CSX reviewing 1/3 of its network for possible sale.

[mu26aeh]

Former B&O over Sand Patch has already been ruled out for sale and removed from the list.

[PiperguyUMD]

Then, in closing the barn door after the horse got out, there's this:

http://www.progressiverailroading.com/csx_transportation/news/Report-CSX-to-require-CEOs-to-get-medical-exams--53759?

Did anyone else catch this paragraph!!??

"Harrison had a history of health issues that required the use of an oxygen tank. He died last month of unexpected complications of his illness, which was never publicly disclosed."

edit - Wow I'm out of the loop...

[narrowminded]

Cutting your way to profitability is a losing strategy.

Not if you're one of the very few at the top.  It's disastrous for the operation, the service, whatever their excuse for being was, as well as most of the employees and the communities the business served and the employees lived in.  Basically, everybody.  EXCEPT the very few at the very top of the chain, who don't live in that place anyway, and who walk with MAD money.  Sell the seed corn!  For a very few it's several lifetimes money in their pocket.  To hell with next year, the business, and anything related.  Of course, on the way out, make sure to blame it all on the usual suspects.  It's worked this far.

[Lenny53]

Did anyone else catch this paragraph!!??

"Harrison had a history of health issues that required the use of an oxygen tank. He died last month of unexpected complications of his illness, which was never publicly disclosed."

edit - Wow I'm out of the loop...

Scuttlebutt when he was at CP is that he had heart problems and cancer.

[Philip H]

Not if you're one of the very few at the top.  It's disastrous for the operation, the service, whatever their excuse for being was, as well as most of the employees and the communities the business served and the employees lived in.  Basically, everybody.  EXCEPT the very few at the very top of the chain, who don't live in that place anyway, and who walk with MAD money.  Sell the seed corn!  For a very few it's several lifetimes money in their pocket.  To hell with next year, the business, and anything related.  Of course, on the way out, make sure to blame it all on the usual suspects.  It's worked this far.

Nailed it.  Its what drove a lot of the Class ! consolidation in the 1990's - and the resultant spin offs. Its why so many towns have such a hard time attracting new businesses or industries - because pulling the tracks made short-term profit sense.  and its why so many of us model so much by gone era railroading.

[Point353]

Nailed it.  Its what drove a lot of the Class ! consolidation in the 1990's - and the resultant spin offs. Its why so many towns have such a hard time attracting new businesses or industries - because pulling the tracks made short-term profit sense.  and its why so many of us model so much by gone era railroading.

Could property taxes on right-of-way had a contributing effect?
Does the railroad pay the same tax rate on a line that carries hundreds of cars per day versus one that might see only a few cars per week?

[Philip H]

Could property taxes on right-of-way had a contributing effect?
Does the railroad pay the same tax rate on a line that carries hundreds of cars per day versus one that might see only a few cars per week?

Given that most ROW was a federal land grant I'm not sure how or if they are taxed.

[John]

https://taxfoundation.org/supreme-court-backs-railroad-throws-out-tax-assessment/

[u18b]

The affects me as a rail fan where I live outside Pensacola Fl.

I think one of the lines up for grabs is the old Pensacola and Atlantic sub which runs from Pensacola to chattahoochie.

Which itself is part of the route from New Orleans to Jacksonville.

In this case, there's more than business at stake.  Often time politics too.

In Mississippii, the CSX line messes with the gambling casinos.  They want the line moved north so some of that track land and associated property can be opened up to more casinos. 

Csx is probably ok with that since they've been consolidating and routing more traffic through Birmingham and then Atlanta.

Personally, as a CSX rail fan, I'd hate to see them leave this area.

[C855B]

... Pensacola and Atlantic sub ... Which itself is part of the route from New Orleans to Jacksonville. ... CSX is probably ok with that ...

Damn tootin' they're OK with that - it knocks the wind out of the idea of restoring Amtrak between NOL and JAX. This abandonment (which is what it will be) is obscure enough to not be caught in time by the several communities on the route interested in bringing the train back.

[Blazeman]

Now announcing a $3.5 billion share buy back addition (will amount to $5 billion in all) and a 10% dividend increase (one time?).

[Philip H]

Damn tootin' they're OK with that - it knocks the wind out of the idea of restoring Amtrak between NOL and JAX. This abandonment (which is what it will be) is obscure enough to not be caught in time by the several communities on the route interested in bringing the train back.

Don't be so sure.  The coast folks here in Mississippi are keenly watching CSX like a hawk - and while that segment isn't local to us, they will have spotted it for sure.

[prr7161]

Now announcing a $3.5 billion share buy back addition (will amount to $5 billion in all) and a 10% dividend increase (one time?).

Aaaand here comes the pump and dump, which is all this was ever about.

[Englewood]

Maybe Ferromex will pick up a few lines? I wonder if any of the western Class 1's would be interested.

[Blazeman]

https://www.progressiverailroading.com/csx_transportation/news/CSX-selling-rail-lines-in-Alabama-Georgia--54385?