David Vernon: Exactly, exactly. So a couple of questions for you here. First, the CapEx moderation, Kenny, you a little bit worried about how that’s going to impact you for growth? And then second, given your exposure to the situation down in Mexico, Jim, I’d love to hear your thoughts on what you think the introduction of passenger rail might do down in Mexico in terms of freight flows coming cross-border? Any perspective or insight you can share in terms of the response that FXE I think, had to give to the Mexican government in the last couple of weeks. Thanks.
Jim Vena: So Kenny, let me ask the question. Would we plan our capital, do we ever limit the capital. So you have a problem for growth?
Kenny Rocker: Not at all.
Jim Vena: Perfect. That’s the way we look at it. It’s that simple, never. So let me clear up this whole, David, because it’s a great question. And you know the answer. So you’re asking me, and you’ve heard it before, and I’m very clear on this. We build our capital plan from the bottom up to look at what we need to reinvest in the railroad and every year is a little bit different. Ties, rail equipment. We look at growth and what we’ve identified of where we need to invest. We’re opening February 1, a new intermodal terminal in Phoenix. So we’ve invested in that. We’re a quick turnaround. We don’t fool around anymore. That would have been like a 6-month, 1-year discussion. We turned around and in November, said there’s a market there.
And February 1, we’re opening up a place. So we’re able to invest quick, and that’s the way I look at it. When we built it up, we came up with $3.4 billion. That is not a hard number. If there’s an opportunity for us to invest to grow this company or invest that we need to on the replacement and the – what we do every day to operate the railroad, we’ll invest. And we never ever skimp on safety, maintenance of the railroad, the capital cost we need and the growth. So we are there. I have no issue. And on the passenger service, listen, I give both the FXE and CPKC. They’re saying the right things, and I agree with them. We – there’s an interaction when you have passenger service that affects you, but there’s nothing that you – that I’m worried about because they can’t figure out how to mitigate that and still operate a freight and passenger railroad efficiently.
So I’m very comfortable that, that will not have a significant effect or really any effect as they move ahead. I’m sure that they will just move ahead and they’ll be operating some passenger service on the railroad. So hopefully, we answered your question, David.
David Vernon: You did. Thanks very much.
Jim Vena: Thanks. Operator, Rob, maybe if I can just soon as we’re done with the questions, I wouldn’t mind just recapping and if there’s a few people on, that’s great. And if everybody else has got off, then I’m talking to my team here, and they love to hear the story. So bottom line is, this is – we have a great railroad. We have a franchise that allows us with the business mix to go up and down with – because not one area ever. And you wish 1 year that every segment that we had industrial premium, okay, and the bulk would all grow at one time, that’s not the way the world is. I’ve never seen it in my career. We need to be able to have the resiliency and the capability to react on what’s happening. We don’t know what’s going to happen this year, but I’m telling you, fundamentally, we are on the right track to deliver.
The team is engaged. We’re excited and we’re looking forward to winning this year. We have goals to grow revenue with our service, and we also have goals to be the most efficient operationally railroad in the industry. So I’m looking forward to 2024. I’m excited. The team is excited, and I’m looking forward to talking to all of you in 3 months and see how the first quarter went and to see how we’re growing and what we’ve done at this point. So thank you very much.
Operator: Thank you. Ladies and gentlemen, thank you for your participation. This does conclude today’s teleconference. You may now disconnect your lines, and have a wonderful day.+
