Daily Record Financial News &
Monday, April 23, 2018
Vol. 105, No. 111 • One Section
35¢ www.jaxdailyrecord.com
CSX looks on track with strong earnings Analysts praise company’s increase in efficiency; stock price surges.
After a year of big job cuts and service disruptions on the railroad as new management implemented its operating plan, CSX Corp. regained the confidence of Wall Street with strong first-quarter earnings. The Jacksonville-based company’s stock jumped as much as $4.60 to a record high $61.01 Wednesday after it reported earnings of 78 cents a share, 12 cents higher than the average analysts’ forecast,
according to Yahoo Finance. The s to c k reached $61.42 on Thursday. Analysts were particularly Foote impressed with the improvement in CSX’s operating ratio (operating expenses divided by revenue) from 64.8 percent in the fourth quarter to 63.7 percent in
this year’s first quarter. “After a challenging experience during 2017’s rapid implementation of the Precision Scheduled Railroading plan, first quarter’s beat reflects CSX’s strong execution and meaningful progress toward its 2020 OR target of 60 percent,” Robert W. Baird analyst Benjamin Hartford said in a research note. This was the first full quarter as CEO for James Foote, who took
over when Hunter Harrison died in December after just nine months on the job. Foote is continuing the operation plan developed by Harrison called Precision Scheduled Railroading. “Early on in the new CEO’s tenure, the company is showing the ability to operate efficiently as a smaller railroad with fewer employees and assets. Investors Basch
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WELCOME TO THE FLORIDA BAR
Photo by Max Marbut
The eight attorneys sworn in to The Florida Bar on Thursday are graduates of Florida Coastal School of Law. From left, Florida Coastal President Dennis Stone, Edmund Starnes, Stephanie Lisiecki, Kevin Forte, Victoria Rosati, Jason Wilkison, Lanze Francis, Florida Coastal Dean of Academics Jennifer Reiber, John Holzbaur and Jacklyn Bennett.
New attorneys take oath in U.S. District Court — and receive advice and offers of mentorship. by Max Marbut Associate Editor Eight men and women who passed The Florida Bar examination in February walked into the Bryan Simpson U.S. Courthouse about 3:30 p.m. Thursday. When they walked out of the build-
ing an hour and a half later, they were the newest members of The Florida Bar. The ceremony was not only procedural but also advisory with personal experience shared by attorneys who serve on the bench, the Bar and the classroom. “You have accomplished a tremendous goal. The legal profession is truly
a profession of great honor,” said U.S. District Judge Marcia Morales Howard, who presided over the ceremony and administerd the Oath of Attorney. “Lawyers are society’s professional problem solvers,” she added. Jacksonville Bar Association President Tad Delegal welcomed the new
attorneys to the profession, but cautioned that graduating from law school represents only a preview of the career. “It’s like you’ve won first place in a pie-eating contest and the prize is more pie,” he said. Attorneys
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Eight proposed changes to state constitution placed on ballot Florida Constitution Revision Commission adjourns after considering hundreds of changes.
By Max Marbut Associate Editor The Florida Constitution Revision Commission adjourned after more than a year of administrative and public hearings and deliberation on more 792 changes to the
state constitution proposed by the public and 123 submitted by commission members. Eight proposed revisions will be submitted by May 10 to the secretary of state for inclusion on the Nov. 6 general election ballot. In order to become law, a provision
must be approved by at least 60 percent of voters. Revision 1 would amend the constitution to establish additional rights for victims of crime; create a new section to require state courts and administrative law judges to interpret statutes
during litigation between the state and private parties rather than deferring to a state administrative agency’s interpretation; and create a new section to raise the mandatory retirement age for judges from Changes
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The Marbut Report: Speaker set for Law Day
State Sen. Rob Bradley to deliver keynote on “Separation of Powers.” Public
legal notices begin on page
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