Replies to post #17913 on The Rising Influence of Rising Affluence

[DewDiligence]

(UNP/CSX)—WSJ bearish write-up on Tier-1 railroads:

https://www.wsj.com/articles/hunter-harrisons-train-overhaul-starts-running-out-of-steam-11566552603

Significant cost efficiencies in train scheduling have already been implemented, making it hard for these companies to obtain further improvement in operating margins. Moreover, the coal-hauling business is decreasing every year due to the replacement of coal by natural gas as a source of power generation.