Canadian National
Canadian National’s CEO J.J. Ruest is expected to speak at the Citi 2020 Global Industrials Conference in Miami on Feb. 20. While CN’s Ghislain Houle, executive vice president and Keith Reardon, senior vice president are expected to speak at the 2020 Barclays Industrial Select Conference, also in Miami, on Feb. 19.
Kansas City Southern
Kansas City Southern CEO Patrick J. Ottensmeyer is expected to address the Citi 2020 conference on Feb. 19 and the Barclays conference on Feb. 20.
Union Pacific
Union Pacific’s Chief Financial Officer Jennifer Hamann is expected to speak before attendees at the Stifel 2020 Transportation & Logistics Conference in Miami. UP CEO Lance Fritz is expected to speak at the Barclays conference in Miami on Feb. 19.
Conference details:
Stifel 2020 Transportation & Logistics Conference
Yes, other than the Canadian railroads they can all talk about losing the business.
PAUL – I see your point but I see it a bit differently. Capitalizing routine maintenance (track resurfacing, bridge repair, scheduled replacement of aged rolling stock) is accepted under accounting principles and we can’t dispute that. However these expenses should be met out of current income. One shouldn’t have to go to outside investors to raise these funds.
When a railroad needs to retire locomotives and replace them on a scheduled basis, that’s no reason to sell more stock or bonds.
@Charles Landey When you look at Class 1 capital spending programs the single biggest line item is maintaining the tracks in a state of good repair (rail, ties, ballast). Also includes bridge replacement programs, and whatever “PSR compliant” siding and yard lead extensions are actually happening (probably insufficient but not zero spend). Would include new locomotive and rolling stock replacements (pretty low these days apart from plastic pellet covered hoppers and to a lesser extent tank cars). Locomotive rebuilds are also a thing, since those are exempt from Tier IV regs which produce a costlier to operate locomotive.
With all of the workforce they threw out on the streets and the families they have affected I’m surprised nobody has flipped out on these heartless jerks.
PSR
Why do these railroads need investors? Not like they need to raise money for capital projects as there are none.
Mike Price, Wall Street is already starting to look for the exits. Several analysts now list the PSR railroads as “Strong Sell”. Volumes continue to fall and even an idiot can see that you cannot continue to raise rates forever to prop up the bottom line. They have made their killing and will soon be moving on to the next industry they can destroy for short term, personal gain. Management will collect their fat stock options and severance payouts and will bail out, leaving the mess for someone else to clean up.
Look at the smiling CEO… they are all stuffing their pockets with stock options. They’ll talk up a good game about their PSR Kool-Aid.
Meanwhile the workers, shippers and public suffer a shrinking network and higher prices for worse service.
Re-regulation now. Maybe with Bernie, we’ll see it.
Putting on a good face about “growth” when business is lagging and customers are ticked. Should be a good dance on the stage, especially when the hard questions start to come through.
Mike Price, you nailed it. Corporate Raiders. Strip the companies assets and run
Guys dont worry as soon as the investors suck all the money and life out of the class ones doing PSR AKA PONZY SCHEME RAILROADING they will move on to ruin another industry and the railroads will get back to taking care of customers and keeping employees that have dedicated their lives to the railroad. But until then we will be watching to see how far they are willing to take those mighty railroads into the ditch!!!!??????????????
and they will lie about how good psr is, just ask the customers.
When you are the only industry not experiencing growth in a thriving economy…..Well, this will be interesting to watch!