New CEO Hunter Harrison Putting Plans in Action at CSX; Solid Pricing Power Never Hurts
CSX reported solid second-quarter results, giving investors a look into the first full quarter that Hunter Harrison has led CSX. No surprise he's making plenty of changes. Already we see employee count down 2,300 from the year-ago period (1,000 due to prior management efforts), and Harrison has removed hump operations from several of the 12 yards where CSX was sorting cars--he believes CSX can reduce to four or fewer humps by the end of the year. He eliminated such yards during his tenure at Can...CSX provides rail-based freight transportation services. The company's principal operating subsidiary, CSX Transportation, Inc., provides a link to the transportation supply chain through its rail network, which serves centers in states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. The company's CSX Intermodal Terminals, Inc. subsidiary owns and operates a system of intermodal terminals, primarily in the eastern United States and also performs drayage services (the pickup and delivery of intermodal shipments). The company's Total Distribution Services, Inc. subsidiary serves the automotive industry with distribution centers and storage locations.
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