Wednesday, June 15, 2011

From the Editor: Are the media finally understanding us? (June 2011)

Written by 
From the Editor: Are the media finally understanding us? (June 2011)

By William C. Vantuono, Editor

 

william-vantuono-web.jpg

Something encouraging seems to be happening out there in the media—the non-trade media, I mean. The railway industry is getting more and more attention, and it has nothing to do with grade crossing collisions or hazmat moving through your backyard. It has to do with the important business of moving goods and people in the most efficient way ever devised.

FOX Business News weekday 1:00 p.m. anchor Lori Rothman, an accomplished journalist who spent a decade at Bloomberg before joining FOX, “gets it.” Following an excellent “American Icon Series” special report on Union Pacific in which FOX reporter Dagen McDowell spent a day at UP’s Omaha headquarters talking with CEO Jim Young and other senior executives, Rothman (pictured)—a Metro-North daily rider—offered me her views on “why the railway industry has become so important to the news media.” What she had to say is nothing new to us, but that it came from someone so prominent in the general news media is, well, encouraging:

“While the railroad industry may have a reputation for being old-fashioned, it actually remains one of the most important contributors to the U.S. economy.

lori_rothman.jpg

“What’s more, every rail job supports another 4.5 jobs somewhere in the economy, from suppliers, manufacturing, retail, and services. Railroads make huge capital expenditure contributions to the economy. Major freight railroads have projected capital expenditures of $12 billion in 2011. They are a great gauge of the health of the broader economy. In fact, Wall Street investors look at the Dow Transports Index as a leading indicator for the direction of the stock market. Often during a downturn, an uptick in the Index will signal a turnaround for the broader markets.”

Again, this is nothing new—to us. If it were me talking, you’d probably say, “Thanks for making the obvious less obscure. Now please tell me something I don’t already know.” But it wasn’t me. It was Lori Rothman. Thanks, Lori, for doing your part to educate the general public—something railroaders really need to do more of.

william-c.-vantuono-signatu.jpg

 

William C. Vantuono, Editor-in-Chief

With Railway Age since 1992, William C. Vantuono has broadened and deepened the magazine's coverage of the technological revolution that is so swiftly changing the industry. He has also strengthened Railway Age’s leadership position in industry affairs with the conferences he conducts, among them Next-Generation Train Control, Light Rail, and Rail Insights. He is the author or co-author or editor of several books, among them All About Railroading; John Armstrong’s The Railroad: What It Is, What It Does; Railway Age’s Comprehensive Railroad Dictionary; and Planning, Engineering, and Operating Light Rail, With Applications in New Jersey.

Get the latest rail news

Rail news and analysis from Railway Age, IRJ and RT&S by email