Executive Briefings

CSX, UP Execs Join Chorus of Railroad Chiefs Who Are Pessimistic About Holiday Shipments

Executives of some top U.S. railroads provided a dim outlook for peak autumn shipping season - the time when retailers traditionally stock up in advance of the holidays - saying that the economy clearly has slowed.

"We're expecting somewhat of a peak, but it's not going to be very significant," CSX Corp. chief financial officer Fredrik Eliasson said during a recent Dahlman Rose & Co. conference in New York.

His comments echoed those of Rob Knight, his counterpart at Union Pacific Corp., who spoke earlier at the same event, saying his forecast for peak season has become more "muted" than an already-subdued outlook for the important period just a few months ago.

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"We're expecting somewhat of a peak, but it's not going to be very significant," CSX Corp. chief financial officer Fredrik Eliasson said during a recent Dahlman Rose & Co. conference in New York.

His comments echoed those of Rob Knight, his counterpart at Union Pacific Corp., who spoke earlier at the same event, saying his forecast for peak season has become more "muted" than an already-subdued outlook for the important period just a few months ago.

Read Full Article