“The Carriers maintain that capital investment and risk are the reasons for their profits, not
any contributions by labor.” This eye-widening statement is a clear statement of the Railroad Carriers’ their belief in Shareholder Primacy doctrine. So, yes, labor does not contribute to profits, profitable companies don’t pay well, and only shareholders and investors matter to the railroads.
Tag: shareholders
What is really behind the Greedy Bastard Railroad CEOs.
Many people blame “greed” as the problem with our railroads. Yes, but it’s not the railroad CEOs and management that are the “greedy bastards.” Behind the face are the shareholders and activist hedge funds. They are the real greedy bastards!
CSX and the Shareholder Pirates.
Hedge fund activists, the shareholder pirates, have their eyes set on attacking our railroads. The attacks that CSX had had to endure included E Hunter Harrison’s experiments with his “precision scheduled railroading” that nearly killed CSX, a railroad with national historical significance. The latest attack was launched in response the “failures ” of Joe Hinricks. CSX and its struggles shareholder pirates from Ancora Holdings. To arms! TO ARMS! We must stand against these pirates!
What do our railroads exist for?
This first article is a primer on shareholder activists and the moral threat they pose to our Railroads, the backbone of our economy. They impose the notions of Milton Friedman and Shareholder Primacy on the target Railroad. The Railroad is forced to put “shareholder owners” first (with PSR), and the other rightful stakeholders, mainly customers and shippers, can just have the middle finger! Railroads are an vital industry and they don’t exist just for shareholders!