Legendary railroad figure Hunter Harrison passed away after battling an unexplained illness.
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"Much of the heavy lifting has been done"
Yep, 84 million.
Ed
RIP
i dont know if he was legendary.....i suspect his employees had other thoughts...
This must be a surprise and shock to CSX's private shareholders especially after paying him $84 million a few months ago. It would be interesting to know if he was ill and hid his condition from the shareholders / board before he joined CSX.
I would describe Harrison as being controversial rather than legendary. It will be interesting to see what happens to CSX now.
NH Joe
New Haven Joe posted:This must be a surprise and shock to CSX's private shareholders especially after paying him $84 million a few months ago. It would be interesting to know if he was ill and hid his condition from the shareholders / board before he joined CSX.
He would NOT release his medical records nor his health condition to ANYONE.
I would describe Harrison as being controversial rather than legendary. It will be interesting to see what happens to CSX now.
NH Joe
whats gonna happen to CSX
I hope there comes a new merger called Allegheny something 
New Haven Joe posted:This must be a surprise and shock to CSX's private shareholders ...
Selloff of CSX shares Friday on news Harrison was taking unplanned medical leave bears that out.
https://finance.yahoo.com/quote/csx/?p=csx
Sad news whether one is a shareholder or not.
What, me worry?
In spite of fake news and alternative facts, but you can't fool the grim reaper!
This is sad news, no matter what folks opinion of Hunter Harrison was, 73 is really a young age in today’s terms. I am sure railroads are have their own issues, being CEO would be very stressful, even more than we could imagine, but in terms of age, 73 is young. Thanks for the news...
Some will shed a tear.
Others will hire a band.
PRRMike posted:Legendary railroad figure Hunter Harrison passed away after battling an unexplained illness.
Perhaps his death had something to do with his need for the oxygen tubes running to his nose?
Stuart
He got out of a bad situation where derailments are happening frequently.
Andrew
New Haven Joe posted:This must be a surprise and shock to CSX's private shareholders especially after paying him $84 million a few months ago. It would be interesting to know if he was ill and hid his condition from the shareholders / board before he joined CSX.
NH Joe
I do not know if this violates medical laws, but a BOD having a med report of the person they are hiring as head may be a good idea. A heart attack or stroke could happen later, of course. But such a report would highlight the present conditions.
This forum is much more gracious than some of the others I monitor in regard to EHH. This is to your credit.
Originally posted by Alfred E. Neuman:
Selloff of CSX shares Friday on news Harrison was taking unplanned medical leave bears that out.
https://finance.yahoo.com/quote/csx/?p=csx
I will see what happens on Monday and maybe "jump in"
Suicide, really? The guy was on oxygen tanks for crying out loud and anybody that that goes that far in business and does what he does isn’t bothered by questions from the government. I’m sure he has a slew of lawyers at the ready for these things and I wouldn’t be surprised if he was planning on using the CSX legal department.
Rob Leese posted:This forum is much more gracious than some of the others I monitor in regard to EHH. This is to your credit.
Most definitely..Trains magazine comment section
I read the TRAINS comments-wow !! In my 40 years working as a salesman for multiple companies I learned a lot about companies, especially when they were sold. Not pretty. I was always customer and service oriented and fought many a battle for the customer. As for working as a hatchet man for a bunch of investors chasing the all mighty dollar, he gets no respect or sadness at his passing. May his journey be on rough track with lots of red signals and slow orders.
All I can think of is those CSX employees who lost their jobs..
This forum is more gracious.. one of the reasons I like it, and we can thank Rich for that!
Ed
Number 90 posted:Some will shed a tear.
Others will hire a band.
You correct on your summarization, as I know several who have set out a collection can, for the Band...!
Ed Mullan posted:All I can think of is those CSX employees who lost their jobs..
This forum is more gracious.. one of the reasons I like it, and we can thank Rich for that!
Ed
Correct again Ed.....! Rich and Company, don't like Politics or Stupidity on the Forum, and that is a good thing.................!
"Any man's death diminishes me....." - Meditation 17, John Donne
A SAD situation all around: for his family and friends, the current and dismissed CSX employees, the CSX shareholders, the rank and file employees (the REAL railroaders!), and the CSX as a corporation!
There is NO joy in this situation! 
The man sold his soul for outlandish amounts of money. Can't spend it where he's gone to. Think of how many hard working employees lost their jobs so he could make 84 million.
Yes, I agree. A dark holiday for many is his legacy.
Don't get me wrong, I am all for capitalism. But that amount of money, I can understand if a company makes that in a year, but how can one man - ANY man - be worth that much as an employee? After a certain point, those profits should go into infrastructure and employee benefits.
They aren't. It is legal racketeering. Blame the old and new boards.
There is no shortage of blame to go around on this situation.
Montclaire posted:Don't get me wrong, I am all for capitalism. But that amount of money, I can understand if a company makes that in a year, but how can one man - ANY man - be worth that much as an employee? After a certain point, those profits should go into infrastructure and employee benefits.
Sorry not trains related - Roger Goodell just got a $200 million contract for a business that is doing worse than CSX. Some things I just don't understand. Despite the turmoil, I hope the Harrison family finds peace.
Montclaire posted:Don't get me wrong, I am all for capitalism. But that amount of money, I can understand if a company makes that in a year, but how can one man - ANY man - be worth that much as an employee? After a certain point, those profits should go into infrastructure and employee benefits.
Maybe a person like Tesla. One patent could be would be worth that much. But generally, HADES NO!
Remember Oscar? https://en.wikipedia.org/wiki/Oscar_Munoz_(executive)
Why not just reference his actual page as opposed to the search results
I cannot imagine the turmoil at CSX HQ in Jacksonville today. They are going to be in a real mess for a long while.
Any announcement on a funeral or anything ??
Since Harrison and Creel have straighten CN & CP out, Creel is still in Calgary if needed.
It was probably chaotic in Jacksonville and other CSX sites because of the parties going on.
I won't defame the departed Mr. Harrison, my sympathies to his family. Companies recover and move on in a variety of ways in a booming economy.
--------------------
Shares of CSX rebounded to close up 1.25 percent Monday in the wake of CEO Hunter Harrison's death on Saturday.
The executive was renowned in the industry for his ability to save struggling freight railroads, having spent years reforming two of Canada's largest railways.
Despite the sell-off, J.P. Morgan analyst Brian Ossenbeck assured investors that CSX remains an outperforming investment and that CSX executives will carry out Harrison's turnaround plan.
"We believe his legacy will continue at CSX," Ossenbeck wrote.
CSX stock is still way above the year ago price, so hold on if you believe JP Morgan. I'd rather have the millions that EHH stole and give some nice Christmas presents to former CSX employees.
Farmer_Bill posted:CSX stock is still way above the year ago price, so hold on if you believe JP Morgan. I'd rather have the millions that EHH stole and give some nice Christmas presents to former CSX employees.
Hmm...So EHH stole millions? From who? I thought the CSX BOD awarded that to him as part of his compensation. Regardless whether you like it or not that is how corporate America works. The CEO of Yahoo drove that company into the ground and she received tens of millions as a golden parachute. EHH turned around many a railroad, and yes people lost their jobs..happens all the time...in every industry. However, I think when you look at what he did for the industry as a whole...more positive than negative.
Stock price is still trading near a five year high. It's not a buy.
Kent in SD
CSX was having problems before EHH became involved. As pointed out above, when the proverbial "dust settles", they will recover.
A rather serious issue in play now is whether the CSX Board of Directors hid EHH's health condition from the stockholders. An investigation into this has begun. If the investigation reveals that the board withheld information, heads will roll in Jacksonville.
OGR Webmaster posted:A rather serious issue in play now is whether the CSX Board of Directors hid EHH's health condition from the stockholders. An investigation into this has begun. If the investigation reveals that the board withheld information, heads will roll in Jacksonville.
Rich, heads might roll also in that hedge fund group who brought Hunter in.
This whole thing was fishy from the git-go. The stockholders wanted it and they got the whole thing.
CSX is a solid company with good freight car load#’s. If there is some sort of scandal/issue what a great deal for a Warren Buffet or other Capital investment group to buy.
jim pastorius posted:This whole thing was fishy from the git-go. The stockholders wanted it and they got the whole thing.
Boy ain't that the truth, fishy only begins to describe this thing.
I was trying to be polite.
I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
johnf posted:I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
Yes I am!!!
johnf posted:I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
CSX stock jumped because of the "aura" surrounding the hiring of EHH and his track record of improving things at essentially linear railroads. However, his operating style was not well-suited to the spider web network of lines that is today's CSX. Their service has deteriorated badly and they've been called on the carpet for that at the NTSB more than once.
Now that EHH is gone, I would suggest you sell now and take your profit. I see the CSX situation getting a lot worse before it gets better.
Maybe this is the time for CSX to slim down to a core system, and sell off some lines to regionals. Or do a Conrail, and sell off the whole railroad in parts.
OGR Webmaster posted:CSX stock jumped because of the "aura" surrounding the hiring of EHH and his track record of improving things at essentially linear railroads. However, his operating style was not well-suited to the spider web network of lines that is today's CSX. Their service has deteriorated badly and they've been called on the carpet for that at the NTSB more than once.
Rich,
I agree 100% with your comments. My only point is that CSX shareholders probably don't care much about whether they were given all the facts about EHH's health. They were not harmed because the stock is still up significantly even after the news of Harrison's death.
