As New York Penn Station marks a century of service, planners are gearing up for the next 100 years. A century ago, the Pennsylvania Railroad was in the midst of one of the most expansive infrastructure capital programs in the history of the United States.
If the past few months are any indication, the answer is yes. Just ask BNSF. BNSF Railway posted a double-digit return on net investment for the 12 months ending June 30, 2010—right through the worst of the Great Recession.
I’m sitting here during the Dog Days of summer recuperating from major surgery as well as the experience of advising one of the potential purchasers of GE’s railcar leasing business, which was for sale up until recently.