It seems like the railroad is a dying industry. If people are suing them, won’t a large verdict put them out of business?
Actually, the commercial railroad industry is not dying and is quite healthy. With the ever rising costs of fuel, many companies have turned to the railroad to transport large amounts of goods, rather than use commercial trucks. For example, CSX Transportation, Inc. submitted fourth earnings of $692 million in January of 2009 and revenue rose 4% to $2.7 billion. Similarly, Norfolk Southern Railway Company, reported fourth-quarter net income of $452 million in January of 2009, with quarterly revenue up 2% to $2.5 billion.
Actually, the commercial freight railroad industry is not dying and is quite healthy. With the ever rising costs of fuel, many companies have turned to the railroad to transport large amounts of goods, rather than use commercial trucks. For example, CSX Transportation, Inc. submitted fourth quarter earnings of $692 million in January of 2009 and revenue rose 4 percent to $2.7 billion. Similarly, Norfolk Southern Railway Company reported fourth-quarter net income of $452 million in January of 2009, with quarterly revenue up 2 percent to $2.5 billion.
