I can’t think of a better explanation than that they are just doing this to fill their pockets and walk out, leaving the company in ruins. On the other hand, I’m shocked that the shareholders couldn’t see through the story that the c-suits served them and that there is absolutely no corporate responsibility at such a big company. Anybody who took a basic business course could figure out that this kind of thinning of the worker headcount is dangerous and that it, while it may provide short term boost in numbers due to cost cuts, means only trimming the companies valuable resources.
5 replies (most recent on top)
It's very true that it's not as regulated as it once was. The STB is not interested in serving the American people. Write to them. Tell them how PSR is ruining one of the finest railroads in the country and hurting hard-working people. They need to hear it from you, not from Lance. Write your congressman and senators, too.
Obviously it’s not as regulated as it once was.
The board of directors needs protection from activist investors. They had been doing everything right, thinking very long-term, had a very respectable OR, and were making plenty of money. But none of that was good enough for Blackrock. Railroads remain a regulated industry, in spite of the Staggers Act. They are subject to the STB. If you don't like what's happening, then write or email the STB, your congressman, senators, and state representatives.
They are going to run the company into the ground until the service declines to a point that the government reverses some of the deregulation of the 80’s. Deregulation is good but not when a company’s leadership doesn’t care about the long term viability of their own company. Right now the Fox guarding the hen house.
This is not a long term growth plan. It’s to make the railroad a smaller more efficient company