Wick Moorman CEO of Amtrak

[Seaboard92]

Amtrak has just announced their next CEO. Former CEO of Norfolk Southern Wick Moreman.

http://www.wsj.com/articles/amtrak-names-new-ceo-1471618771

 

[Mystic River Dragon]

For real? Absolutely for real? Wick Moorman was my first choice, but I thought we had no chance because he was going to completely retire.

I am almost in tears I am so happy. This is the best Amtrak news I've heard in ages , and it looks like maybe they realize they are in so much trouble they do need someone who loves his work and knows what he is doing.

 

[TylerP42]

I'm happy that it looks like a person who will run Amtrak like a railroad instead of a buisness will be in charge.

 

[Agent]

I don't know a lot, but this looks like it has a fair chance to go well.

With W. Graham Claytor Jr. being the former president of the Southern Railway, this feels at least a little bit like history repeating itself.

 

[Bob Dylan]

I'll defer to those in the know at Amtrak and familiar with Moormans Record @ NS,( all I know is what I've read) but on first glance this seems much better than some Political Hack or Lobbyist from K Street!

Good luck to Amtrak and hopefully Amtrak Joe Biden will join the board when he departs the Vice Presidency in Jan.of 2017!

 

[jis]

As someone said on Facebook: "Let the Amtrak Steam program begin"

Kidding aside, this is an excellent choice, and at least I am happy to see that it is someone who is not a NEC-centric person. See? My new abode is showing. He should be able to negotiate better with the Class Is and make better progress on the LD network. Now only if he can get equipment that is actually built and delivered.

 

[Seaboard92]

I am very pleased with the announcement. I've actually met Wick on several occasions he is truly a nice person. And someone that I feel will do a good job. He has started from the bottom of the totem pole at Southern Railway and worked his way up to the CEO of its successor. He has a good grasp on how a railroad runs. That and he has a good grasp on people. And his executive train is one of the nicest I've ever been on.

 

[TylerP42]

I do not want to see an amtrak steam program. That's money that can be much better used elsewhere.

 

[StriderGDM]

TylerP42, I doubt highly you'll see an Amtrak Steam Program. It's only in reference to his work at NS, which is pure marketing/nostalgia. I suspect he won't see an advantage for doing the same at Amtrak.

 

[Seaboard92]

No but then again it could make it easier for steam engine excursions with Amtrak crews. As I would know dealing with special operations can be a hard to thing to do. And maybe he can fix that to make steam operators have a chance to run special trips. But that isn't his first priority. And I guarantee you he will be meeting employees on the ground. And he will also meet with passengers.

 

[jis]

I do not want to see an amtrak steam program. That's money that can be much better used elsewhere.

We are just being a bit humor challenged, are we?

 

[zephyr17]

I am pretty sure that was [joke]Let the Amtrak Steam program begin[/joke].

Mr. Moreman sounds like a much better pick than I would have imagined they'd make. In fact, he sounds like about the best possible pick.

 

[west point]

Wonder how he will handle the auto router problem ? NS might claim that he cannot testify about the delays it caused.

 

[Seaboard92]

Another bonus for trains that use NS he still has powerful influence over that company. I've been on NS steam trips working after he retired from them and you better believe every NS employee went up and spoke with him. And treated him with upmost respect. Then he ran the engine

 

[PRR 60]

I'm happy that it looks like a person who will run Amtrak like a railroad instead of a buisness will be in charge.

Norfolk Southern is a railroad AND a business, and a pretty successful business at that. He also know how to run a safe operation for both the public and employees, something that has challenged Amtrak in recent years.
The best news is that he is not yet another transit, government agency lifer with no clue how to run a railroad or a business.

 

[crescent-zephyr]

Wouldn't have dreamed this was possible. Fantastic news!

 

[ParanoidAndroid]

Moorman's salary at Amtrak will be $1 a year, with an annual bonus of $500,000 tied to performance goals, according to The Wall Street Journal.

What! Probably a typo.

 

[PRR 60]

Moorman's salary at Amtrak will be $1 a year, with an annual bonus of $500,000 tied to performance goals, according to The Wall Street Journal.

What! Probably a typo.

Not a typo.

 

[MattW]

This does indeed seem to be good news! He's a Georgia Tech grad so that's definitely a plus!

 

[jis]

Here is a bit of unstructured rambling on my part ....

It would be interesting to see what effect this has on the hope echelons of Amtrak Executive Suite - how many VPs remain and how many go bye bye, etc.

I also wonder if he would bring back on board people like Brian Rosenwald who was rather callously shoved aside by the current management. Will he work towards trying to maximize revenues on LD service given what is available? Or will he try to cut costs to profitability, something no one has ever successfully done AFAICT.

The performance based bonus thing can be a two edged sword. Hard to tell what will come of it until the Board decides to share what the performance metrics are. For example, if the Board in its infinite wisdom decides that one of the performance metrics is "How well do you satisfy Mica", then we are screwed. From some noises that we have heard from the Board, indications are that they are very concerned about what has been done to the LD BU, and were frustrated that they had no levers available to them to actually force a change in approach. If the rumors are true that the current CEO was kept out of the loop in the new CEO selection that also says something about what was going on.

But these are all speculations based on rumors. We shall just have to wait and see. Won't we? Keep an eye out for executive departures and appointments after he comes on board, and also how he interacts with the employees and the Board. That will give some early hints.

 

[Bob Dylan]

Excellent topics for thought and discussion jis!

Knowing Brian Rosenwald and his record, I would hope he would be one of the first Executives named to help get Amtrak back on track!

Some of the bean counters and lifers at 60 Mass are probably polishing their resumes!

 

[Mystic River Dragon]

jis,

My impression (and that is all it is--just the feeling I get about him) is that he is one of those people who is secure enough within himself that he is not afraid of John Mica or anyone else. (After all, he had to deal with Hunter Harrison, and that's about as tough an enemy as you could come across.) And also secure enough that he can be that rare combination: an excellent businessman combined with a truly gracious and sincere personality.

I would imagine that, the first year, he will take stock of what is most in need of fixing and deal with that. If he stays longer, then perhaps we will see some dead wood go and some excellent people return. (Jim, you might have to be patient just a little bit longer! )

I think his biggest strength is that he will be approachable and listen to ideas from all sides (maybe even us! )

Also, I realize it's probably obvious, but what does the acronym "BU" stand for in regard to long-distance trains? Thanks....

 

[Caesar La Rock]

Wow, just incredible. Someone who actually ran a railroad will be running Amtrak. Sure haven't seen that in a while.

 

[MikefromCrete]

All right, Moorman is a good choice. A railroad executive who actually seems to enjoy railroads. He'll bring some new ideas and energy into the operation and will know how to negotiate with the freight rails. Looking forward to see what happens.

 

[jis]

Also, I realize it's probably obvious, but what does the acronym "BU" stand for in regard to long-distance trains? Thanks....

Business Unit. A common acronym used in businesses that organized around a number of Business Units.