Trinity Industries CEO Jean Savage speaks out on rail industry challenges - Dallas Business Journal

The railroad industry needs to take a look at itself in the mirror and improve in order to stave off competition from trucking companies, Trinity Industries Inc. CEORail has a lot of advantages to trucking, Savage told business leaders at a breakfast event hosted by the Dallas Regional Chamber's board of advisors. Rail can handle more freight than trucks and do so at less cost while producing fewer greenhouse gas emissions.

"Why is rail not doing better? I’m going to tell you, it’s our own fault," Savage said."We have to get better on servicing the shippers. They need to know when they’re going to get their product. They need to know they’re going to get it on time. They also have to be able to put as much as they want on the rail.

Savage became CEO of Dallas-based Trinity Industries in February 2020 shortly after the pandemic began. Trinity manufactures and leases freight cars for the railroads, which gives Savage a unique inside look at the industry's overall operations. Trinity's revenue in 2021 totaled $1.5 billion. In the second quarter this year, revenue increased 42% to $417 million.

Savage pointed to a labor shortage as the biggest factor holding the rail industry back from reaching its potential. The shortage comes as the railroads and labor unions are currently locked in tense negotiations over a new collective bargaining agreement.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

‘What does this community need?’: Inside Fort Worth real estate - Dallas Business JournalJoel Heydenburk spoke with the Dallas Business Journal about what he’s seeing in the Fort Worth commercial real estate market.
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »

Bank of Texas promotes Mark Wade to CEO - Dallas Business JournalAbout 33% of the bank’s loan portfolio and about 27% of deposits are based in Texas. It operates 20 branches in Dallas-Fort Worth.
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »

Panattoni, Crow Holdings to break ground at former Boeing site in Washington - Dallas Business JournalThe joint venture is starting work on a 2.3 million-square-foot industrial park in Frederickson. The largest building has already been pre-leased.
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »

Omni Fort Worth Hotel to move forward with expansion - Dallas Business JournalThe $217 million project will result in a 400-room expansion over an entire city block, currently the site of a Tarrant Community College administrative building
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »

Myrtle Avenue Brewing opens in Rail Yard District - Jacksonville Business JournalThe brewery will be the centerpiece of the Jax Railroad Exchange.
La source: JaxBizJournal - 🏆 599. / 51 Lire la suite »

Gen Z buying habits are radically transforming the luxury industryLuxury purchases, known in the industry as 'aspirational' buys, could take more of a back seat to necessity shopping as financially challenged generations age and deal with a new economy.
La source: kgun9 - 🏆 584. / 51 Lire la suite »