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What’s going on at CSX? The STB wants to know!


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#11 CNJRoss

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Posted 06 September 2017 - 02:21 PM

Progressive Railroading, 9/6/17:

 
CSX reports progress in shift to new operating model

 

CSX has made "very good progress" in its transition to a precision scheduled railroading model, with the railroad returning to a "normal operating rhythm," President and Chief Executive Officer E. Hunter Harrison announced today.

Harrison is now confident many of the service problems recently reported by CSX customers "are behind us," according to a CSX press release.

"Fluidity in our terminals largely has been restored and we are appropriately resourced to continue making progress. Car dwell has improved from week to week for the last five weeks, and system-wide velocity is increasing," said Harrison. "I am confident that as CSX continues to implement the precision scheduled railroading model, it will provide profound and lasting benefits to customers, employees and shareholders."

 

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#12 CNJRoss

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Posted 06 September 2017 - 02:30 PM

CSX news release:

 
CSX Reports Improved Progress in Implementing Precision Scheduled Railroading

 

 

JACKSONVILLE, Fla. – September 6, 2017 – CSX President and Chief Executive Officer E. Hunter Harrison today said, “CSX has made very good progress in the last 60 days in transitioning its operating model to Precision Scheduled Railroading, and I’m confident that many of the challenges we and our customers have recently faced are behind us. The CSX team of dedicated railroaders has worked tirelessly over the last few months to implement our new operating model and moved as quickly as possible to address customer issues when they arose.”

 

“The railroad is now returning to a normal operating rhythm, and our performance metrics are improving,” Harrison added. “Fluidity in our terminals largely has been restored and we are appropriately resourced to continue making progress. Car dwell has improved from week to week for the last five weeks, and system-wide velocity is increasing. I am confident that as CSX continues to implement the Precision Scheduled Railroading model, it will provide profound and lasting benefits to customers, employees and shareholders.”

 

This improvement and the company’s views will be described in greater detail by Frank Lonegro, CSX’s executive vice president and chief financial officer, at the Cowen and Company’s 10th Annual Global Transportation conference in Boston, Mass. As previously announced, Lonegro’s presentation, which will be webcast, is scheduled for today, Wednesday, September 6, at 8:35 a.m.

 

Lonegro will outline certain operating and financial information, including (i) that the Company continues to expect free cash flow before dividends (excluding restructuring charges) of around $1.5 billion and record efficiency gains for 2017; (ii) that in light of various operating challenges in July and August 2017, the Company is refining its 2017 full-year guidance from an operating ratio in the mid-60s to an operating ratio around the high end of the mid-60s and earnings per share growth from around 25 percent to a range of 20-25 percent, in each case after excluding restructuring charges and (iii) that the Company has completed approximately $1.3 billion of its $1.5 billion authorized share repurchase program.

 

The webcast and presentation will be accessible through http://investors.csx.com. A replay and accompanying audio will be available following the conclusion of this event.

 

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#13 CNJRoss

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Posted 06 September 2017 - 07:09 PM

STB news release, 9/6/17:

 

SURFACE TRANSPORTATION BOARD TO  SURFACE TRANSPORTATION BOARD TO POSTPONE PUBLIC LISTENING SESSION ON CSX RAIL SERVICE ISSUES DUE TO HURRICANE IRMA   ecblank.gifecblank.gifecblank.gif
 

 

The Surface Transportation Board announced today that due to the National Hurricane Center’s latest projected track of Hurricane Irma, which shows the hurricane making landfall in south Florida in the early morning of Monday, September 11, 2017, the agency will postpone its public listening session concerning CSX Transportation, Inc.’s (CSX) rail service issues that was scheduled for next Tuesday, September 12, 2017.

The Board understands that CSX and many rail shippers are currently focused on hurricane preparedness efforts in areas that could be affected by the storm. The Board does not want to divert attention or resources from those necessary activities, nor does the Board believe that it would be appropriate to require CSX’s senior management team to be in Washington, D.C., and away from its Jacksonville, FL headquarters should a potentially catastrophic hurricane make landfall early next week. Accordingly, the Board will postpone the listening session, but intends to reschedule it as soon as practicable.

The Board’s Postponement Notice in Public Listening Session regarding CSX Transportation, Inc.’s Rail Service Issues, Docket No. EP 742, and Joint Petition of Foresight Coal Sales, LLC, Sugar Camp Energy, LLC, Williamson Energy, LLC, and Consolidation Coal Company to Address the Adequacy of CSX Transportation’s Coal Transportation Service Originating in the Illinois Basin and Northern Appalachia, Docket No. EP 741, may be viewed and downloaded at www.stb.gov, under "E-LIBRARY / Decisions & Notices / 09 / 06 / 17".

 

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#14 CNJRoss

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Posted 07 September 2017 - 07:47 AM

Material Handling & Logistics, 9/1/17:
 

CSX Service Disaster Steps Up Scrutiny by Congress and the STB

 
Defiant CSX CEO Harrison insults shippers, blames employees and fails to respond to STB information demands—but Wall Street still loves him.

 

 

Extensive delays and communications breakdowns throughout the CSX Transportation rail system spurred the Surface Transportation Board to schedule a public listening session for Sept. 12 to hear from shippers and other stakeholders about service issues that have threatened to close factories and added significant costs to business operations.

 

The STB action arose from continuing service failures being brought to its attention by the railroad’s customers and members of Congress hearing about the problems from constituents.

 

Even Amtrak is blaming worsening delays in its Midwest passenger service on CSX regularly halting Amtrak’s passenger trains so that its freight trains may pass to make up for delays elsewhere. CSX denied it had deliberately done this, but Amtrak says it has evidence that the CSX actions were intentional and in violation of its contract with the passenger railroad owned by the federal government.

 

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#15 CNJRoss

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Posted 07 September 2017 - 11:41 AM

AP 9/6/17:
 

CSX says its rail service is improving after major delays

 

 

OMAHA, Neb. (AP) -- CSX railroad said Wednesday that its service is improving after a summer marked by delays as it overhauled its operations.

 

But despite the reported improvements, the Jacksonville, Florida-based railroad trimmed its profit outlook. It now expects profit to improve between 20 and 25 percent over last year's earnings per share of $1.81. Previously, CSX had predicted 25 percent profit growth.

 

 

New CEO Hunter Harrison said in a statement that the railroad has made good progress implementing his operating model, but the extensive changes involved did delay some deliveries over the summer.

 

"The railroad is now returning to a normal operating rhythm, and our performance metrics are improving," Harrison said.

 

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#16 CNJRoss

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Posted 07 September 2017 - 11:44 AM

Jacksonville (FL) Business Journal, 9/6/17:
 

CSX CEO says railroad is "returning to normal operating rhythm"

 

 

CSX Corp. (Nasdaq: CSX) CEO Hunter Harrison issued a statement Wednesday that the railroad had turned a corner, saying he was confident that "many of the challenges we and our customers have recently faced are behind us."

 

The Jacksonville-based railroad faced widespread criticism from customers in recent months for unpredictable transit times, railcars that sat for days at yards, unreliable switching operations and unhelpful customer service personnel.

 

"The railroad is now returning to a normal operating rhythm, and our performance metrics are improving," Harrison said. "Fluidity in our terminals largely has been restored and we are appropriately resourced to continue making progress. Car dwell has improved from week to week for the last five weeks, and system-wide velocity is increasing."

 

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#17 CNJRoss

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Posted 20 September 2017 - 06:33 PM

Cross-posted in:  STB Postpones CSX Service Issues Listening Sesson due Hurricane Irma

 

STB news release:
 

STB RESCHEDULES PUBLIC LISTENING SESSION ON CSXT RAIL SERVICE ISSUES TO OCTOBER 11   ecblank.gifecblank.gifecblank.gif
 

 

The Surface Transportation Board announced today that it has rescheduled its public listening session on CSX Transportation, Inc.’s (CSXT) recent rail service problems for Wednesday, October 11, 2017, at its headquarters in Washington, DC. The listening session will allow the Board to hear from CSXT about its service issues and recovery efforts, as well as hear from rail shippers and other stakeholders affected by service disruptions. Originally scheduled for September 11, 2017, the listening session was postponed by the Board due to Hurricane Irma.

The public listening session will begin at 9:30 a.m. in the Board’s Hearing Room at the agency’s headquarters located at 395 E Street, S.W. The Board has directed CSXT to appear at the listening session, and encourages impacted shippers and other railroads to appear as well. Shippers, railroads, and other stakeholders are requested to file with the Board a notice of intent to participate, identifying the party and the proposed speaker, no later than September 29, 2017. Any person who submitted a notice for the postponed session need not submit a notice for purposes of the rescheduled session, but may amend or withdraw the notice, if necessary.

The Board’s Notice of Public Listening Session in Public Listening Session Regarding CSX Transportation, Inc.’s Rail Service Issues, Docket No. EP 742, and Joint Petition of Foresight Coal Sales, LLC, Sugar Camp Energy, LLC, Williamson Energy, LLC, and Consolidation Coal Company to Address the Adequacy of CSX Transportation’s Coal Transportation Service Originating in the Illinois Basin and Northern Appalachia, Docket No. EP 741, may be viewed and downloaded at www.stb.gov, under "E-LIBRARY / Decisions & Notices / 09 / 20 / 17".

 

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#18 CNJRoss

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Posted 21 September 2017 - 10:11 PM

CSX news release:

CSX Rapidly Restores Service Following Hurricane Irma

 

Performance metrics show improvement as company continues transition to Precision Scheduled Railroading

 

 

JACKSONVILLE, Fla. – September 21, 2017 – CSX (Nasdaq: CSX) rapidly restored service throughout the areas affected by Hurricane Irma and continues to show improvement on key service metrics as the railroad advances its implementation of Precision Scheduled Railroading.

CSX President and Chief Executive Officer E. Hunter Harrison today said, “I’m extraordinarily proud of our team of dedicated railroaders, who worked tirelessly to prepare for and respond to the impacts of Hurricane Irma. Thanks to the dedication of these individuals, CSX was able to quickly and safely restore service to its customers, while continuing to make progress in the transition to our new operating model.”

 

Following Hurricane Irma, which struck Florida on Sunday, Sept. 10, with devastating winds and flooding, CSX re-established rail service in most of the southeast U.S. within hours, into and out of northern Florida within 24 hours, and throughout the vast majority of the state within one week. Restoring service required clearing nearly 8,000 fallen trees from obstructed tracks and deploying hundreds of generators to operate railroad signals and crossings in response to widespread commercial power outages. Prior to the storm, CSX evacuated more than 1,500 rail cars from the State of Florida, and held nearly 200 trains and thousands of cars to avoid damage from the hurricane.

 

Despite the impacts of Irma, key service metrics show that CSX’s operational performance continues to improve. Terminal dwell times have decreased for seven consecutive weeks, while train velocity has steadily increased over the last four weeks, excluding localized hurricane impacts. 

 

“We’re back on our feet and committed to fully implementing our new operating model,” Harrison said. “We remain confident that Precision Scheduled Railroading will provide lasting benefits to our customers, our employees and our shareholders.” 

In addition to restoring rail operations, CSX also has been active in helping communities and individuals recover from the impacts of Hurricane Irma through charitable contributions and in-kind donations to local, state and national relief agencies. Among them, CSX has contributed $100,000 and up to $50,000 in in-kind transportation services to Feeding Florida, to provide food and supplies to residents of the state affected by the recent storm. CSX also has worked with the State of Florida to expedite critical shipments of propane, animal feed and other commodities essential for residents of the peninsula.

 

“CSX is committed to the wellbeing of the communities in which we operate,” said Harrison. “We are honored to partner with Feeding Florida to support Irma relief efforts throughout the state.”

 

 

Cross posted in CSX Monitoring Hurricane Irma



#19 CNJRoss

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Posted 05 October 2017 - 06:52 PM

CSX news release:

 

CSX Service Continues to Strengthen  

 

Positive trends extended as company continues implementing Precision Scheduled Railroading

 

 

JACKSONVILLE, Fla., Oct. 05, 2017 -- CSX (Nasdaq:CSX) today reported another week of improving performance as it adopts the tenets of Precision Scheduled Railroading.

 

CSX President and Chief Executive Officer E. Hunter Harrison said, “CSX’s performance shows improved transit time, train speed, car-handling efficiency and terminal fluidity as we continue implementing the principles of scheduled railroading and the previous transitional issues are resolved.”

 

Highlights of the most-recent company report include:

  • Since mid-July, system-wide train velocity on CSX’s 21,000-mile network has increased by approximately 16 percent, and is now higher than the 2016 full-year average.
  • Transit times for scheduled merchandise trains have returned to a normal range, and are lower than transit levels at the outset of CSX’s Precision Scheduled Railroad implementation in first quarter 2017.
  • Average terminal dwell – the number of hours cars spend in terminals between their origins and destinations – has steadily improved over the last two months and is currently 11.2 hours, declining more than 15% since the summer. Dwell is now lower than 2016 full-year average.
  • CSX’s hump terminals continue to operate fluidly, within planned parameters and with capacity available to handle additional freight requirements.

“We continue to drive forward in our effort to become the best railroad in North America, and the benefits of Precision Scheduled Railroading are becoming more apparent to our customers and our partners every day,” Harrison said.

 



#20 CNJRoss

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Posted 08 October 2017 - 02:29 PM

STB news release 10/5/17:

STB ANNOUNCES SPEAKERS LIST FOR OCTOBER 11 PUBLIC LISTENING SESSION ON CSXT RAIL SERVICE ISSUES

 

 

The Surface Transportation Board today announced the speakers, their affiliations, and their allotted speaking times for the Board’s October 11, 2017 public listening session on CSX Transportation, Inc.’s (CSXT) recent rail service problems in Public listening Session Regarding CSX Transportation, Inc.’s Rail Service Issues, Docket No. EP 742.

Originally scheduled by the Board for September 12, 2017, but postponed due to Hurricane Irma, the listening session will commence at 9:30 a.m. in the Board’s first floor hearing room in the Patriots Plaza I Building, 395 E Street, S.W. in Washington, D.C. (entrance on E Street closest to the intersection of 4th and E Streets, S.W.). The listening session will allow the STB to hear from CSXT about its efforts to implement a new operating plan and to address service problems on its network, as well as to hear from rail shippers and other stakeholders regarding recent CSXT rail service issues they have experienced and to discuss whether additional service recovery efforts may be necessary.

The Board’s decision today in Docket Nos. EP 742 announcing the hearing’s speakers and providing public-attendance instructions (concerning hearing-room access and security screening) may be viewed and downloaded at the STB’s website, www.stb.gov , under “E-LIBRARY / Decisions & Notices / 10/05/2017 ” . A live video broadcast of the hearing will be available via the Board’s website, under “Information Center: / Webcast / Live Video” on the home page.

ATTACHMENT (speakers list)
_____

SCHEDULE OF APPEARANCES
WEDNESDAY, OCTOBER 11, 2017, COMMENCING AT 9:30 A.M.

( Participant / speaker / time allotted in minutes )

Railroad
CSX Transportation, Inc. / to be determined / 15

Shippers

Panel 1
Cargill Inc. / Brad Hildebrand, Vice President / 5
The Chemours Company / Kevin Acker, Strategic Relationship and Category Manager for Rail and F. Eddie Johnston, Federal Government Affairs Manager / 10
Collum’s Lumber Products, LLC / William Scott, Vice President / 5

Cristal / Lisa A. Powers, N.A. Distribution Manager / 5

Dow Chemical Company / Jacqueline Faseler, Global Director Supply Chain Sustainability and Compliance / 5

 

Panel 2

Kellogg Company / Sharron Moss-Higham, Senior Vice President of Operations and Distribution Snacks / 10

Murray Energy Corporation, et al. / Robert Edward Murray, Executive Vice President, Marketing and Sales / 15

Occidental Chemical Corporation / Robin Burns, Vice President—Supply Chain / 5

Packaging Corporation of America / Bruce Ridley, Vice President, EH&S and Operational Services / 5

 

Shipper Representatives

Panel 3

Alliance of Automobile Manufacturers / Jennifer Thomas, Vice President, Federal Government Affairs / 5

American Chemistry Council / Cal Dooley, President and CEO / 5

American Forest & Paper Association / Julie Landry, Director of Government Affairs / 10

Corn Refiners Association / John Bode, President & CEO / 5

The Fertilizer Institute / Justin Louchheim, Director, Government Affairs / 5

 

Panel 4

National Grain and Feed Association / Randall C. Gordon, President/ 15

The National Industrial Transportation League / Mary Pileggi, Chairman, Board of Directors for NITL and Sourcing & Logistics Manager, Fluoroproducts for The Chemours Company / 5

National Milk Producers Federation / Clay Detlefsen / 10

Private Railcar Food and Beverage Association / Barbara A. Cataneo, Secretary of the Board of Directors / 5

Rail Customer Coalition / Herman J. Haksteen, Member through the Private Railcar Food and Beverage Association / 5

 

Labor, Passenger Rail, and Short Lines

Panel 5

American Short Line and Regional Railroad Association / Linda Bauer Darr, President / 5

National Railroad Passenger Corporation (Amtrak) / Scot L. Naparstek, Chief Operating Officer / 5

SMART Transportation Division / John Risch, National Legislative Director / 5

Virginians for High Speed Rail / Danny Plaugher, Executive Director / 5

 

Railroad

CSX Transportation, Inc. / to be determined / 10

--END--

 






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