I'm sure the "Jim Call" for Q2 will be hilarious and fascinating.
My drinking game word will be : "unprecedented"
as most anyone with a pulse might have expected.
OR control remains good, forecast to rise to 62 from 60....but CPs Q2 is typically easier than Q1.
When there's just no freight, cost is all management that can control.
And if the very best in the biz couldn't prevent a slide, then I'd suggest some people..ahem.. should be worried.
But kudos to them for having the guts and professionalism to provide the market the heads-up. There are far too many companies where they'd just keep kicking the can down the road, whistling and lying to themselves.
So a big "good luck" to peers NSC and CSX. Far more exposed to the world's worst commodity, efficiency and cost controls never been their 'thing', and a management that just got confirmed as having jobs for life no matter what.
Dear geniuses of Washington, DC:
What is so appealing about this "system" you have of being so utterly victimized by the House of Saud? Is generations of self-imposed economic masochism such fun, or is it that you just don't even remember that you actually could stop ?
Is accessing all the oil you ever wanted from a neurologically stable, politically simpleton nation like Canada so uncomplicated that you just resent it? Or dis you decide to treat Canadian oilsands like the plague out of sheer career boredom?
Mayb e you're just all complete idiots in expensive suits....?
1) Texas Pacific did not operate in the 'Age of Organized Misinformation'.
2) And the 'experience" factor --- as well as full-cycle economics, safety, envronmental, and efficiency factors --- overwhelmingly, unequivocally favors pipelines, not rail.
Myopic, opportunisitic politics is the single opponent.
And it carries the day.
,....Two of Canada’s largest pension funds are teaming up with Mexican infrastructure company IDEAL to create a toll road partnership....
....Canada Pension and Ontario Teachers’ will contribute $1.35 billion.....
...Mexico represents a unique opportunity for the Canadian pension funds, which have a long history of investing in infrastructure assets around the globe.....
It's trucks, idiots. That's where the opportunity is.
Which is what Harrison was trying to tell your and NSC's idiot, incompetent, myopic, self-interested managements.
...In a normal market the rational decision would be to remove loss-making ships from the fleet, but this is anything but a normal market. The world shipping fleet is drowning in debt.
...(he) describes how ship owners who have financed their fleets with 60% debt and 40% equity have seen that equity become worthless.
...the situation might be about to get a lot worse for loans to the shipping industry. The calculation of loan repayments and the rate of interest depend on the historic residual value of the ship at the end of the life of the loan. ....The collapse in prices for secondhand vessels will blow a hole in the balance sheet of any bank or individual that is sitting on those loans.
So "Yay, Panama Canal ! "
It was reportedly two times oversubscribed.
(If you don't understand the market price dynamics/action these past two days, that's your problem..)
So people with real money at stake just ponied up bigtime for stock.... and got their requested allocation cut back.
I'd put more weight in those facts than in the costless opinion of any anonymous BSer on this board.
It's trucks, folks. The freight growth that rail needs, and should have, is currently on trucks.
There just needs to be at least one efficient, trans-continental rail network that can compete for the business.
The industry, a vital link in the world’s supply of manufactured goods, is suffering what could well turn out to be the deepest and longest downturn in its 60-year history....
Container shipping lines have made a series of investments in new, giant vessels, and this glut of capacity has sent freight rates tumbling....
The purchasing of these huge container ships looks ill-timed, given global trade growth has been mainly sluggish since the 2008-09 financial crisis. Amid a slowing world economy, 2016 could be the fifth straight year of subpar expansion in trade.
...is not optimistic about the industry’s future. Noting how expansion of the global container fleet is likely to well exceed “fairly anaemic” trade growth during 2017 and 2018, he says: “The next couple of years look pretty bleak.”.
But hey, why let facts interfere with your BS optimism? If CSX management can completely deny reality and tell you that everything looks great, why can't you too?
You're right. Creating shareholder value is just BS for the Annual Report.
It's all about enjoying the chummy little fiefdom on the peasants' dime, hoping nothing happens to draw anyone's attention.
That they weren't grateful -- even relieved --- from the outset, and gleefully played such an irresponsible, risky game of 'gimme', borne of a complete ignorance of basic realty, earned the utter contempt of anyone with a clue.
That they remain so blissfully stupid to this day is also vexxing.
Wikipedia: Pension funds investment in infrastructure
What a mind-expanding week for you...and it's only Monday!
....how did you even find this website? Random porn search?
They should have one-car trains. With an engineer and six paramedics. And the tracks should be made of liquid metal.polyalloy thayt can fix itself...like in Terminator.
Or use a pipeline.
I know. That's crazy.