Interesting, but un-modeled industries

[doctorwayne]

So railroads are not only their own worst enemies, but like passenger airlines, determined to drive themselves out of business entirely?

That won't help the investors much, but then again, there are actually no laws whatsoever guaranteeing a return on investment to anyone. The stock market remains the largest form of legalized gambling in the nation. Probably why there are no more buggy whip or Stanley Steamer companies.

John Kneiling used to write what I found to be a very interesting column for Trains magazine, addressing these very issues. He forecast the collapses that eventually came and the re-organisations and consolidations, too, but so many "railfans" wrote every month to complain about his whinings that the column was eventually discontinued. I suspect that there may have also been some pressure from the railroads, too. It seems that no one liked to have too much light shed on their questionable activities, and those that should have been looking at what was revealed by that light preferred to not see it.

Wayne