Nothing really — they all still spend a lot — but their customers spend five to seven times more on buybacks as a percentage of revenues. Under normal circumstances, rails generate enough cash flow to fund a balanced plan including Capex, share repurchases, and dividends. It is the nature of business today, the shorter-term-oriented shareholders behind the restructuring and proxy-fight stories at CSX. Interestingly, CSX’s compensation plan runs to year-end 2020. After that, will that plan (and thus Capex) be modeled after PSR mothership CN?