https://www.trains.com/trn/news-reviews/news-wire/csx-ceo-joe-hinrichs-encourages-railroads-to-work-together-and-set-higher-service-standards/
2 replies (most recent on top)
The STB got it! The congressional subcommittees got it! He-l, even the people that don't even work in the industry got it! The real problem is the shareholders. You have multiple CEO's getting off of the streamlining bandwagon, and going against the shareholders wishes. The few CEO's that are still riding that, are going to ride it to the end. Vena is one of those a55holes. He's going to ride his PSR strategy to the very end, because he believes it's the only way forward. What he doesn't or won't acknowledge is that these railroads were doing great before PSR. Vena really doesn't know what he's doing. I've never seen a business strategy take a once great company and turn into a public embarrassment. That's a very special skill that only Vena could have. Fritz wasn't a good CEO, but the company was posting record profits before PSR and Vena. No one has heard Omaha say anything recently about record profits. The company hasn't had record profits in quite some time now. If the company got rid of Vena and PSR, only then will the UP get back to what it started in 1862. MOVING FREIGHT!
The major shareholders will run him off before he ever gets to make significant positive changes for the employees and customers.