CSX Transportation

> *"How tomorrow moves."*
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> *-CSX's motto*
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**Chessie Seaboard Merger**, reporting mark **CSXT**, or commonly named **CSX**, is one of the 9 Class 1 railroads that operates in eastern USA. The company is the leading subsidiary of CSX corporation, which is a Fortune 500 company.

## Bio

This railroad was formed in 1980 when the Seaboard System evolved into it.

CSX Corporation was formed on November 1, 1980, by combining the railroads of the former Chessie System with Seaboard Coast Line Industries.

The name came about during merger talks between Chessie System and SCL, commonly called "Chessie" and "Seaboard". The company chairmen said it was important for the new name to include neither of those names because it was a partnership. Employees were asked for suggestions, most of which consisted of combinations of the initials. At the same time, a temporary shorthand name was needed for discussions with the Interstate Commerce Commission. "CSC" was chosen but belonged to a trucking company in Virginia. "CSM" (for "Chessie-Seaboard Merger") was also taken. The lawyers decided to use "CSX", and the name stuck. In the public announcement, it was said that "CSX is singularly appropriate. C can stand for Chessie, S for Seaboard, and X, which actually has no meaning." However, an August 9, 2016, article on the *Railway Age* website stated that " ... the 'X' was for 'Consolidated' ". The T had to be added to CSX when used as a reporting mark because reporting marks that end in X means that the car is owned by a leasing company or private car owner. The company introduced its current slogan, "How Tomorrow Moves", in 2008.

The founding chairman of CSX Corporation was Prime F. Osborn III of Seaboard, for whom Jacksonville's Prime F. Osborn III Convention Center is named. The first CEO and second chairman was Hays T. Watkins Jr. of Chessie. Watkins was succeeded by John W. Snow as CEO in 1989 and as chairman in 1991. When Snow left the company in 2003 to become United States Secretary of the Treasury, Michael J. Ward, who then headed CSX Transportation, was promoted to succeed him. Overall in 2003, Ward took on the positions of chairman, president, and CEO. When president Oscar Munoz left CSX in September 2015 after obtaining the role earlier that year from Ward, the company underwent several management changes, with Clarence Gooden appointed president.

The company went through major leadership changes in 2017 when activist investor Mantle Ridge, a hedge fund that held 4.9% of CSX's stock, demanded a change in the board, that Michael Ward step down as CEO, that the company cut middle management, and that the company hire Hunter Harrison, known for leading the turnaround three other railroads, as CEO. Within months of Harrison's hiring in spring 2017, several members of CSX's executive management team stepped down. Harrison died on December 16, 2017 and shortly thereafter Chief Operating Officer James M. Foote was named president and chief executive officer.

In March 2018, Foote, said CSX would follow-through on Harrison's plans to transform the company and move it from a traditional railroad model to a scheduled railroad model in order to reduce costs and improve the quality of service. Part of this effort includes reducing the number of locomotives in service from 3,000 in late 2017 to between 2,370 and 2,420 in 2020. The company also plans to reduce the number of rail cars it owns from 136,000 in late 2017 to between 104,000 and 109,000 in 2020. In 2017, CSX cut its workforce by 3,300 employees. In 2018, roughly 2,200 jobs were cut. A further reduction of 4,000 positions is planned by 2020. CSX estimates that after these cuts it will have a workforce of about 21,000 people.

CSX is also trying to increase profits by monetizing some of its real estate. As of early 2018, the company planned to generate $800 million by 2020 by selling off some railroad lines and other real estate. As of the same date, CSX held real estate in 23 states, the District of Columbia, and two Canadian provinces.

## Members

* Ash
* Brock
* David
* Eddie
* Justin
* Misty

## Trivia

* It's the creators favorite eastern Class 1 Railroad