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H OW SHORT LINES CAME TO BE & THEIR BENEFITS TO THE INDUSTRY.
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Transcript of H OW SHORT LINES CAME TO BE & THEIR BENEFITS TO THE INDUSTRY.
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HOW SHORT LINES CAME TO BE & THEIR BENEFITS TO THE INDUSTRY
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Excessive railroad regulation and increased competition from trucks and barges led to weakness in the railroad industry up until the 1980’s
In the 70’s more than 21% of the nations railroads were bankrupt
Freight activity was down from 75% in the 20’s to 35% in 1978
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Railroads did not have access to the capital needed to properly maintain the infrastructure
47,000 miles of track had to be operated at reduced speeds because of unsafe conditions
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Congress passed the Staggers Rail Act of 1980
Under deregulation the railroads could invest in their infrastructure and bring the industry back to prosperity
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Allowed railroads to base their rates on market demand
Allowed confidential contracts
Streamlined procedures for sale of rail lines to new short line railroads
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Numerous mergers
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Short lines allow shippers access to more than one Class 1
Increased competition Shippers are happy
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Funding put into infrastructure
Preserved rail service and jobs that would have been lost with out the creation of the short lines.
Quicker transit times
Shippers are happy
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ROI – rose from 4.4% in the 80’s to 7.0% in the 90’s to 8.0% in 2009
Rail market share is 43% of freight market, more than any other transportation mode
Short lines operate approximately 45,000 miles in 49 states, and employ 19,000 workers
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