Canadian Pacific held its annual Investor Conference Dec. 4-5 in New York City; its first since Hunter Harrison took over as President and CEO and began dramatically reshaping the railroad. I caught Harrison’s Tuesday evening opener via webcast and was impressed with what I heard, teeing up, as it did, the Wednesday main event, which CP Vice President Investor Relations Janet Weiss invited me to attend.
Even The New York Times, the nation’s newspaper of record, missed, in its lengthy obituary, the absorbing connection between railroads and former Republican Sen. Warren Rudman of New Hampshire, who died Nov. 19 at age 82.
Union Pacific’s annual gathering of short lines in late October was all about giving short lines access to more tools, neatly arranged for ease of access, to bring more business to the railroad.
The Pacific Northwest Association of Rail Shippers fall meeting in Eugene, Ore. was instructive, to say the least. I thought the session theme—“What do you want your railroad to look like in five years?”—was particularly fitting, given the slow volume improvement from the 2006-7 peaks and the better operating metrics over the same time.
Railroads these days are enjoying good “fracking” business—no pun intended—and Wall Street has taken notice.