And as far as PSR relating to BNSF, the article below addresses that. I discuss this issue, and have for years, with several guys who work for NSC who live close to me and the re-opened yard that almost adjoins my property. It isn't a grand draw-the-line-in-the-sand PSR or not thing, not an absolute change to adopt a more car focused (instead of train focused) model, it is greatly more complex that that and has been part of the operating equation for decades.

HH was a cut to the bone guy, and that's what made him popular with those focused shorter term- fast forwarding the big stock increase and then they leave and go to the next railroad. NSC is reversing countless things they did to run up earnings and I can absolutely assure you this is, as we say, just the beginning.

The article is a few years old.

supplychaindive.com - Bnsf PSR adding logistics centers