Show me the prognosticator (government or private) who forecast the unprecedented growth in crude, coupled with a very tough winter, and a significant grain rush - all 3 of these in both the US and in Canada. This amazing forecast would have been needed a couple of years ago to allow time to adequately prepare. Then look at the number of crew that have been hired, locomotives bought, track capacity projects under way and, of course the billions being devoted to PTC.
For you fans of central planning "The Market" punished Krebs for foolishly overspending on projects such as Willow Springs (UPS hub near Chicago) and capacity improvements along the Transcon. The Children's Investment (hedge) Fund tried to take over CSX several years ago asserting the railroad needed to boost its stock price by cutting capital spending and raising rates. The market prevailed when the CSX Board was able to demonstrate their long-term approach was indeed the best for shareholders. Read about the "Big John" case where SOU had to sue the regulators at the ICC to lower grain rates due to the economies of the modern covered hopper. The ICC had denied the reduction on the basis it was supposedly designed to undermine waterway rates. Perhaps they thought the rails should continue shipping grain in boxcars with boards covering the doors.
All this may not be as interesting to some of you as the thought of as a locomotive series being retired but shows the complex environment in which the industry operates.