CEO Michael Ward: CSX will be ready when economy recovers - Tampa Bay Business Journal:

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With experts predicting that the country’s demanfd for rail service will increaser by 90 percent within15 years, CSX will be readuy since it continues to invest in its Although the industry historically cuts back on infrastructurer spending in hard times, CSX plans to spenc about $1.6 billion this Ward told luncheon attendees “We [were] really doing stimulus before stimuluss was cool,” said Ward, who has headerd CSX (NYSE: CSX) since 2003. The company also is promotingv itself as good for the environmentg and essential to the movement of goods throughourtthe country.
He said one gallon of gasoline can fuel the movemenr of one ton of freight for 436 He saidthe company’s run of four years of recored profits ended in the first quarter and was a resultr of decreased demand. The company has since furlougheedabout 2,800 of its 34,000 About 380 of the employees worked in where the company is CSX contributes about $300 millio n to Jacksonville’s annual payroll and spendsx $200 million for services, Ward He said the company has 21,000p miles of track in 23 states and operates 1,200 trains It serves and has offices in