CSX Rail Boss: Passenger Trains Don't Make Money, I Don't Want High-Speed Rail
One of the nation's highest ranking railroad executives -- whose job it is to study the bottom line -- apparently agrees with Gov. Rick Scott's assessment of high-speed rail's viability once it's up and running.
CSX Corp. Chief Executive Officer Michael Ward told Bloomberg News in New York this morning that CSX cant be part of" President Barack Obamas rail vision because passenger trains dont make money and high-speed trains dont belong on freight tracks.
Said Ward, Im a corporation. I exist to make money, OK? You cant make money hauling passengers, so why would I want to do that? That wouldnt be fair to my shareholders.
By revenue, incidentally, primarily Northeast-based CSX is the third-largest major freight railroad in the U.S.
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