Railroad News

KCS adds administrative functions to EVP Erdman's duties

Kansas City Southern recently promoted Warren Erdman from executive vice president of corporate affairs to EVP of administration and corporate affairs, effective April 1. He will report to Chairman and Chief Executive Officer Mike Haverty.

In addition to his current responsibilities for federal, state and local government and regulatory affairs, corporate communications and community relations, Erdman now will manage administrative functions, including the legal department, claims, real estate, industrial development, facilities and U.S. railroad police security.

Prior to joining KCS in 1997, he was chief of staff for Sen. Christopher Bond (R-Mo.) for 10 years. Erdman also previously served on the staffs of Missouri governors John Ashcroft and Christopher Bond.

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KCS adds administrative functions to EVP Erdman's duties

3/30/2010    People Rail News: Kansas City Southern

Kansas City Southern recently promoted Warren Erdman from executive vice president of corporate affairs to EVP of administration and corporate affairs, effective April 1. He will report to Chairman and Chief Executive Officer Mike Haverty.

In addition to his current responsibilities for federal, state and local government and regulatory affairs, corporate communications and community relations, Erdman now will manage administrative functions, including the legal department, claims, real estate, industrial development, facilities and U.S. railroad police security.

Prior to joining KCS in 1997, he was chief of staff for Sen. Christopher Bond (R-Mo.) for 10 years. Erdman also previously served on the staffs of Missouri governors John Ashcroft and Christopher Bond.

...

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KCS reins in costs to mitigate effects from revenue, volume declines

Similar to the other Class Is, Kansas City Southern was rocked by the recession’s impact on revenue and earnings in the first quarter, but steadied itself by controlling costs.

Today, KCS reported revenue of $346 million, down 23 percent compared with first-quarter 2008. The Class I’s traffic volume declined 15 percent primarily because of the weak U.S., Mexican and global economies, reduced fuel surcharge revenues and a weakened Mexican peso. Revenue dropped in four of five business lines, with only coal recording volume and revenue gains.

KCS recorded a net loss of $7.5 million compared with net income of $32.9 million in first-quarter 2008. The railroad reported a negative impact of $5.9 million from debt retirement costs and $5.1 million in a foreign exchange loss associated with the weakened peso.

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