You're the best! If you lock down threads, the people who need to learn the most, don't get to!
A comment I couldn't let slide; something about how a railroad doesn't belong in the real estate business. That couldn't be more out of line with reality.
The key to survival is DIVERSIFICATION. If the Santa Fe didn't have all kinds of assets outside of railroading like real estate and uranium mining to name just two examples, they would have FALLEN FLAT ON THEIR FACES during the lean years if they only had their railroad to rely on.
Another example of diversification getting a corporation through was New York Central's assets. Once stripped by the Penn Central and spun off independently, what happened? The Penn Central had NO CUSHION to fall back on when the troubles began to mount.
Irving Corporation LTD in New Brunswick; "An Oil Company doesn't have any business in TREES?" one might ask? Irving is EVERYTHING in the Maritimes, including;
Paper Products
A Chain of Hardware Stores
KENT Home Supply (ie Home Depot)
SNACK BARS & Convenience Stores & Truck Stops.
Home Heating Oil
GAS STATIONS
That's just the tip of the iceberg for Irving. Irving is such a monopoly that there is a movement to boycott their products. If Irving didn't have the diverse holdings that it has, it wouldn't be looking at building a 12 Billion dollar refinary in St. Johns, all out of pocket.
And gee, what else did that Oil Company do? They bought the trackage that Canadian Pacific gave up, and they can cheaply move their products around on their own railroad!
If Canadian National (likewise CP) didn't have a chain of hotels, real estate and other diverse assets, they wouldn't have the capital to play with. I don't see CN in a lean period that would justify selling off the property in Montreal, therfore, I see it as foolish to shed a money maker and NOT saving its liquidation for a rainy day.
D/