KATRINA UPDATE: Railroads still recovering

The major railroads serving the Gulf Coast states continue to repair the damage caused by Hurricane Katrina and restore service to the region. Jacksonville, FL-based CSX Corp. said it’s continuing to re-route traffic around storm-affected areas and expects repair estimates to top $250 million, including the capital costs of rebuilding the rail infrastructure, losses from business interruption, and other costs associated with the storm damage. CSX said it currently estimates third-quarter losses associated with business interruption and other costs would negatively impact operating income by around $25 million. Yet Tony Ingram, CSX’s executive vp & COO, remains upbeat ...

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November 2009

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