JACKSONVILLE, Fla. — CSX Corp.’s sustained culture of accountability and continuous improvement has been fundamental to its ability to create significant value over a wide array of economic conditions, including the recent recession, Oscar Munoz, executive vice president and chief financial officer, told participants at the “CFO Rising East: Creating a Sustainable Edge” conference.
CHICAGO — CN expressed disappointment with the decision of the U.S. Court of Appeals for the District of Columbia Circuit in Washington, D.C. denying the company’s request to reverse the Surface Transportation Board’s (STB) order requiring the railroad pay for the majority of the costs associated with two highway grade separation projects. In its Dec. 24, 2008 decision approving CN’s acquisition of the principal portion of the Elgin, Joliet and Eastern Railway Company (EJ&E), the STB ordered CN to pay 67 percent of the cost for a grade separation at Ogden Avenue in Aurora, Ill., and 78.5 percent of a separation at Lincoln Highway in Lynwood,
WASHINGTON – Efforts to encourage increased private sector involvement and investment in intercity passenger rail service is a welcome development, but “private sector involvement is not the silver bullet that ensures success,” Amtrak Vice President for Policy and Development Stephen Gardner said in written testimony submitted to the House Transportation and Infrastructure Subcommittee on Railroads, Pipelines and Hazardous Materials.
JACKSONVILLE, Fla. — CSX Corporation announced the names of the directors to be nominated for election at its 2011 Annual Meeting of Shareholders and said the size of the Board will be increased to 13 members. CSX reported that one current director will not stand for re-election and that two new candidates will be included in the slate.