Daily Record Financial News &
Thursday, July 16, 2015
Vol. 102, No. 174 • One Section
35¢ www.jaxdailyrecord.com
Public safety, projects and kids
By David Chapman Staff Writer A steady thread throughout Mayor Lenny Curry’s campaign was his desire to elevate public safety. Priority No. 1, he called it. Not far behind was funding programs that benefit children and keep them safe before and after school. His first budget speaks to both — and more. According to budget legislation filed Wednesday, Curry wants to
fund 40 more police officers and another 40 community service officers. He’ll put $3 million more toward the Jacksonville Journey programs determined after a review. Sam Mousa, Curry’s chief administrative officer, has led a budget “swat team” for the past month that’s pored over city departments for revenue and expenditures. It’s their work and Curry’s priorities that went into Curry’s first budget and that will formally be
presented Monday to City Council. The $1 billion budget also offers, what Mousa calls a “significant” capital improvement plan and an influx of new vehicles. The city employee cap doesn’t take a hit and city departmental budgets will at least stay at current levels. “Some got a little more … but nothing less,” Mousa said. It was done without a tax increase. Budget continued on Page A-4
File photo
Curry’s priorities clear in budget
Mayor Lenny Curry
Meet and greet at Hemming Park Railroad’s
earnings better than expected
Downtown stakeholders gathered Wednesday morning at Hemming Park to meet Jake Gordon, the CEO of Downtown Vision Inc. He’s been on the job two months.
Photo by Max Marbut
By Mark Basch Contributing Writer
New DVI executive still in the ‘learning phase’
By Max Marbut Staff Writer Getting to know who’s who and what’s what Downtown was the theme Wednesday morning at Hemming Park. It was a continuation of the agenda for the past two months for Jake Gordon, Downtown Vision Inc.’s CEO since May 11. The nonprofit dedicated to promoting the urban core invited business and property owners as well as arts, cultural, entertainment and sports providers and venues to the park for a light breakfast. The event was a chance for people to meet Gordon. “We’ve been working on getting his face
Public
out there,” said Bill Prescott, DVI board member. In addition to getting to know the DVI staff and board members, Prescott said he and Gordon have been spending time at City Hall, meeting members of the new mayoral administration transition team and City Council as preparations for the 2015-16 budget are underway. “We’re still in the learning phase,” he said. Previously director of the urban promotion agency in Camden, N.J., Gordon said one of his first impressions of Jacksonville in general and Downtown in particular is the mindset of the community. DVI continued on Page A-2
legal notices begin on page
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“We need to make the most of the small-town atmosphere. A small town is a great place to live, work, play and invest.”
Jake Gordon DVI CEO
Published
For several years, one of CSX Corp.’s major goals has been to increase the efficiency of its railroad and improve its operating ratio. The Jacksonville-based company has targeted an operating ratio — its operating expenses divided by revenue — in a mid60s percentage. So it’s not surprising when CSX this week reported better-than-expected second-quarter earnings, a major reason was a big drop in that operating ratio to 66.8 percent, from 69.3 percent a year earlier. “This is our lowest (operating ratio) by far,” Chairman and CEO Michael Ward said in an interview Wednesday. Ward said there were three reasons for the improvement. One was pricing gains on its freight shipments and another was lower fuel costs. Ward When fuel prices rise, CSX passes on the added costs to its customers. When fuel prices drop, CSX records lower revenue because it is not collecting that surcharge, but that also reduces its expenses by the same amount, so it improves the operating ratio. The third reason for the operating ratio drop was efficiency improvements on the railroad. As an example, Ward said scheduling changes in its merchandise transportation business are reducing the number of trains traveling per week while still offering customers faster service. CSX became more efficient even while increasing its headcount. Although CSX cut about 300 positions in its headquarters early this year, its average headcount throughout its system rose to 32,052 in the second quarter, 672 more than last year’s second quarter. CSX
for
26,701
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consecutive weekdays