Tom Murray

CSX was the underperformer of the four major U.S. Class One railroads for many years. About a year ago, the company’s weak performance started to attract attention from activist investors who felt that the company had the potential for significant improvement in its operating performance and financial...

London-based hedge fund TCI, which owns roughly 4% of CSX Corporation’s common stock, has been sparring with the company’s management for the past year. TCI has said that CSX executives have been ineffective in fixing the railroad’s longstanding operating problems, and have questioned the company’s...

Kansas City Southern is the smallest of the “big seven” North American railroads, but it has by far the largest stake in U.S.-Mexico trade thanks to its ownership of the former TFM rail line, now known as Kansas City Southern de México. Over the past decade, KCS has made progress in integrating its...

As railroads have seen their traffic volumes surge over the past several years, they have found that their networks, most of which were originally laid out in the 19th century, aren't well suited to 21st century traffic patterns. As a result, all of the major North American railroads are investing heavily...