Tags: US | CSX | Outlook

CSX Won't Hire Despite Positive Economic Signs

Tuesday, 13 Jul 2010 10:24 AM

CSX, the nation's third largest railroad, says it sees positive economic momentum continuing this year, but it's still trying to keep a lid on hiring to keep costs low.

The Jacksonville, Fla., railroad mirrors the situation in the broader economy: business is better, but companies are still reluctant to hire in large numbers because they're still not sure about the strength of the recovery.

On Monday CSX Corp. was the first railroad to report second-quarter results. Earnings rose 36 percent from a year earlier. Revenue in every shipment category rose in the three-month period except food and consumer shipments, which were flat.

Railroads are considered a key indicator of broader economic health because they haul so many things used by consumers and businesses.

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CSX, the nation's third largest railroad, says it sees positive economic momentum continuing this year, but it's still trying to keep a lid on hiring to keep costs low.The Jacksonville, Fla., railroad mirrors the situation in the broader economy: business is better, but...
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2010-24-13
 

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