Since posting part 1, it's time for part 2 because things have turned down big time.
The Railroads are a good gage of the economy. Railroads haul everything. You name it..we haul it and let me tell you, business is way down.
I went to work yesterday Westbound and the closest train ahead of me was 180 miles down the road. Unbelievable for a weekend when freight is at it's heaviest.
The Vice President of Transportation stated a drop of 9% in November with another 7% forecasts for first quarter next year. Retention boards are being done away with effective the 15 TH. Retention Boards were set up so as to keep employees from seeking other work. They paid benefits and $2000 per month.
No more.
VP also stated furloughs will begin system wide so exercise your Seniority. Go where you can hold a job albeit Chicago to Seattle to Los Angles to New Orleans and all points in between. It's going to get ugly for some young employees who will have to pick up stakes or leave there families and work somewhere else.
Tough. Real tough.
So, take 9% and add another 7% and subtract from this figure below. (This assumes all Railroads are down by 16% next year which would be a close figure.) It's a lot of money, jobs and tax revenue lost.
Entire article here: Overview of U.S. Freight Railroads
r8
Freight railroads are critical to the economic well-being and global competitiveness of the United States. They move 42 percent of our nation's freight (measured in ton-miles) - everything from lumber to vegetables, coal to orange juice, grain to automobiles, and chemicals to scrap iron - and connect businesses with each other across the country and with markets overseas. They also contribute billions of dollars each year to the economy through investments, wages, purchases, and taxes.
The Railroads are a good gage of the economy. Railroads haul everything. You name it..we haul it and let me tell you, business is way down.
I went to work yesterday Westbound and the closest train ahead of me was 180 miles down the road. Unbelievable for a weekend when freight is at it's heaviest.
The Vice President of Transportation stated a drop of 9% in November with another 7% forecasts for first quarter next year. Retention boards are being done away with effective the 15 TH. Retention Boards were set up so as to keep employees from seeking other work. They paid benefits and $2000 per month.
No more.
VP also stated furloughs will begin system wide so exercise your Seniority. Go where you can hold a job albeit Chicago to Seattle to Los Angles to New Orleans and all points in between. It's going to get ugly for some young employees who will have to pick up stakes or leave there families and work somewhere else.
Tough. Real tough.
So, take 9% and add another 7% and subtract from this figure below. (This assumes all Railroads are down by 16% next year which would be a close figure.) It's a lot of money, jobs and tax revenue lost.
Entire article here: Overview of U.S. Freight Railroads
r8
Freight railroads are critical to the economic well-being and global competitiveness of the United States. They move 42 percent of our nation's freight (measured in ton-miles) - everything from lumber to vegetables, coal to orange juice, grain to automobiles, and chemicals to scrap iron - and connect businesses with each other across the country and with markets overseas. They also contribute billions of dollars each year to the economy through investments, wages, purchases, and taxes.
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Times are hard everywhere right now.
and one younger employee working.
