2/19/2009

Wow, even CSX gets it, this is exciting.

It's very exciting to see that all the major railroads, even my favorite perpetual screwup CSX, are onboard with the general wisdom that they need to keep up their capital investment expansion programs despite the major recession.  They have such a legacy of under-investment to overcome that it will take decades before they catch up on everything that's been deferred - the last thing they can afford to do is make big cuts now.
"What have railroads traditionally done in recessions?" he asks. "Cut, cut, cut. And when business comes back they can't handle it. The result is that railroads lose market share." - Michael Ward (chairman and president of CSX)
[Trains interview, behind subscriber loginwall]

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