August 19, 2025 – TCU/IAM and the Brotherhood of Railway Carmen Division respond to the latest news of the Ancora Holdings campaign at CSX Transportation.
Ancora Holdings recently announced they are a growing shareholder at CSX Transportation which employs thousands of our members. However, Ancora has made it clear that their focus is not on building a stronger company for the future, but on driving short-term profits, at the expense of essential jobs and reliable rail service.
“Ancora’s plans are nothing more than another version of Precision Scheduled Railroading, and the entire country has seen the damaging effects that model has had on our industry,” said Artie Maratea, National President of TCU/IAM.
Ancora’s advisor team includes Jamie Boychuk, who previously held a senior leadership role at CSX during a period marked by some of the company’s most significant customer servicing challenges in recent history. Given that record, it is difficult to imagine Mr. Boychuk being a part of any business model that seeks to keep CSX Transportation moving in the right direction.
“We cannot afford to take steps backwards on safety and staffing. Our members’ ability to do their jobs in properly inspecting and repairing freight cars is critical. We have seen firsthand the devastating results at other railroads when these priorities are ignored,” said Don Grissom, General President of BRC.
Under its current leadership, CSX has made real progress. Maratea continued: “CEO Joe Hinnrich’s leadership played a large part in reaching a timely agreement without invoking mediation for the first time in recent history. Nothing is perfect but we’ve come a long way and we need to keep moving forward. I am confident Ancora does not have the long term interest of CSX or its employees at heart.”
Read the full article: Activist Ancora Pressures Railroad Operator CSX to Explore Deal