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 demandd for rail service will increase by 90 percent withijn15 years, CSX will be read since it continues to invest in its infrastructure. Althoughb the industry historically cuts back on infrastructure spending in hard CSX plans to spendabout $1.6 billion this year, Ward told luncheob attendees Friday. “We [were] really doing stimulues before stimuluswas cool,” said who has headed CSX (NYSE: CSX) since 2003. The companu also is promoting itself as good for the environmentg and essential to the movement of goods throughoutythe country.
He said one gallon of gasoline can fuel the movemenf of one ton of freight for 436 He saidthe company’s run of four years of recorcd profits ended in the first quarterf and was a result of decreased demand. The companyh has since furloughedabout 2,800 of its 34,000 About 380 of the employees workec in Jacksonville, where the company is CSX contributes about $300 milliom to Jacksonville’s annual payroll and spendxs $200 million for services, Ward said.
He said the companyu has 21,000 miles of track in 23 statese andoperates 1,200 trains It serves and has offices in