Are the U.S. railroads moving ahead?
Bentz: Most assuredly, yes. The railroads, for the first time since deregulation, are able to earn the cost of capital. And it is interesting to observe that as soon as they did that, the government and the shipping public acknowledged that you need to earn your cost of capital to be a sustainable business. The next thing is people wanting to go to Congress to lobby for reregulation because the railroads are charging too much. What makes railroads different than the trucks on highways and aircraft in air lanes? Very simply, railroads are the only mode of transportation that owns its own right of way. The airlines don’t. The steamship lines don’t. And the trucks don’t. This is capital-intensive business. There are not a lot of alternative uses for the rails, as someone once said, other than long and narrow motels for railroad right of way. Give us some measure of the productivity issues in railroading? I have been struck by the productivity gains in the industry. I am recalling from dat