CSX Creates Clean Diesel Engine Train

" Trained to think of a smoke belching heavy polluting -- that they used to be. Not anymore Fox Business has had an exclusive look all along today. At CSX's gen set train this is a high efficiency low emission locomotive. That has not one. Not two but three clean diesel engines to the snapper Fox Business experts as Michael Ward chairman and CEO. Of CSX. And it's been great all day long to see that locomotive behind you and the fact that you guys are rolling something out. It's actually during a very tough time for the economy but tell what's behind the thinking. According this sport at a time when when frankly diesel has come down in price and we are worried that much about."

" Fuel prices right now. We're live work aren't afraid of four times more fuel efficient than trucks and we want to take it to the next level. And really put a -- product out there this -- marvel produced without visions of articulate. And I knocked by 80%. In the emissions of CO2 by 50%. We think is the way to go to be green and clean and very fuel efficiency while we need to make investments."

" Yeah I'm all for I think it's terrific let's get to the business here how was business are. We know that companies are slowing down there people are not buying as many of their product so there's less shipping to be had. How are you feeling -- what have you seen as far as falling in volume."

" For your company. We'll live right after Thanksgiving -- volumes fell to about 20% down on a year over year basis. And stayed that way for about three months we've seen some modest signs. Modestly encouraging sides here over the last. Several weeks worth of data at 16% so still down but less so than the three months before that. Do you have to warm for you're you're next earnings report are we worried about that. Are now we we think we're going to continue is still have a decent earnings continuing to have best for the future we're investing. One point six billion dollars this year because we think. Long term or more and more people -- it turned today -- virtually highway congestion and because of our small -- I don't put that. So we're making investors for the future even in this type of time I thought."

" Was very interesting back in January mr. ward when you said that you would rather lose some customers have been lower your prices you're very serious about retaining. The pricing power do you still feel that way as times get tougher."

" Absolutely there's I think that the value were delivered for our customers is superior."

" All were providing better service were very clean and we pick up prices are -- don't think we need to reduce that the benefits of."

" Well you know the government regulation is possibly coming your way they want to stem price increases you are. You know probably building in price for increases I believe what about 6%. My guess would -- between 56% this year and and what do you think about that led government gets involved in that regard."

" I we will I think that the government's going to come up with balance regulations for our industry. Because they've realized that -- truck that's going to grow 90% over the next fifteen years and they need reverence to help and we have to be able to make investments. There was a recent study to show we are not using -- monopoly power world market power cut by the Surface Transportation Board so we think our prices are fair."

" You're seeing any migration perhaps from the air cargo because air cargo so expensive or perhaps the truckload carriers I don't know I would've thought they'd be a beneficiary because they might be cheaper what are you seeing."

" were not -- seeing much in the air side airfreight side but on the truck inside we're seeing customers like JB hunt. Neither adjusted their product electric -- to the long haul and they do this -- local delivery. And they think the bar and in an introvert -- is the way to go so we think -- partner with the truckers ever tried to take. -- highway congestion."

" We'll see -- Michael once again thank you very much for spending pretty much the whole day letting Fox Business really look at your brand new -- and and we do appreciate that thank you. This thank you for the opportunity tell our story Michael Ward CSX chairman and CEO he's like Hank Riordan. From atlas shrugged Reardon metal. In the --"