CSX, the nation's third-largest railroad, is prepared to bring back furloughed employees and restart idled rail cars when the economy begins to pick up, but it is still not sure when that will happen, the Louisville, Ky., Courier Journal reports.
The company didn't offer an earnings outlook, but said it now expects to get more money from raising prices this year among its existing customers about 75 percent of its annual business.
CSX predicts it will now be able to increase prices by 6.6 percent this year, compared with a previous estimate of 5 percent to 6 percent.
The company expects cost cuts should continue to buoy sinking demand this quarter. In the second quarter, the company slashed expenses by 27 percent from a year earlier mostly through labor reductions.
(This item appeared in the Courier Journal Aug. 3, 2009.)
