A 25 percent steel tariff means the price of steel will rise. CSX railways will pass along that price to its customers, says CEO Jim Foote. "Over time that cost, like everything, gets passed on," he says. A bigger concern for the company, he says, is the future of NAFTA. show chapters CSX CEO: Tariffs…
Posts published in “Day: March 1, 2018”
(Recasts with CEO's comments, adds details on capital spending) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and will also slash capital spending. Harrison, an…
(Adds investor comment) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and would also slash capital spending. Harrison, an investor favorite for leading turnarounds of…
The Stockton Terminal and Eastern Railroad (STE) in California has received a grant from the San Joaquin Valley Unified Air Pollution Central District (UAPCD) for the purchase of a new locomotive.Under the grant program, the UAPCD is providing cash incentives for the purchase of the environmentally friendly locomotive, according to OmniTRAX Inc., the railroad's parent.The…
The purchase is expected to enable FreightCar to "be more responsive to customer needs," said President and CEO Jim Meyer. Photo – freightcaramerica.net FreightCar America Inc. has agreed to purchase Navistar Inc.'s rail-car operations assets at its Shoals facility in Cherokee, Alabama. Since 2013, FreightCar has subleased a large portion of the Shoals facility. As…