Where is Squires and Wheeler during all this mess? Do they still exist? NS seems like Farrell"s show now and absolutely nobody else's. It's a crying shame what this company has become. I miss David Goode!
5 replies (most recent on top)
Actually its a pretty good trick. Find any company that bases success on the operating margin....squeeze the operating margin money into your pockets and the investors while you temporarily manage to maintain it enoughnto keep it from collapse....then, when it does collapse. Run for the hills with your money to the next company. The investors or executives wont care. They played the game and played it well. You see that big smile on Farrells face in his picture? Thats why hes smiling. The jokes on everone else. A glorified card trick by someone with no more college than a bachelors degree. And the Board is either falling for it... or complacent and equally guilty.
Farrells just skimmin profits while they still exist. No long term business can run the way hes running it. Everybody knows that ship gonna sink. But nobody wants to get wet and swim before it goes under for good. And he walks away counting his money. Thats how Corporate Governance works on the Railroad now. Operating margins are just that. A necessary part of the railroad. When you see that margin drop to 65...60....55.... Guess what...your not doing any better! Not unless the Gross Revenue went up. So your not any more profitable. That just means 10 to 20% more is going into Farrells pockets. And Squires is ignorant enough to fall fornit along with the entire Board of Directors!!! Good Luck Everone! Fools Errands..right to the end.
He’s gotta listen to his new boss Farrell
Unfortunately, it doesn’t seem like CEO David Goode did much to help his home town, but I guess that’s how most CEOs operate. He cancelled Norfolk Southern’s Steam Program and the final overhaul of the 1218. Roanoke is just a former Railroad town. Norfolk & Western was a great railroad.
They're too busy counting their money to be bothered about trivial things like actually trying to make ns a good company. But don't worry because in about 3 years or less we will have a new batch of id–ts trying to figure out how much they can make while screwing us even more.