After deregulation in 1980, competitive pressures forced the large U.S. freight railroads to restructure. Much attention has focused on defensive (cost-cutting) restructuring: until 2004 employment was reduced by 60%, and railroads abandoned many of their lines. Less attention has been given to...

After deregulation in 1980, competitive pressures forced the large US freight railroads to reduce costs and restructure, resulting in an economic renaissance of the US railroad companies after years of poor financial conditions. The most striking restructuring measure receiving much attention...

We investigate the restructuring of the US freight railroad industry after its deregulation. An econometric analysis of the joint effects of 'defensive' and 'strategic restructuring' reveals that, unsurprisingly, downsizing of the physical network has affected financial performance positively....

After deregulation in 1980, competitive pressures forced the large US freight railroads to reduce costs and restructure, resulting in an economic renaissance of the US railroad companies after years of poor financial conditions. The most striking restructuring measure receiving much attention...