CSX Reports a Decline in Profit

CSX, a leading rail transportation corporation, reported a rather large drop in their profit in the second quarter. Compared to last year, the drop in profit was approximately 20%.
In the second quarter of 2008, CSX had a profit of $385 million. This year, that number was down to $308 million. The drop per share was 93 cents to 78 cents.
Despite the drop in profit, Michael Ward, the CEO, president and chairman of CSX, sees a light at the end of the tunnel.
Said Ward: “While the economy continues to significantly impact our business, there are some signs that we may be …read more