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I only examined the studies from the infrastructure perspective, not equipment or operating cost, but at least for that aspect of the studies, I did not see any padding or gold-plating. RWM
[quote user="Murphy Siding"] From the end of WW II until probably the passage of the Staggers Act, it seems railroads were on a downward glidepath. Was the decent gradual, or was there an event or change, that caused the people in the industry to feel railroads were headed for the point of no return? [/quote] Tipping point was 1906. Gross traffic continued to grow but market share peaked, major construction ceased, profitability peaked. Following factors were key: Regulation was given teeth
Smaller. What you're looking is called the "toepath" and it's surfaced with what is called "subballast." On a modern railroad that actually has a true subballast, it extends beneath the ballast and consists of a crushed rock product with fines that is roll-compacted to provide a water-resistant layer that water draining throught the ballast section will sheet-flow on its surface and into the ditches to each side, as well as to provide a load-bearing layer that will spread
More a case of no investment at all -- the companies re-invested their free cash flow for productivity improvements, but there was no longer new money flowing in from equity purchasers. Look at the stock prices and market capitalization -- that will tell the tale. I'm on the road and thus no Moody's or annual reports ready at hand, but that would be where I'd start. (Ed, you out there?) A more illustrative way of seeing what's going on is to simply look at the whos of who is investing
How about total market cap for all rail equities 1897-present, by year? That in a table anywhere? RWM
Paul -- Adding to Latah Creek, the most famous continuous bridge for a railroad I would think would be Gustav Lindenthal's bridge at Sciotoville. Also worth noting is that swing bridges become continuous bridges in the closed position. RWM
I was mulling over the same question. I think the answer is, "we sort of don't." It gets too fine-grained to try to zero out the inflation each year because it's volatile and the method by which inflation is calculated is not uniform. Instead, let's take an average inflation rate for the entire period, graph it as a slope. We overlay the annual railroad total market cap, with its own y axis scale, subtract out the distance between each of those points and the slope, and the
Here's photos. http://home.comcast.net/~steelmanjules/coalore_pr_page.html http://www.railpictures.net/showphotos.php?location=AK%20Steel%20Mill Geneva Works had 2, one for coal and coke, and the other for iron ore and limestone. Somewhere in the garage I have photos I took on various visits. RWM
Not really comparable except that all coal mines share the same life-cycle of discovery, exploitation, and economic exhaustion either because the resource is used up or, more typically, because the cover gets too deep. Peace River Coal of which Tumber Ridge is a field is a complicated mix of met coal for coking, met coal for PCI (pulverized injection into blast furnaces) and steam coal. The PRB's market is 100% U.S. "compliance coal" for power generation. The Peace River's market
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