(Reuters circulated the following on July 16.)
CHICAGO — U.S. railroad CSX Corp. should see price increases in 2009 above the rate of inflation, the company’s top executive said on Wednesday.
In a conference call with analysts, Chief Executive Michael Ward said it was too early to give a precise forecast for pricing 2009, but reiterated the railroad’s expectation that it would raise its prices in 2008 by an average of over 6 percent.
Ward said the company expects a preliminary result either Wednesday or Thursday from a contested shareholder vote held last month on a dissident slate of five board members proposed by hedge funds The Children’s Investment Fund and 3G Capital Partners.