How do you view market share pricing wars between rail carriers and possible government intervention if railroads increase pricing power to combat growing costs? (Tony Hatch - ABH Consulting)

One only has to look to the Prairie Provinces of Canada to see the fallacy of rail regulation and its impact on investment. Pricing wars within the rail sector are a new potential threat as CPKC tries to wrest N/S share from incumbents, but I don’t think that will be as big as the rails-versus-the-highway theme. For rails it all comes down to consistent service – provide that and a “virtuous circle” can form: service to volume to price to capex to better service – and rails can prosper…