Edward L. Moyers

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Edward L. Moyers Jr. (born October 3, 1928 near Meridian, Mississippi ; died June 5, 2006 in Naples, Florida ) was an American railroad manager.

Life

Edward L. Moyers Jr. grew up in Vicksburg . His father was employed by the Illinois Central Railroad . In 1947 he graduated from the Chamberlain-Hunt Military Academy in Port Hudson . He then served in the United States Navy in the Korean War . He then studied at Louisiana Tech University . He was married and had two children.

In 1955 he started working for the Illinois Central Railroad. Initially he was a track foreman and worked his way up to Assistant Division Superintendent by 1977. That year he moved to the Peoria and Pekin Union Railroad and became Vice President for Operations. In the early 1980s, the now Illinois Central Gulf railway company began to drastically downsize its route network. With the financial support of the investment company Prospect Group , he and Mark Levin acquired a network of 660 kilometers from Illinois Central in 1985 for $ 125.5 million and founded the MidSouth Rail Corporation . He became President and CEO of that company. While working for this company, he expanded the route network to 1930 kilometers.

After the Whitman Corporation had sold the railway subsidiary Illinois Central Transportation in 1988, he convinced the Prospect Group to take over this railway company. The plan was implemented in 1989 and Edward Moyers became President and Chief Executive Officer (CEO) of the newly formed Illinois Central Corporation. However, due to antitrust requirements, he had to quit his work at MidSouth Rail. After the resignation of the Chairman of the Illinois Central W. Wallace McDowell, Jr. (Chairman and CEO of the Prospect Group) in 1990, he became his successor. One of his first steps was the complete replacement of the executives and a strong reduction in management positions. In order to increase the profitability of the company, he sold unused or underused fixed assets and converted the central north-south route of the Illinois Central between Chicago and New Orleans into a single-track route. So he was able to increase the profit from rail operations from $ 18 million (1989) to $ 87 million (1990). Under his leadership, the railway company became the most economical class 1 company . He was also able to greatly reduce the company's credit burden. Moyers tried in vain to take over the MidSouth Rail. Although he had just renewed his existing four-year contract for another four years, he unexpectedly quit in early 1993 and retired. He was succeeded by E. Hunter Harrison . He then underwent heart surgery.

The owner of the Southern Pacific Rail Corporation , Philip Anschutz , was able to win him over in the same year to run the economically troubled railway company. He became President and CEO of Southern Pacific Rail Corporation and Chairman and CEO of the rail subsidiary. He managed to bring the company back into the black and win back customer confidence. He remained in this position until 1995. His ongoing health problems led him to resign in 1995.

He then continued to work in an advisory capacity in the railway sector. He supported the implementation of Brazilian rail projects.

In addition to his rail activities, he served on the boards of directors of Millsaps College and Deposit Guaranty National Bank . In 1989 he was honored with the title "Captain of Industry" by the Jackson Journal of Business . The railway trade magazine Railway Age named " Railroader of the Year " in 1995 .

Web links

Individual evidence

  1. ^ Moyers Jr., Edward L. In: Chicago Tribune . June 8, 2006 ( online obituary).
  2. ^ J. Parker Lamb: Railroads of Meridian . Indiana University Press, 2012 ( Google Books ).
  3. ↑ Chicago Sun-Times July 25, 1990 ( Memento of the original from December 2, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.highbeam.com
  4. ^ Maury Klein: Union Pacific: The Reconfiguration . America's Greatest Railroad from 1969 to the Present. Oxford University Press, S. 334 .
  5. ↑ Southern Pacific's Moyers steps down, Jerry Davis steps in. ( Memento of the original from December 2, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , Railway Age, March 1, 1995. (Preview) @1@ 2Template: Webachiv / IABot / www.highbeam.com
  6. ^ Noel Group commits $ 8.0 million to brazilian railroad venture , March 26, 1996
personal data
SURNAME Moyers, Edward L.
ALTERNATIVE NAMES Moyers, Edward L. Junior
BRIEF DESCRIPTION American manager in the railroad sector
DATE OF BIRTH October 3, 1928
PLACE OF BIRTH at Meridian (Mississippi)
DATE OF DEATH June 5, 2006
Place of death Naples (Florida)