@CSX Al posted:
That’s sad considering on how the economy has been the great under 45 and I’m sure UP has seen a surge in business & profits during this time.
Not so great, in fact, and not for the railroads.
You may not have been keeping up with railroading. Railroads have been slumping for several years. This has been discussed before on the Forum. This from Bloomberg's:
American Railroads Are Already in Recession With No End in Sight
October 7, 2019, 4:00 AM CDT Updated on October 7, 2019, 10:32 AM CDT
Carloads tumbled the most in three years in third quarter
‘There are no pockets of growth in cargo', analyst says
This year’s railroad slump is getting worse as a slowdown in manufacturing threatens broader weakness in the U.S. economy.
There’s no bottom in sight as the decline in carloads for large U.S. railroads widened to 5.5% in the third quarter, the biggest drop in three years, according to weekly reports from the Association of American Railroads. Shipments are down for autos, coal, grain, chemicals and consumer goods, with crude oil the only bright spot.