall whether Peak ever did. (Or was its name Peake?)
Did Peak ever sleep, We know Chessie did as did her kittens but I don't recall whether Peak ever did. (Or was its name Peake?)
"It's" name? That proud cat's name is Peake! A member of the Greatest Generation, he was/ (is?) a World War II veteran. As evidence, I respectfully direct your attention to the 1946 calendar of the C&O Railway. Although Peake made his first appearance about 1937, the 1946 picture of him as a wounded but returned veteran, being proudly admired by his kittens, always makes me smile. Wanswheel, can you find us that picture of Peake? And no, Peake isn't a sleeper or even a napper; he stands guard over Chessie so she can sleep!
A few months ago I was invited to speak to another local women's service organization about railroads. This time I spoke about women and their influence on railroading. When I mentioned a few specific women, such as Kate Shelley and even Phoebe Snow, there was no obvious recognition. But when I mentioned Chessie ( I know she wasn't/isn't a woman, but work with me here, OK?), every face in the group brightened up! They all knew who Chessie was! This is probably the result of our town being on the old B&O/Chessie main line as much as the advertising of a half century ago.
Perhaps not as well known as is the mother of his kittens, I nevertheless salute Peake, a dad and a proud veteran!
Sounds like precision that requires ignoring reality. I can imagine the resulting boondoggle with that. Not like they have a sky hook like we do in model railroading.
Paul of Covington Seems to me if EHH could keep the trains moving all the time there would be no opportunity for naps and therefore no need to outlaw them.
Keeping trains moving both ways on single track lines can create serious issues. There is still a lot of single track on CSX. Bigger trains have fewer and fewer locations on a line where they can meet.
Never too old to have a happy childhood!
Seems to me if EHH could keep the trains moving all the time there would be no opportunity for naps and therefore no need to outlaw them.
wanswheel http://www.foxbusiness.com/features/2017/07/14/no-more-naps-on-railroad-says-new-csx-boss.html
http://www.foxbusiness.com/features/2017/07/14/no-more-naps-on-railroad-says-new-csx-boss.html
Should also have a rule of no personal oxygen tanks on company property.
Guaranteed. Half the Willard hump shut down recently. All part of the scheduled improvements. CSX put out a letter to customers advising them of an additional 72 hours transit time as part of the "Precision Railroading implementation". NS doubled dwell to 50 hours when they shut down Chatt, so the sky is the limit with HH at the helm.
schlimm BaltACD My family had a realtionship with the B&O Railroad and it's successors from one member of the family that marched in the parade to celebrate the laying of the 'First Stone' of the B&O on July 4, 1828 until I retired on December 19, 2016 after 51.5 years of service. In retrospect, I am glad I got out when I did, between the Trump Bump and the EHH Bubble my 401K did well, now most of the 'profits' have been socked away in a 'stable interest fund'. As I said before, that and your family's years of service with one company is outstanding and also rare. Murphy: Norwegian? Pretty fine, even if you were only born into it!
BaltACD My family had a realtionship with the B&O Railroad and it's successors from one member of the family that marched in the parade to celebrate the laying of the 'First Stone' of the B&O on July 4, 1828 until I retired on December 19, 2016 after 51.5 years of service. In retrospect, I am glad I got out when I did, between the Trump Bump and the EHH Bubble my 401K did well, now most of the 'profits' have been socked away in a 'stable interest fund'.
My family had a realtionship with the B&O Railroad and it's successors from one member of the family that marched in the parade to celebrate the laying of the 'First Stone' of the B&O on July 4, 1828 until I retired on December 19, 2016 after 51.5 years of service.
In retrospect, I am glad I got out when I did, between the Trump Bump and the EHH Bubble my 401K did well, now most of the 'profits' have been socked away in a 'stable interest fund'.
As I said before, that and your family's years of service with one company is outstanding and also rare.
Murphy: Norwegian? Pretty fine, even if you were only born into it!
Thanks to Chris / CopCarSS for my avatar.
C&NW, CA&E, MILW, CGW and IC fan
BaltACD My family had a realtionship with the B&O Railroad and it's successors from one member of the family that marched in the parade to celebrate the laying of the 'First Stone' of the B&O on July 4, 1828 until I retired on December 19, 2016 after 51.5 years of service.
Scmucks that bought the CSX stock-----. Well, I accumulated quite a bit of it by payroll deduction but when EHH took over and it went up 30% or so, I started selling it and diversifying it on the advice of my tax man and my wealth manager. The problem then is to consider this.
1. I paid income tax on the money used to buy it.
2. I paid income tax on the dividends.
3. I paid capital gains taxes when I sold it.
4. Thanks to that capital gain, now starting next year, I get a huge increase in the price of Medicare premiums until my income drops back to a lower level.
I plan to rid myself of most all CSX stock before the big drop comes.
Think about that when you think you are greedy------
You are quite correct. I am a retired CSXer and minority stock holder and I voted NO on the issue, but I am but an eyedropper trying to fill a large ocean. EHH is under a 4 year contract which only means he may stretch out the looting of the company for a while, but he will get it done. Meanwhile, there are emerging signs that some shippers are upset with his methods and guess what, there are few if any towns east of the Mississippi, served by CSX, that are not also served by NS, and then there is always trucks. EHH will use any means at hand to eliminate Amtrak from the property as well unless the current regime in DC does that for him. Many of my friends are out of work, and these were not under utilized folks by any stretch. Now those that remain are worked to death and many of them will quit, which is also part of the plan.
Jeff,
It has been my observation over the years that there are always "Vulture Capitalists" just waiting/lurking in the wings, and watching for corporations that appear to be getting in financial trouble. "Ah, fresh roadkill". Let's get them while they are weak, have a feast eating their lunch and leaving the carcasses behind to rot. That has likely been going on since before the days of the "Robber Barons". They give no quarter, profiteer, and in many cases leave the corporation a shambles. Management gets huge salaries for taking down some companies, think Sears Holdings. I don't think Harrison could do much to improve UP, and of course BNSF is off the table at this point.
Will Harrison benefit CSX? Remains to be seen in a few years. While he did some good things while at CN and CP, CSX is a much different railroad than the others. Harrison wasn't perfect at the other two and current management there are still "picking up the pieces" of his mistakes. While Harrison is an experienced railroader from the ground up. His mission is to improve the stock value, and a majority of the support he has for doing so comes from intitutional investors and those with large stock ownership.
Norm
jeffhergertAbout a year or so ago there were rumors going around that UP was afraid of a hostile takeover. At the time there stock was relatively low and someone (never heard exactly who) was buying up a lot of their stock. UP has had their own cost cutting/stock boosting plan going on. They call it G-55. The 55 is what they want to get the operating ratio down to. The propaganda calls for growing the business, doing things better, maybe not doing some things (like perhaps getting rid of all the smaller, work intensive customers) and a goal of zero injuries. Most of what field personnel see is cost cutting. (My personal opinion is that with all the fiefdoms in the company, most cutting seems to enhance one person's department at the expense of another. The company overall really isn't saving much, but parts of it will be showing outstanding savings.) When it first started I felt like it was an attempt to fend off someone like EHH. Do it to themselves before someone else comes in and does it to them. BTW, EHH can't go after UP or BNSF for a few years because of a clause in his release from CPRS. I read somewhere that after the time expires (3 or 4 years), one anaylst thought EHH may try to pull of a merger with one of the western roads. If he lives that long. Jeff
Maybe they are just better on the investor calls (CSX was really bad in comparison). I notice the innovations when I watch youtube or do reading or ride parts of UP on Amtrak are far more visible than other railroads, IMO. Seems also like UP is more transparent to the public as well.....when there is an accident or community concern. Also have ridden Chicago-LA via Las Vegas Line (this route was rather slow), Chicago to SFO via Wyoming Line (long time ago), Dallas to Chicago and back several times on Texas Eagle. Always seem to keep things moving without huge delays.
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