Kyle Ortiz/iStock Editorial via Getty ImagesBusiness Overview & History Railroads were first built in the 19th century, peaking in the early 20th century. Facing immense competition from automobiles, airlines, and a panoply of government regulation, over the 20th century, there was a long process of industry consolidation via mergers and acquisitions that shaved down 1,200 small rail carriers to just 6 giant freight rail companies today. CSX Corporation (NASDAQ:CSX) is one of the giants that is the outc ...