7061 East Pleasant Valley Road, Independence, Ohio 44131 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Information
Secretary-Treasurer
Merchandise
Communications
FELA
Events
Links
User Info

CSX chief says he ‘can’t be part of’ Obama high-speed rail plan

(Bloomberg News circulated the following on April 6, 2011.)

JACKSONVILLE, Fla. — CSX Corp. (CSX) “can’t be part of” President Barack Obama’s rail vision because passenger trains don’t make money and high-speed trains don’t belong on freight tracks, Chief Executive Officer Michael Ward said.

“I’m a corporation. I exist to make money, OK?” Ward said today in an interview at Bloomberg’s New York office. “You can’t make money hauling passengers, so why would I want to do that? That wouldn’t be fair to my shareholders.” CSX is the third-largest major freight railroad in the U.S. by revenue.

If CSX were to advocate for high-speed rail, he said, “it’s then ‘why aren’t you donating part of your infrastructure to that?’ which I can’t do and be true to my obligation to my shareholders.”

The full story is on the Bloomberg website.

Thursday, April 7, 2011

Like us on Facebook at
Facebook.com/BLETNational

Sign up for BLET News Flash Alerts

© 1997-2020 Brotherhood of Locomotive Engineers and Trainmen

 


Decertification Helpline
(216) 694-0240

National Negotiations

Sign up for BLET
News Flash Alerts

DAILY HEADLINES

Canadian mainline railway accidents in 2019 up 42% over 10-year average
Rail stakeholders: Tough road ahead for infrastructure bill
Is Amtrak leveraging the pandemic to permanently cut train service?
Union Pacific EVP Whited sells $855,400 in company stock
Canada’s two largest railways move record grain in June, second quarter
Rail volumes make slow recovery but KCS keeps capacity tight
Amtrak offers buy-one, get-one promotion on its sleeper trains amid COVID-19, but there’s a catch
Norfolk Southern worker says he was hurt falling on steps on the job in W.Va.
FRA announces more than $500,000 in grants to deter trespassing
Q&A: Unemployment and sickness benefits for railroad employees
Get the latest labor news from the Teamsters

More Headlines