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It’s been almost a year since CSX (NYSE: CSX) CEO and industry legend Hunter Harrison died suddenly. On Wednesday, current CEO Jim Foote presented at the Credit Suisse Industrials conference, and it was a 45-minute chat that seemed more philosophical than operational.
With Harrison viewed as the father of precision railroading (PSR), and CSX now the largest railroad with it in place–and with some other railroads starting to scramble to follow suit–Foote didn’t spend much of his time talking about traditional issues like the company’s financial performance, the pricing market on the rails, projected earnings…none of those things. Instead, it was more like a scorecard of how PSR was impacting customers, because the broad criticism of PSR–often issued without a lot of statistics to back it up–is that it’s just a cost-cutting program that ends up in poor service and unhappy customers.
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