News / North American rail operators put profits before customers, claim shippers

18/05/2018

North American rail operators have been accused by shipper organisations of putting Wall Street analysts before customers.

Shippers are frustrated by poor service and tight capacity and blame the Class One rail companies of scrimping on investment for the sake of higher profits.

A shipper survey, published by investment ...

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Gary Ferrulli
May 18, 2018 at 4:26 pm
One of the “benefits” of deregulation, you can’t really complain about hang nails any longer and get a quick and positive response. Thousands of miles of track abandoned, many, many locations deleted (more coming). They are running a business, not a public utility. They cater to the large shippers, who were the real impetus behind deregulation, but on a pure business basis. Do they care more about Wall Street than they do their customers? How are they paid (top management). Profitability and stock price. Mr. Buffet didn’t buy a railroad because he was philanthropic.

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