June 28, 2017
Enacting transformational change requires vision, leadership and the efforts of many, sustained over time to deliver a future that is better than the present.
The long term vision, and near-term improvements, that are resulting in positive impacts on key operating measures were recently covered on CNBC’s Mad Money.
Jim Cramer, the host of Mad Money, and seasoned investor has analyzed companies, executives and turnaround efforts for decades, witnessing both successes and failures along the way.
Cramer believes that executives matter and have a pronounced impact on organizations, noting that E. Hunter Harrison is the leader needed to drive transformational change in the rail industry.
Cramer believes that Harrison’s 50+ years as a railroader combined with the principles of precision scheduled railroading are already delivering results and have the potential to reinvent the railroad.
Operational changes during early stages of implementation of precision scheduled railroading are resulting in productivity improvements, including increases in velocity, improvements in on-time originations/arrivals and reductions in dwell time.
Cramer called Harrison the “train whisperer” and went onto say that “he has already done an impressive job” and that he is “onto something.”
Harrisons’ goal is to run a more efficient railroad by running fewer trains more often while improving customer service to deliver a better product for customers and increase CSX’s market share.
Hunter Harrison Speaks at CSX Annual Meeting
When Chief Executive Officer Hunter Harrison attended his first CSX Annual Meeting on June 5 and told shareholders he is more excited about his role with our company than any other in his career, it made an impression.
“I don’t think I’ve ever been as excited about an assignment as I am about this one and the opportunities that lie ahead for us,” Hunter said during his brief remarks, which included an overview of the five guiding values for successfully implementing Precision Scheduled Railroading at CSX:
- Dramatically improving service;
- Controlling costs;
- Optimizing asset utilization;
- Working safely; and
- Focusing on our people and strengthening our professional development.
The 2017 Annual Meeting was held Monday, June 5 in Richmond, Virginia.
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