• Post EHH Changes for CSX

  • Discussion of the operations of CSX Transportation, from 1980 to the present. Official site can be found here: CSXT.COM.
Discussion of the operations of CSX Transportation, from 1980 to the present. Official site can be found here: CSXT.COM.

Moderator: MBTA F40PH-2C 1050

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  by gokeefe
 
Penn Central had a similar habit. Hopefully the same practices at CSX are not taken to similar excesses as they were at PC.

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  by QB 52.32
 
During the very difficult 2Q2020, CSX opened up its operating ratio lead 63.3 vs. 70.7 over NS. Adjusted for pencil sharpness, CSX operating ratio 63.3, 60.7 first 6 months 2020 vs. 66.8 for NS. Though railroading is a long game, clearly CSX has outperformed NS in PSR transitioning and with legitimate concerns of, at the least, what appear to be challenges at NS.
  by gokeefe
 
I'm a little surprised to see a 70.7% operating ratio at NS. That seems high.

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  by mmi16
 
QB 52.32 wrote: Sun Aug 16, 2020 5:59 pm During the very difficult 2Q2020, CSX opened up its operating ratio lead 63.3 vs. 70.7 over NS. Adjusted for pencil sharpness, CSX operating ratio 63.3, 60.7 first 6 months 2020 vs. 66.8 for NS. Though railroading is a long game, clearly CSX has outperformed NS in PSR transitioning and with legitimate concerns of, at the least, what appear to be challenges at NS.
The only numbers CSX ever published that I believed were those that were printed on my paychecks - and only to the extent that the checks didn't bounce - the didn't, unlike those of some Penn Central employees I was acquainted with.
  by gokeefe
 
Wow, I had never heard that PC had gotten to the point there they bounced payroll.

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  by mmi16
 
gokeefe wrote: Mon Aug 17, 2020 4:40 pm Wow, I had never heard that PC had gotten to the point there they bounced payroll.

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They did! PC got someone to put up some money and ultimately make the checks good, however, when they were first presented they did, in fact, bounce.
  by Backshophoss
 
Figure the "Hedge Fund" overseers are pulling more cash out,getting ready to Bail out
  by ExCon90
 
mmi16 wrote: Mon Aug 17, 2020 2:30 pm
The only numbers CSX ever published that I believed were those that were printed on my paychecks - and only to the extent that the checks didn't bounce - the didn't, unlike those of some Penn Central employees I was acquainted with.
[/quote]
(Just spotted this.). Depends on what bounced means. In New York, when PC entered bankruptcy Citibank wouldn't cash PC paychecks but Marine Midland did; it took a couple of pay periods before some banks realized that the sky hadn't fallen and funds actually were available. It was a near thing month after month, however.
  by mmi16
 
ExCon90 wrote: Wed Sep 09, 2020 11:22 pm
mmi16 wrote: Mon Aug 17, 2020 2:30 pm The only numbers CSX ever published that I believed were those that were printed on my paychecks - and only to the extent that the checks didn't bounce - the didn't, unlike those of some Penn Central employees I was acquainted with.
(Just spotted this.). Depends on what bounced means. In New York, when PC entered bankruptcy Citibank wouldn't cash PC paychecks but Marine Midland did; it took a couple of pay periods before some banks realized that the sky hadn't fallen and funds actually were available. It was a near thing month after month, however.
I was working in NE Ohio at the time - and heard from a number of PC employees that upon presentation a number of financial institutions would not CASH their checks. Remember this was a time when the country was a cash economy - about the only credit cards that existed were for gasoline outlets and not many people used them. You go to your local bank branch and don't come home with money was devastating. Eventually the checks were made good, but the damage had already been done.
  by QB 52.32
 
3Q2020 CSX maintained its consequential OR lead over NS, mirroring their year ago historic performance, at 56.9 with NS falling short of meaningfully closing the gap despite some progress, with a 62.5 (adjusted from 66.5) OR. Two keys to EHH's implementation of PSR, organizational culture and "shock and awe" change, for better or worse, are contrasted with NS' own approach up to this point with their new COO, Cindy Sanborn, publicly acknowledging a need for urgency in speeding up PSR implementation with an approach significantly more than tweaking the plan and progress already put into practice.

Noteworthy is CSX's continued commitment to maintaining capital expenditures, the dramatic loss of coal traffic at both CSX and NS, and 7% and 1 % year-over-year intermodal growth at CSX and NS, respectively, during the quarter.
  by QB 52.32
 
4Q20 CSX slightly opened up it's lead over NS with a 57 OR vs. 60 4Q19, and, for full-year 2020 NS slightly closed the OR gap though still 560 BPS above CSX's 58.8 OR. During the wild ride of 2020, full year CSX's traffic revenues were down 11% from 2019, somewhat buoyed by 6% growth in full year intermodal revenue, while NS' were down 13% with losses in all 3 traffic segments of merchandise, intermodal and coal. 2020 was all about PSR productivity and cost control flexibility closing with CSX making a "post-PSR" play for PAR and NS focused upon the struggle to catch up.
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