Subject: Re: Operating earnings
I don't see why it's not a good idea.

My read is that BRK is very sensitive to customer relations and how that impacts their regulators. Their reputation in their regulated industries is strong, and they wish to maintain that. So they've been slow to adopt PSR.

That doesn't mean that economics and competitive financial performance won't force them to do so. It's just seeking the right balance between customer service and financial returns to their owners. How will BNSF's owner - who must represent not only himself but shareholder's interest - vote on that balance?

I have to believe that's been a factor so far - a very patient, long term focused, owner.