Hunter Harrison at CSX

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Re: Hunter Harrison at CSX

Postby Wayside » Mon Sep 11, 2017 9:43 am

Gilbert B Norman wrote:Ahh, good to learn that the dispatch center is located away from the Jacksonville HQ building on so aptly named - Water Street.


"Purple Palace"
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Re: Hunter Harrison at CSX

Postby Wayside » Mon Sep 11, 2017 9:53 am

My experience with UP's Harriman Dispatch Center during a recent summer when the Muddy Missouri was escaping her banks and threatening the "bunker" (giant sand bags surrounded the building) was that a switch could be made to the alternate W. Omaha site in a matter of minutes, but shifting back to the HDC would take a week to ten days minimum. A lot of folks were on edge that summer.

UP has (had?) smaller remote offices in Spring, TX, San Bernardino, Kansas City, Ft. Worth (@BNSF), and Chicago suburban. The first four are STB mandated to coordinate with BNSF on joint trackage. The latter is for commuter ops.
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Re: Hunter Harrison at CSX

Postby Gilbert B Norman » Mon Sep 11, 2017 1:00 pm

Hard to believe, Mr. Wayside, that Uncle Pete advertises the facility's location
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Re: Hunter Harrison at CSX

Postby mmi16 » Mon Sep 11, 2017 9:42 pm

Wayside wrote:
Gilbert B Norman wrote:Ahh, good to learn that the dispatch center is located away from the Jacksonville HQ building on so aptly named - Water Street.


"Purple Palace"

Don't know anything about it be referred to as the Purple Palace.

Building was built by the ACL in about 1960 when they moved their headquarters from Wilmington, NC - a Hurricane magnet location.
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Re: Hunter Harrison at CSX

Postby Wayside » Tue Sep 12, 2017 9:36 am

Old timers called it Purple Palace, in honor of the train livery, which was probably designed by EMD:

http://www.american-rails.com/images/WColumbiaYd535.jpg
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Re: Hunter Harrison at CSX

Postby Wayside » Tue Sep 12, 2017 9:50 am

Gilbert B Norman wrote:Hard to believe, Mr. Wayside, that Uncle Pete advertises the facility's location


Indeed. It was originally the freight house for Omaha, site of the record-breaking auction/sale of the bankrupt railroad to E H Harriman and friends as shown in the photo on the other end of the link:

https://i.pinimg.com/600x315/6a/b1/9c/6ab19c6f4636f03d971800cebbbe8973.jpg

Coincidental: E H Harrison and E H Harriman.
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Re: Hunter Harrison at CSX

Postby Zeke » Mon Sep 18, 2017 2:33 am

Loaded up on CSX stock on Sept.6,2016 at 27.85 a share, mid July 2017 it floated up to 55 a share and Sept. 16 it closed at 52.18 although the price/earnings ratio is a bit troubling. Putting personalities aside EHH is working his magic on the hide bound CSX. The reason he cut the place off at the legs is, he knows as do more astute CEO's, the lower echelon is lying its ass off about what is really going on down at track side. Once the railroad becomes dysfunctional the CEO and his inner circle can get a handle on the place as to what works, what doesn't and then the fine tuning starts. In the interim period we are now experiencing, management heads of course roll, customers blow a gasket, employees have seizures, train buffs go haywire and the outsiders think EHH's oxygen bottle is running on empty. I give the man credit for fulfilling his fiduciary responsibilities to the share holder. The bottom line is........the bottom line !
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Re: Hunter Harrison at CSX

Postby ccutler » Mon Sep 18, 2017 3:51 am

I hope you are right Zeke, and congratulations on the profit! I would also point out that you've held your stock for more than a year, offering you the lower long-term capital gains tax. After basically doubling your money in a year, I would offer to you that you've fully captured the benefits of new management, and the future risk is that those benefits aren't fully realized. I'd sell it now and buy other rail lines. If EHH succeeds they'll emulate his success in part; if he fails at least NS will gain market share.

Just my two cents. CSX over 50 is my favorite short.
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Re: Hunter Harrison at CSX

Postby Matt Langworthy » Mon Sep 18, 2017 11:25 am

I think you are giving EHH too much credit. I researched CSX's stock history on https://finance.yahoo.com/quote/CSX/history and here is what I found:

9/19/2016- $29.46 per share
1/19/2017- $43.23 per share
Today's average so far- $52.44 per share

Notice that over half of the price increase occurred before EHH was hired! He piggybacked on Michael Ward's trend of fewer and longer trains. It was documented in an issue of Trains last year- drag freights are making a return across North America. I also noticed this trend myself just by listening to CSX's dispatch in the spring of last year- 10,000 to 13,000' long trains were became commonplace. EHH's supporters amongst the shareholders are falling victim to his self-promotion hype. In fairness, I will say that the rest of EHH's policies are indeed his idea. They're just not very good for the employees, customers or even some shareholders...

As a shareholder who holds stock for a long time, I have concerns over EHH's management style. It will benefit shareholders only in the short term. I'm not into day trading. CP and CN are still recovering from his tenure, and I fear what will happen when EHH's tenure at CSX ends and his successor must pick up the pieces.
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Re: Hunter Harrison at CSX

Postby Gilbert B Norman » Mon Sep 18, 2017 6:56 pm

The airplanes have done better for me than I did on my CSX position.

My LMT is up 22.2% YTD AUG 31, and my BA 53.9%.

By contrast, my UNP is up 1.6%; S&P 10.4%
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Re: Hunter Harrison at CSX

Postby DogBert » Thu Sep 21, 2017 3:23 pm

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Re: Hunter Harrison at CSX

Postby spatcher » Thu Sep 21, 2017 4:28 pm

Matt Langworthy wrote:I think you are giving EHH too much credit. I researched CSX's stock history on https://finance.yahoo.com/quote/CSX/history and here is what I found:

9/19/2016- $29.46 per share
1/19/2017- $43.23 per share
Today's average so far- $52.44 per share

Notice that over half of the price increase occurred before EHH was hired!


The major bump in price from 1/18 to 1/19 was a result of EHH coming to CSX rumors. Just the idea of him running CSX raised the stock price of $9.00s a share.
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Re: Hunter Harrison at CSX

Postby KevinD » Thu Sep 21, 2017 8:02 pm

Zeke wrote:I give the man credit for fulfilling his fiduciary responsibilities to the share holder.



That's just a fancy way of saying it's okay to act like cannibals and cut off people's livelihoods in order to fund a welfare system for the non-indigent people among us. I do admit, "fiduciary responsibilities to the share holder" does sound nicer. It civilizes a barbaric act.

By the way, guys, does this look like a normal occurring event to you? Or is it strictly a man-made bubble caused by 40 years of running Greenspan's money printing machine that ultimately will blow up someday? Hunter is just partying while the bubble is still inflated. And his invited guests can vouch for his exquisite tastes.

What Zeke doesn't realize is the slot machine he has been using has been rigged to pay off handsomely for one generation only.
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Re: Hunter Harrison at CSX

Postby ccutler » Thu Sep 21, 2017 9:41 pm

So its clear from the Reuters article that CSX management is lying about their 'progress' improving operations.
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Re: Hunter Harrison at CSX

Postby mmi16 » Thu Sep 21, 2017 9:51 pm

ccutler wrote:So its clear from the Reuters article that CSX management is lying about their 'progress' improving operations.


Didn't Hunter just 'redesign' the numbers he is publishing - so that they have no validity against historical numbers?
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