The true purpose of the 2-day STB Star Chamber was clarified in the very 1st session when one Commish referred to Agribusiness Trade Associations as “farmers” & another stated, “I think RRs are hurting America’s ability to feed the world in the Ukraine war – do you agree?”
Maybe the STB will dislike the Street less after Patterson’s testimony, still, my friend despite not accrediting the “Cult of the OR” to its author and chief critic, who spoke truth to the choir but I fear added impetus to the idea that the GOVT can offer the solution
Patterson’s realities: labor/loco shortages knotted; while RRs have beaten the market (4X) since ’04, traffic is FLAT; that was PSR enacted in the US to IMPROVE poor service (not the cause); despite Cult, RRs must Pivot to Growth. All true; No credit given for growth PLANS – fair enuff
TY for the Shout-Out Mr. Chairman! Oberman cites RailTrends & me on L/T investors in RRs, asking whether Street has patience for Growth Pivot; unlike panelists, I still think so if the TREND LINE shows volume/service improvement (we invest for the future, not the present)
Anthony B. Hatch
abh consulting
http://www.abhatchconsulting.com
anthonybhatch@gmail.com
Twitter @ABHatch18