CSX chief: Expanding STB's powers could hurt rail industry

01/21/2010 | Financial Times (tiered subscription model)

Michael Ward, CEO of CSX, has warned that legislation that would strengthen the powers of the Surface Transportation Board would have the effect of kicking the industry while it's down. While CSX has weathered the recession -- posting fourth-quarter earnings improvement -- it and other railways worry that more stringent regulation could hurt the industry's ability to invest in infrastructure and equipment as it emerges from the recession.

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