(Mark. B. Solomon – DC Velocity)
The CEO of Canadian Pacific Railway (CP), E. Hunter Harrison, took to the Internet yesterday in a one-man dissection of the state of an industry that he warned faces a difficult future unless it can conduct business free of excessive government involvement.
Harrison, who held an extraordinary solo conference call with all interested parties just hours after Calgary, Alberta-based CP posted record third-quarter results, said rail consolidation appears to be the only logical path to alleviating network congestion, which will only get worse as volumes continue to grow. Harrison said he was receptive to alternate remedies to the bottlenecks that have plagued North American railroads for more than a year. However, in affirming his support of rail mergers, he asked rhetorically, “If service isn’t good right now, what’s out there to improve it?” Read more here.