CSX Fined $298,000

Avro Arrow wrote:Still, what do superbowl tickets and a boar member's pension plan have in common with a fine?

sheer dollar ammounts to put things in perspective

say you make 30 grand and you get a jaywalking ticket for $5

is that going to get your attention? likely not

if that same fine was for 5 grand it would...

that is the difference here.

Dare I say "drop in the bucket"

This is getting kind of ugly, but I'm going to throw my two cents in anyhow.
Pretty sure the fine is not an unexpected expense. Large corporations, especially ones with potential high liability issues, usually set aside funds in their budget to cover lawsuit expenses and fines.

Brad Smith wrote:Large corporations, especially ones with potential high liability issues, usually set aside funds in their budget to cover lawsuit expenses and fines.

yes, you will find it on the balance sheet under liabilities

Avro Arrow, I'm afraid that your "enjoy being wrong" comment sort of went over my head. What was I "wrong about"?

Jay Potter wrote:Avro Arrow, I'm afraid that your "enjoy being wrong" comment sort of went over my head. What was I "wrong about"?

Nothing! You're absolutely "correct."

crazy_nip wrote:

Avro Arrow wrote:Still, what do superbowl tickets and a boar member's pension plan have in common with a fine?

sheer dollar ammounts to put things in perspective

say you make 30 grand and you get a jaywalking ticket for $5

is that going to get your attention? likely not

if that same fine was for 5 grand it would...

that is the difference here.

Dare I say "drop in the bucket"

See, you keep comparing two unrelated numbers with each other. And now, there's a pretty bad example to go along with it.

Seriously, are you all millionaires and $300K is nothing to you? Why do you ignore the ramifications pointed out in Zeke's post? Do you think that an orginzation that cares about $50 per day per car demurrage fees (or whatever it may be at CSX) somehow doesn't care about $300K? Do you think they don't care about a sudden $300,000 loss?

Brad Smith wrote:This is getting kind of ugly, but I'm going to throw my two cents in anyhow.
Pretty sure the fine is not an unexpected expense. Large corporations, especially ones with potential high liability issues, usually set aside funds in their budget to cover lawsuit expenses and fines.

Why do you think that makes a nearly $300K fine "no biggie?"

I guess CSX (et al) have a Magic Money Machine in the CEO's office so that they can just print more money when they need it.

Personally, I only have experience with companies that have to turn a profit. Now I see what my problem is.

I think this thread has pretty much run its course.................