by MuddyAxles
from 1999 through 2006 tie replacement fell below that necessary to support 50-70 trains per day and until 2007 rail replacement of any kind was non-existent, except for small sections?
We've been over this many times before and we all know how the dividends, performance bonuses, and stock re-purchases have been funded.
This topic is also why the Children's Investment Fund, one of those nasty "offshore hedge funds", wants to know why the maintenance budget is now climbing during an era of declining traffic, which, under adequate management, would not be the norm.
What they said was: For years you, CSX Management, have told us our (their, CIF's and others') property has been properly maintained by means of sufficient annual investment in plant (tracks, signals, etc.) and equipment. But now, as business declines (as it has for several quarters now) you, CSX Management has found it necessary to increase investment in plant and equipment, even as traffic declines.
Without saying it directly, as though they were attempting to get CSX Management to "come clean" and admit their past errors, they were implying CSX Management had misrepresented the truth about the health of the company...in other words, the stockholders had been lied to for some time.
CIF didn't even address the timing of all this frenzied new maintenance funding (publicly, at least), that resulted suddenly in track maintenance becoming a priority after the several derailments including two with haz-mat and fire & smoke, which got the attention of the public, FRA Administrator (former NYS DOT head), and two fairly vocal and powerful U.S. Senators from New York State.
After winter 2006-7 we have seen ballast, ties, turn-outs, and rail in quantities unseen (on the Lakeshore subdivision, at least) since split-date.
Years of deferred maintenance will take years to recover from.
We've been over this many times before and we all know how the dividends, performance bonuses, and stock re-purchases have been funded.
This topic is also why the Children's Investment Fund, one of those nasty "offshore hedge funds", wants to know why the maintenance budget is now climbing during an era of declining traffic, which, under adequate management, would not be the norm.
What they said was: For years you, CSX Management, have told us our (their, CIF's and others') property has been properly maintained by means of sufficient annual investment in plant (tracks, signals, etc.) and equipment. But now, as business declines (as it has for several quarters now) you, CSX Management has found it necessary to increase investment in plant and equipment, even as traffic declines.
Without saying it directly, as though they were attempting to get CSX Management to "come clean" and admit their past errors, they were implying CSX Management had misrepresented the truth about the health of the company...in other words, the stockholders had been lied to for some time.
CIF didn't even address the timing of all this frenzied new maintenance funding (publicly, at least), that resulted suddenly in track maintenance becoming a priority after the several derailments including two with haz-mat and fire & smoke, which got the attention of the public, FRA Administrator (former NYS DOT head), and two fairly vocal and powerful U.S. Senators from New York State.
After winter 2006-7 we have seen ballast, ties, turn-outs, and rail in quantities unseen (on the Lakeshore subdivision, at least) since split-date.
Years of deferred maintenance will take years to recover from.