We need to look at the past evidence. Future evidence may say something different, but past consolidations have had a positive effect on transportation as relates to rates, productivity and efficiency. In the UP-SP and other mergers, Ms. Morgan said, the board strongly believed trackage rights create adequate competition. Following approval of the UP-SP merger, shippers have filed petitions with the STB seeking to create greater competitive access in the merged system. Ten petitions cover issues related to transloading and contracts.
Oversight is an important part of ensuring that the conditions imposed work.
We believe they will, but the oversight is there to make sure they do.