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Rail CEO Rethinks Labor Deal Approach


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Title of article in WSJ, Dec 31st.  Covers CSX CEO Joe Hinrichs approach to negotiating new labor contracts with the various rail unions.  In the past, the major freight railroad contracts were done by a collective that spoke on behalf of the 12 major unions that cover the industry employees.  Hinrichs has broken with that collective and is negotiating directly with the unions.  Union Pacific has also broken with the national effort.

 

Seems to me this is a good move on his part as he will be free to pursue settlements without being hamstrung by settlements that might be acceptable to his competitors but not favorable to CSX interests.

 

I always had the impression he was a solid guy but that he took the heat for the Explorer fiasco when it went to the new platform.

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5 hours ago, Bob Rosadini said:

I always had the impression he was a solid guy but that he took the heat for the Explorer fiasco when it went to the new platform.


From what I remember he trusted his subordinates who either lied to him or took too many risks on the cutover timeline.

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16 hours ago, akirby said:


From what I remember he trusted his subordinates who either lied to him or took too many risks on the cutover timeline.

Was that during Farley's tenure?  In any case that would be a rare instance in the corporate world when a guy at that high level takes the hit vs that high level guy taking it out on his subordinates. If anything in my mind speaks well of Hinrichs.

I'm a CSX stockholder too- hope he succeeds🤔

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32 minutes ago, Bob Rosadini said:

Was that during Farley's tenure?  In any case that would be a rare instance in the corporate world when a guy at that high level takes the hit vs that high level guy taking it out on his subordinates. If anything in my mind speaks well of Hinrichs.

I'm a CSX stockholder too- hope he succeeds🤔

IIRC, Jim Hackett was still in charge and both Farley and Hinrichs were in the running for next CEO

Edited by jpd80
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On 1/3/2025 at 2:01 PM, jpd80 said:

 

IIRC, Jim Hackett was still in charge and both Farley and Hinrichs were in the running for next CEO

Hmnn..given Hackett's background, IMO I can understand why a marketer would win out over a guy who  understood the complexity of the manufacturing world.  And as for the Explorer launch fiasco, perhaps Hinrichs took the rap as the deck was stacked  against him as opposed to a Toyota hire who was going to fix everything.?

Wonder if the quality issues would have continued to build if Hinrichs had won the battle???  Last 5 yrs my CSX is up 30%, my Ford went up 7.2%

Yes I know, apples and oranges.

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