Whether it's steamships disrupted by the railroads or railroads disrupted by the airlines, it's typically the large entrenched incumbents that are displaced by innovators.
Sentiment: NEGATIVE
The rage for railroads is so great that many will be laid in parts where they will not pay.
Since the invention of steamships distant countries have become like those that are near at hand.
The economic tsunami has hit all airline employees. With the 2001 terror attacks, airline bankruptcies, pension terminations, loss of pay, changes in work rules - we're all working harder and longer than we used to.
Farmers, merchants, manufacturers, and the traveling public have all had their troubles with the transportation lines, and the difficulties to which these struggles have given rise have produced that problem which is even now apparently far from solution.
History has shown that incumbents tend to fight trends that challenge established ways and, in the process, lose focus on what matters most: customers.
A lot of airlines have come and gone.
Freight mobility and movement, while not a sexy policy issue, is a highly important one. Capacity constraints and congestion on our nation's freight rail system create many problems.
Consequently many large railroad systems of heavy capitalization bid fair to run into difficulties on the first serious falling off in general business.
It's a combination of targeting higher paying jobs in these growth areas and fostering closer cooperation with higher education; a rising tide that lifts all boats.
Railroads are the primary economic beneficiaries. It's a difficult project for the public sector.