It is not in excellent shape. It is riding the coattails of investments made a century ago, optimizing profits through consolidation, relentless squeezing of co

It is not in excellent shape. It is riding the coattails of investments made a century ago, optimizing profits through consolidation, relentless squeezing of costs, and minimal investment in growth. Freight rail companies have constantly reduced routes and cargo types while increasing latency, discarding just about everything in order to focus on low-cost bulk transportation of extremely high-tonnage regular loads like coal and grain, while becoming more and more uncompetitive and impractical for transportation of flexible or timely loads like containers, refrigerated products, and manufactured goods. The freight trains have meanwhile gotten longer and slower, and overgrown the rails that they run on. American freight rail is eating its seed corn without investing in the long term. It remains efficient at transporting the bulk goods that it is currently handling, but it's far below what freight rail's potential should be, or perhaps even what it once was. Trucking has taken up the difference, but that's not because trucks are better-suited to such jobs. It's because the highway investments are paid for by the government, and railway investments are not.