TRANSPORTATION

CSX to Take $699-Million Charge: CSX Corp. said it will take a $699-million charge against second-quarter earnings to pay for labor agreements aimed at reducing the size of its train crews. The Richmond, Va.-based company said the charge, which will come to $450 million after taxes, stems from agreements that have been reached or are being negotiated between its CSX Transportation Inc. unit and the United Transportation Union. Under the agreements, CSX will reduce the number of crew members on most freight trains from three to two. A spokesman said the agreements allow workers to leave with a severance payment of $135,000; workers who stay will get from $43,000 to $57,500.