CSX Transportation CEO Jim Foote would disagree there’s a pivot to growth, and says the railroad was seeking new business all along with its transition to PSR. How would you respond to that?

I would put that in the realm of semantics — as of now CSX is still shedding (demarketing) some intermodal business. Canadian Pacific and the PSR Mothership, Canadian National, have discussed the pivot. CN called their changes “kinder and gentler;” CP used “re-engaging” before coming up with the best phrase. NS and UP may have less dramatic pivots if their collaborative strategies work.