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Future of Railroading
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LC: I would be remiss if I stated that all class ones have embarked on programs of deferred maintenance, but I do feel that if one or more of the class ones go belly up all of the industry will be adversely affected. I am bothered though when I see a carrier divert monies from maintenance and rehabilitation to cover other corporate expenses. This is not a good situation when you consider that 60 percent of mainline bridges in North America were built before 1940. This may not be taking place where you operate, but nonetheless it is occurring in some areas. As one who depends on this industry for a living, I am concerned about its future. I don't think it's helpful to whistle past the graveyard.
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