(Source: Institutional Investor, April 26, 2016)
NEW YORK — From Montreal to Fort Worth, Texas, railroad executives are keeping their eyes on head count. “Labor is our largest cost,” CSX CFO Frank Lonegro says. “In five to ten years, we’ll move to less labor intensity, from two to one person in a cab, and maybe in my lifetime to zero.” In Australia some trains already run by remote control, he notes.
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