Fred Frailey of Trains Magazine posted a column yesterday (Sept 30) on the NS meltdown:
The new normal is highly abnormal. Lots of specifics in his column on the delays on Monday and Tuesday and the reasons why. Track work for Indiana Gateway projects are contributing to the mess.
Mr. Frailey's earlier columns agree with my analysis: the aged "pygmies" (his word) running the Class Is are mired in the past, and somehow can't comprehend the fact that railroading is *expanding* and they need to *expand*.
http://cs.trains.com/trn/b/fred-frailey/archive/2014/09/20/should-the-chinese-expand-u-s-railroads.aspx
http://cs.trains.com/trn/b/fred-frailey/archive/2014/08/17/outrages-on-the-rails-the-real-story.aspx
If I were running BNSF, I could solve all the problems quite quickly; I'd phone Buffett, tell him the dividend was cancelled this year; call the head of training and recruitment and start a serious program to hire a lot more people; issue more bonds; have the marketing department tell me where shipping demand is increasing, have the operations department tell me where they need extra capacity to feed that demand, and build it. It would a bit trickier for NS, which has to float on the stock market, but it should be possible.
I'm not sure things will get any better unless the execs die off and are replaced by younger people who understand that this is an *expanding* business.