Jim Vena: You bet. And on the border, I’m disappointed that the border was shut down, and I do not think that’s the way to move forward. I think there is a problem. There’s a humanitarian issue. I personally went down with some members of the team to go visit. And it’s very difficult when you see people crossing the river and the mother with a child coming and then falling into some razor wire. That is not something that anybody should see. But at the end of the day, for us, I think it’s more important that the border crossings are fluid, and we are doing everything, investing in systems to make sure we protect the railway crossings that we do not have people crossing on the trains. And we’ve done a really good job of that. People are not crossing coming across from Mexico into the U.S. or vice versa on the trains, and that’s what we will continue to do.
And we will work close with customs and we have. Customs understand they have a problem, and we’ve worked very closely with them, and we will continue to have meetings and discussions so that we will do everything we can to make sure that the rail operation is not impacted as we move forward.
Ben Nolan: All right. Thank you.
Operator: The next question is from the line of Ravi Shanker with Morgan Stanley. Please proceed with your question.
Ravi Shanker: Thanks, everyone. You guys said that you’re looking to push on rail length, which is train length is understandable. Just want to see kind of how much room you have to kind of get more leverage there, A, kind of given your efforts already kind of how much more like physical space is there. Also, I think given some of the kind of regulatory scrutiny around train lengths kind of is this something that you guys can do by yourself? Or do you need to get the kind of STB or Congress is going to sign off on it?
Jim Vena: Yes. Thank you for that question. So core to your question is how do we think about train length and how do we execute that? So let’s put volume to the side just for a second. Do our trains have capacity for more train length? Absolutely, yes, 100%. The work that we have in front of us that we’ve been executing now for years and will continue to is to make sure that all of our systems behind the scenes continue to first identify those opportunities. And as we’ve always been to be exceptionally prudent about actually working through our physics engines and to understand exactly how to build our trains. That’s science. And like all science, it evolves. And every quarter, every year, we see new opportunities to be able to keep capitalize on this.
So I’m not going to guide you to a specific number, but I’m going to tell you, we see some opportunity there. You’ll see us capitalize it in ’24, and I’m excited and appreciate what the team is doing to make that happen. Thank you, Ravi.
Operator: Our next question is from the line of Brian Ossenbeck with JPMorgan. Please proceed with your question.
Jim Vena: Morning, Brian.
Brian Ossenbeck: Hey, good morning, Jim. Thanks for taking the question. Just a quick follow-up first on the work rest rules. Is there anything in your guidance, where you’re assuming that SMART-TD actually does come on board? Or so far, you’re just assuming that it’s the BLE. And then maybe for Kenny, obviously mix is probably harder to forecast than volume, but the two are related. So maybe you can just give us a sense in terms of some of these market pricing adjustments for coal and intermodal that have been more of a headwind than not the last couple of quarters. Is that something that we should anticipate also being a potential headwind into next year? Just curious how much visibility you have on that, knowing that it’s probably truck and natural gas dependent. But I guess is that directionally worse in ’24 than perhaps it was in ’23? Thank you.
Jim Vena: Jennifer, why don’t you handle the…
Jennifer Hamann: In terms of the work rest piece, we do have an assumption that we’ll come to an agreement probably sometime later in the year. So that’s part of our overall thinking.
Kenny Rocker: So you look – you asked the question about intermodal, domestic intermodal. First of all, if you look at where the rates have been, I’ll differentiate the spot rates of the last 4 months sequentially, shown, I’ll call it, very slow gradual increase, which is encouraging. The same issue on the contractual side, very slow gradual improvement sequentially the last 4 months. So I can’t get into saying whether I think over the next 3 months, that’s going to continue. We’ve got a lot of mixed feedback from customers, but encouraged by what we’ve seen in the past. I’ve said this before that we have mechanisms in our contracts for our suite of customers to keep them competitive, real time and times like this. And as the market improves, I would just mention some of those indices, it will help us some of those mechanisms that we have to procure a little bit more price and better margin.
Jennifer Hamann: Yes. And Brian, I think you also asked a broader mix question in terms of next year. And obviously, with a lot of unknowns about volume, it’s hard to answer that. But the big drivers there really are in the intermodal front. And largely so goes intermodal, so goes the broader mix for UP. We obviously have mix within mix [ph] As I know you’re also aware. And so when you think about just the premium category with automotive being very bullish on that as we think about some of the contract wins and what’s happening in that market, that may help your overall premium mix, particularly if you’ve got some down, and then we’ll see how the rest of the categories play out. But that’s the big swing factor for us in 2024.
Jim Vena: Thanks for the question, Brian.
Brian Ossenbeck: Okay. I appreciate the thoughts. Thank you.
Operator: The next question is from the line of Jordan Alliger with Goldman Sachs. Please proceed with your question.
