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Article: Railroads Face Unique Challenges, Says GE Rail Services CEO.
- Article from:
- Business Wire
- Article date:
- March 21, 2003
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Business Editors
CHICAGO--(BUSINESS WIRE)--March 21, 2003
Stressed Economy Causes Focus on Cost Containment
"Railroads face unique challenges," says D. Oscar Groomes, the newly appointed CEO of GE Rail Services in Chicago. "They do not operate over a public right of way. Their tracks and freight yards are their own private property, which they must maintain and manage out of their own revenues."
Groomes, 43, acknowledged that railroads have performed better than the airlines since both were deregulated in the late 1970s. "They really are doing an excellent job of containing costs," he said, which is one of the reasons why GE Rail ...