CSX Revenue Down, Earnings Up
CSX’s net earnings grew in the fourth quarter despite a drop in revenue. The Jacksonville,Fla.,-based railroad announced adjusted net earnings of $573 million or 64 cents a share for the fourth quarter, compared to $458 million and 49 cents for the same period of 2016.
CSX Stock Stabilizes Days After Death of CEO
CSX’s stock rose slightly Dec. 18 despite the death of the man who had been hired to bring the railroad new profitability.
CSX CEO Hunter Harrison Takes Medical Leave
Hunter Harrison has taken a medical leave from his position as CEO and president of CSX, the company announced Dec. 14. The railroad gave no details other than saying the leave was due to “unexpected complications from a recent illness.”
Changes at CSX Bring Complaints and Slowdown
CSX’s efforts to streamline its operations have brought complaints from customers about deteriorating service. But the head of the railroad is blaming the problems on resistance to change within the company.
500 Employees Lose Jobs in Jacksonville, Fla. as Part of CSX Layoffs
CSX has finished the layoffs it announced more than two weeks ago. The final numbers: 800 employees lost their jobs, including 500 in Jacksonville, Fla..
Railroad Executive Hunter Harrison has Reputation for Success and Record of Cost-Cutting
A month ago, few people in Jacksonville, Florida, probably ever heard of Hunter Harrison. But the 72-year-old Tennessee native has been almost a legend in the railroad world where he’s spent more than 50 years.
Report: CSX in Talks With Railroad Exec Hunter Harrison About Taking Top Spot at Company
CSX is in talks with a railroad executive who could end up taking over the company’s top spot, according to published reports. The Wall Street Journal reported Jan. 29 that CSX officials met in Atlanta on Jan. 27 with Hunter Harrison, who recently retired as CEO of Canadian Pacific Railway.
UPS to Spend $196 Million on Florida Facility
UPS Inc. announced plans Nov. 11 to invest $196 million in its ground package hub in Jacksonville, Florida. The expansion will add more than 260,000 square feet to UPS’ 560,000-square-foot building along with advanced technology and operations automation.