by Wolf Richter, Wolf Street:
“Many modes are reporting limited capacity or no capacity at any price shippers are willing to pay.”
Everyone in the industry is loving it.
“The environment for us right now compared to where we were at the end of last year is dramatically different,” CSX CEO Jim Foote said Tuesday evening, when the railroad reported that earnings had jumped 72% from a year ago on a 6% revenue increase. “In terms of the pricing environment and the capacity environment, it’s a good time to be in the railroad business,” he said.