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Posted by charlie hebdo on Saturday, January 2, 2021 8:31 PM

I think BK has been held by other companies for years,  coinciding with decline.  Tim Horton's is in a very different niche.  That sort of arrangement seldom works out. 

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Posted by Backshop on Saturday, January 2, 2021 7:32 PM

Burger King is like Avis.  Both were happy and laughed about being #2.  The problem is if you rest on your laurels, you soon drop to 3, and then 4, and then 5, etc.

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Posted by charlie hebdo on Saturday, January 2, 2021 6:54 PM

Overmod

 

 
Lithonia Operator
When I was a kid in Gulfport MS, I thought it was a big deal that IC came there. I never would have dreamt that someday CN would.

 

Just as I'd never dream that someday Tim Horton's would own Burger King.

 

 

Is that related to BK's decline?  

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Posted by jeffhergert on Saturday, January 2, 2021 6:07 PM

JPS1
Presumably the compensation package for an employee, say an engineer, on a short line or regional railroad is less than that for someone on one of the Class 1s.  What are the reasons that someone would go to work for a short line or regional railroad?
 
Along the same lines, I have ridden the Durango and Silverton five times.  How would the compensation package for an engineer, as an example, on this operation compare to that of a Class 1 or major regional? 
 

As Tree said, regular hours/days. 

Another might be the line is sold to a short line and someone doesn't want to move. 

Keep a connection to railroad retirement if terminated or furloughed.  (I've known guys who were furloughed and temporarily went to work for short lines/regionals until recalled.  Some places now won't hire someone unless they can prove you've given up any seniority recall rights on another railroad.) 

The short line/regional is hiring.  Barring loss of a major source of traffic, short lines and regionals also may be more stable in their numbers.  Less swings in traffic with the resulting furloughs and recalls.

Jeff 

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Posted by Backshop on Saturday, January 2, 2021 5:30 PM

charlie hebdo
 

And at least one CEO involved in bankruptcy got golden showers! 

I saw what you did there...Whistling

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Posted by Overmod on Saturday, January 2, 2021 9:55 AM

Lithonia Operator
When I was a kid in Gulfport MS, I thought it was a big deal that IC came there. I never would have dreamt that someday CN would.

Just as I'd never dream that someday Tim Horton's would own Burger King.

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Posted by MMLDelete on Saturday, January 2, 2021 2:11 AM

SD70Dude

 

 
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SD70Dude
most railroaders leave this job by retirement, resignation, or being fired.

Other than being carried out in a body bag, doesn't that sum up the ways people leave all jobs?  ???

 

 

Yes, as long as the employer remains solvent.

I was simply countering his example of people who are unfortunate enough to see their employment evaporate for reasons that are outside their control.  

Of the remaining Class I railroads, when was the last time a core component of any of them went bankrupt?  Milwaukee, Rock Island and Penn Central come to mind, and there were warning signs in all those cases for years before they finally took the plunge.  

I feel quite comfortable with my current investment in CN stock.  

 

Oh, okay. I should have realized that. CN's matching of 1/3 is a nice perk. And CN does seem to be doing very well.

When I was a kid in Gulfport MS, I thought it was a big deal that IC came there. I never would have dreamt that someday CN would.

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Posted by Backshop on Friday, January 1, 2021 6:45 PM

JPS1
Presumably the compensation package for an employee, say an engineer, on a short line or regional railroad is less than that for someone on one of the Class 1s.  What are the reasons that someone would go to work for the short line or regional railroad? 

Here in Michigan, CSX has been slowly selling lines to shortlines/regionals, most notably Lakes State Railway, the old Detroit & Mackinac. First they sold the Saginaw-Flint portion and just recently bought the Flint-Plymouth line.  I'm sure there were some CSX employees who were settled in Saginaw and Flint that were settled and didn't want to commute to work. If you live simply, you don't need as much money or the headache of being on call all the time.

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Posted by tree68 on Friday, January 1, 2021 6:41 PM

JPS1
What are the reasons that someone would go to work for the short line or regional railroad?

Regular hours, probably home every night.

LarryWhistling
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Posted by JPS1 on Friday, January 1, 2021 6:36 PM
Presumably the compensation package for an employee, say an engineer, on a short line or regional railroad is less than that for someone on one of the Class 1s.  What are the reasons that someone would go to work for a short line or regional railroad?
 
Along the same lines, I have ridden the Durango and Silverton five times.  How would the compensation package for an engineer, as an example, on this operation compare to that of a Class 1 or major regional? 
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Posted by SD70Dude on Friday, January 1, 2021 2:56 PM

Yes, I've been laid off during slow times.  It happens to pretty much everyone here at least once when they are new.  But a nice quirk of the seniority system is that they have to recall you before hiring someone else to replace you, and you can also temporarily transfer somewhere else if you can hold there.  

Those past financial problems of CN and CP were all during the regulated era, which lasted until about 1990 in Canada.  You'll surely recall the Crow Rate, which dragged down both railways along with all the unprofitable branchlines and passenger trains they were forced to continue operating.  CN had far more of those than CP, and also had the added burdens of operating the Newfoundland and Prince Edward Island railways, as well as the ferry services for all of Atlantic Canada.  

The core freight operations of both railways always made money, and that is what remains today.  

If your line is sold or abandoned, you can hire on with the new operator or transfer somewhere else you can hold, as I outlined above.  Many employees were also bought out or given early retirement options during the 1990s as the railways tried to reduce their headcounts, I believe a past President/CEO of Illinois Central (before Hunter Harrison) pioneered this approach.  

On CN, as part of the Conductor-only/cabooseless train agreement all existing train service employees were guaranteed jobs, and could not be laid off.  This protection applied to anyone who was hired before the effective date sometime in 1990.

The privatized and deregulated company has done quite well and continues to do so.  I do keep an eye on the numbers and watch for signs of the world changing (this is ttrraaffiicc's cue to tell me to sell out now), but so far the going is still good.  

Greetings from Alberta

-an Articulate Malcontent

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Posted by Backshop on Friday, January 1, 2021 2:35 PM

SD70Dude

Boeing's decline started longer ago than you think, when the former M-D management started taking over.

And you've obviously never worked for a Class I railroad.  We are under no illusions about how inept management is, and yet the company continues to make money in spite of itself.   

I don't have exact statistics, but most railroaders leave this job by retirement, resignation, or being fired. 

1. We were talking stock prices.

2. You've never been furloughed?

3. Yep, companies make money...until they don't.

4. I'm not sure which Canadian road you work for, but I'm old enough to remember CP and CN both having financial problems, along with CN's predecessors in the states--IC and GTW.

5. Many have also left employment when their line/division was sold/abandoned.

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Posted by SD70Dude on Friday, January 1, 2021 1:54 PM

Lithonia Operator
SD70Dude
most railroaders leave this job by retirement, resignation, or being fired.

Other than being carried out in a body bag, doesn't that sum up the ways people leave all jobs?  ???

Yes, as long as the employer remains solvent.

I was simply countering his example of people who are unfortunate enough to see their employment evaporate for reasons that are outside their control.  

Of the remaining Class I railroads, when was the last time a core component of any of them went bankrupt?  Milwaukee, Rock Island and Penn Central come to mind, and there were warning signs in all those cases for years before they finally took the plunge.  

I feel quite comfortable with my current investment in CN stock.  

Greetings from Alberta

-an Articulate Malcontent

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Posted by MMLDelete on Friday, January 1, 2021 12:57 PM

SD70Dude
most railroaders leave this job by retirement, resignation, or being fired.

Other than being carried out in a body bag, doesn't that sum up the ways people leave all jobs?  ???

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Posted by SD70Dude on Friday, January 1, 2021 12:06 PM

Backshop

This is the problem with investing in your own company's stock.  Your most common reason that you would need to sell the shares is because you lost your job.  The reason that you probably lost your job is that the company was doing lousy.  So, right when you need the money the most, is when the shares are worth the least.  Every employee, whether they admit it or not, looks at their employer through rose tinted glasses.  They think "I wouldn't work for a loser so it's a fine company".  No, it's not. Just in the last year, a formerly great company took a dive.  Boeing was world-class until the 737 Max debacle.  Yes, it's coming back, but nobody would've expected what happened to them

Boeing's decline started longer ago than you think, when the former M-D management started taking over.

And you've obviously never worked for a Class I railroad.  We are under no illusions about how inept management is, and yet the company continues to make money in spite of itself.  It's almost like working for a cartel, in that we effectively have a monopoly providing something that is in high demand.  

I don't have exact statistics, but most railroaders leave this job by retirement, resignation, or being fired.

Having said that, I am under no illusions about how volatile the stock market can be, and over time my shares will end up being converted into other things, like a house.  

Greetings from Alberta

-an Articulate Malcontent

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Posted by charlie hebdo on Friday, January 1, 2021 11:53 AM

BaltACD

 

 
Flintlock76
 
Backshop
They think "I wouldn't work for a loser so it's a fine company".  No, it's not. 

That can be bitterly true in so many cases.  When we moved to Richmond VA 33 years ago Reynolds Metals was a powerhouse employer and a local icon.  Then about ten years later the whole thing crashed and burned.  Bad upper management decisions, that's all it took.  Sometimes that's all it takes.

In fact, there were a number of places I visited over the years on the job and thought "You know? This looks like a pretty good place to work!  Nice facilities, good employee morale, the works!"  And then a lot of those same places crashed and burned like Reynolds did, and for the same reason.

One thing it taught me was "Don't think the grass is greener on the other side of the fence!"  

 

The sad thing about most of those 'busts' was that the Senior Management that wrecked the company and the lives of their thousands of employees went into the sunset on the wings of Golden Parachutes as very wealthy individuals, despite all the wreckage they created.

 

And at least one CEO involved in bankruptcy got golden showers! 

The old adage is true.  "Never put all your eggs in one basket."

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Posted by BaltACD on Friday, January 1, 2021 10:58 AM

Flintlock76
 
Backshop
They think "I wouldn't work for a loser so it's a fine company".  No, it's not. 

That can be bitterly true in so many cases.  When we moved to Richmond VA 33 years ago Reynolds Metals was a powerhouse employer and a local icon.  Then about ten years later the whole thing crashed and burned.  Bad upper management decisions, that's all it took.  Sometimes that's all it takes.

In fact, there were a number of places I visited over the years on the job and thought "You know? This looks like a pretty good place to work!  Nice facilities, good employee morale, the works!"  And then a lot of those same places crashed and burned like Reynolds did, and for the same reason.

One thing it taught me was "Don't think the grass is greener on the other side of the fence!"  

The sad thing about most of those 'busts' was that the Senior Management that wrecked the company and the lives of their thousands of employees went into the sunset on the wings of Golden Parachutes as very wealthy individuals, despite all the wreckage they created.

Never too old to have a happy childhood!

              

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Posted by Flintlock76 on Friday, January 1, 2021 9:52 AM

Backshop
They think "I wouldn't work for a loser so it's a fine company".  No, it's not.

That can be bitterly true in so many cases.  When we moved to Richmond VA 33 years ago Reynolds Metals was a powerhouse employer and a local icon.  Then about ten years later the whole thing crashed and burned.  Bad upper management decisions, that's all it took.  Sometimes that's all it takes.

In fact, there were a number of places I visited over the years on the job and thought "You know? This looks like a pretty good place to work!  Nice facilities, good employee morale, the works!"  And then a lot of those same places crashed and burned like Reynolds did, and for the same reason.

One thing it taught me was "Don't think the grass is greener on the other side of the fence!"  

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Posted by Backshop on Friday, January 1, 2021 8:29 AM

This is the problem with investing in your own company's stock.  Your most common reason that you would need to sell the shares is because you lost your job.  The reason that you probably lost your job is that the company was doing lousy.  So, right when you need the money the most, is when the shares are worth the least.  Every employee, whether they admit it or not, looks at their employer through rose tinted glasses.  They think "I wouldn't work for a loser so it's a fine company".  No, it's not. Just in the last year, a formerly great company took a dive.  Boeing was world-class until the 737 Max debacle.  Yes, it's coming back, but nobody would've expected what happened to them

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Posted by tree68 on Thursday, December 31, 2020 9:22 PM

Dad worked for GM at their Proving Grounds.  He took part in their stock program - although I have no idea of the details, or how many shares he held when he passed. 

At the time (1960's), the US automakers were going concerns.  A downturn would be unthinkable.

LarryWhistling
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Posted by SD70Dude on Thursday, December 31, 2020 8:23 PM

charlie hebdo
Backshop

While B-H is different than others because it's an investment group, it's generally a bad idea to invest too much of your money in your own employer.

Very true!   And wise to not invest to large a percentage of an equity portfolio in any one or two companies or sectors. 

Like many companies, CN has a employee share investment program, and they match 1/3 of what you invest, up to 6% of your earnings.  So your shares have to lose 25% of their value before you lose anything.  

Most running trades employees do this, myself included.  

CN suspended their contribution after the pandemic started (which was effectively a pay cut for us), but have since reinstated it.  

Greetings from Alberta

-an Articulate Malcontent

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Posted by SFbrkmn on Thursday, December 31, 2020 8:11 PM
First job in the industry I interviewed was w/KS Southwestern around 1996. Waste of time. Oh, they were ready to hire me. When the soft yaking moved to a wage issue, my thought was get me the you-know-what outta here. This would have involved taking a pay reduction from my wages @ Cargill w/no security or union protection. Made the wise choice to decline the invite, and finally obtained the class 1 earnings 2 or 3 yrs later.
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Posted by charlie hebdo on Monday, December 28, 2020 12:36 PM

Backshop

While B-H is different than others because it's an investment group, it's generally a bad idea to invest too much of your money in your own employer.

 

Very true!   And wise to not invest to large a percentage of an equity portfolio in any one or two companies or sectors. 

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Posted by Backshop on Monday, December 28, 2020 9:18 AM

While B-H is different than others because it's an investment group, it's generally a bad idea to invest too much of your money in your own employer.

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Posted by NP Eddie on Sunday, December 27, 2020 10:32 PM

Many BNSF employees sign up for payroll deduction for Berkshire Hathaway stock. I started having a Northern Pacific stock deduction from my paycheck when it was offered about 1968 or so. This continued to the BN and finally BNSF.

 

Retired clerk from Northtown (Minneapolis)

 

 

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Posted by Gramp on Sunday, December 27, 2020 10:21 PM

Jeff, do many railroaders who are union members own common stock of the railroad (Berkshire Hathaway for BNSF) that they work for?

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Posted by jeffhergert on Sunday, December 27, 2020 6:35 PM

SD70Dude

 

 
jeffhergert

Some short line companies have tried setting themselves up in a way as to not have to belong to railroad retirement.    

Jeff

 

 

Along those lines, remember how Guilford/Pan Am tried leasing all their other subsidiaries to Springfield Terminal, essentially making the largest interurban ever, at least for pay and work rule purposes.

 

BN threatened to do the same many years ago when they wanted to start getting rid of brakemen.  They threatened to lease the northern transcon line to the Winona Bridge Company. the entity that on paper owned the Mississippi River bridge.

Jeff

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Posted by Backshop on Sunday, December 27, 2020 3:33 PM

SD70Dude

 

 
jeffhergert

Some short line companies have tried setting themselves up in a way as to not have to belong to railroad retirement.    

Jeff

 

 

Along those lines, remember how Guilford/Pan Am tried leasing all their other subsidiaries to Springfield Terminal, essentially making the largest interurban ever, at least for pay and work rule purposes.

 

They should be lucky that they have a job! (sarcasm).

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Posted by SD70Dude on Sunday, December 27, 2020 3:28 PM

jeffhergert

Some short line companies have tried setting themselves up in a way as to not have to belong to railroad retirement.    

Jeff

Along those lines, remember how Guilford/Pan Am tried leasing all their other subsidiaries to Springfield Terminal, essentially making the largest interurban ever, at least for pay and work rule purposes.

Greetings from Alberta

-an Articulate Malcontent

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