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GLGi: Rail Industry Forecast

GLGi: Rail Industry Forecast. Toby Kolstad. Council Member Biography

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GLGi: Rail Industry Forecast

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  1. GLGi: Rail Industry Forecast Toby Kolstad

  2. Council Member Biography Toby Kolstad is President of Rail Theory Forecasts, a firm providing consulting and forecasting services in North American rail freight traffic and railcar demand. Mr. Kolstad has more than 35 years of experience in the railroad industry. He also has experience in managing railroad operations. Prior, Mr. Kolstad was Vice President at Greenbrier Leasing, Director of Car Management at The Denver and Rio Grande Railroad, and General Superintendent for the Illinois Central RR. He holds a BS in Mechanical Engineering from Tulane University, an MS in Applied Mathematics from the California Institute of Technology, and an MBA in Operations Research from the University of Chicago.

  3. About GLG Institute GLG Institute (GLGiSM) is a professional organization focused on educating business and investment professionals through in-person meetings. It is designed to revolutionize the professional education market by putting the power of programming into the hands of the GLG community. GLGi hosts hundreds of Seminars worldwide each year. GLGi clients receive two seats to all Seminars in all Practice Areas. GLGi’s website enables clients to: • Propose Seminar topics, agenda items and locations • View and RSVP to scheduled and proposed Seminars • Receive a daily briefing with new posts on your favorite tickers, subject areas and from trusted Council Members • Share Seminar details with colleagues or friends

  4. Gerson Lehrman Group Contacts Emily Ramey Energy & Industrials Gerson Lehrman Group 850 Third Avenue, 9th Floor New York, NY 10022 212-984-3680 eramey@glgroup.com Aaron Liberman Sales & Marketing Gerson Lehrman Group 850 Third Avenue, 9th Floor New York, NY 10022 212-984-3684 aliberman@glgroup.com Christine Ruane Senior Product Manager Gerson Lehrman Group 850 Third Avenue, 9th Floor New York, NY 10022 212-984-8505 cruane@glgroup.com

  5. IMPORTANT GLG INSTITUTE DISCLAIMER – By making contact with this/these Council Members and participating in this event, you specifically acknowledge, understand and agree that you must not seek out material non-public or confidential information from Council Members. You understand and agree that the information and material provided by Council Members is provided for your own insight and educational purposes and may not be redistributed or displayed in any form without the prior written consent of Gerson Lehrman Group. You agree to keep the material provided by Council Members for this event and the business information of Gerson Lehrman Group, including information about Council Members, confidential until such information becomes known to the public generally and except to the extent that disclosure may be required by law, regulation or legal process. You must respect any agreements they may have and understand the Council Members may be constrained by obligations or agreements in their ability to consult on certain topics and answer certain questions. Please note that Council Members do not provide investment advice, nor do they provide professional opinions. Council Members who are lawyers do not provide legal advice and no attorney-client relationship is established from their participation in this project. You acknowledge and agree that Gerson Lehrman Group does not screen and is not responsible for the content of materials produced by Council Members. You understand and agree that you will not hold Council Members or Gerson Lehrman Group liable for the accuracy or completeness of the information provided to you by the Council Members. You acknowledge and agree that Gerson Lehrman Group shall have no liability whatsoever arising from your attendance at the event or the actions or omissions of Council Members including, but not limited to claims by third parties relating to the actions or omissions of Council Members, and you agree to release Gerson Lehrman Group from any and all claims for lost profits and liabilities that result from your participation in this event or the information provided by Council Members, regardless of whether or not such liability arises is based in tort, contract, strict liability or otherwise. You acknowledge and agree that Gerson Lehrman Group shall not be liable for any incidental, consequential, punitive or special damages, or any other indirect damages, even if advised of the possibility of such damages arising from your attendance at the event or use of the information provided at this event.

  6. Rail Theory Forecasts Rail Trends Progressive Railroading New York City October 3, 2007

  7. New Railcar Deliveries

  8. Factors Affecting New Railcar Demand • Growth in rail traffic • Railroad operating efficiencies • Popular new railcar designs • Rate of replacement of old cars

  9. Railroad Traffic Growth

  10. Railroad Operating Efficiencies

  11. Popular Car Introductions • Double-stack Intermodal Cars 1985 • 73’ Center-beam Flatcars 1988 • 286k Aluminum Coal Cars 1994

  12. Railcar Replacements • 1995----50 year service life approved by AAR for all railcars built after July, 1974 • 2006----65 year service life approved by FRA & AAR for selected car types

  13. Coal Cars

  14. Coal Car Deliveries

  15. Annual Change in Coal Production (%)

  16. Coal Train Speeds

  17. Coal Car Fleet Age ProfileJuly 2006

  18. Flat Cars

  19. New Flatcar Deliveries

  20. Intermodal Traffic Growth

  21. Growth of TEU Imports on West Coast

  22. Growth of U.S. Softwood Lumber Production

  23. Flatcar Fleet Age ProfileJuly 2006

  24. Tank Cars

  25. New Tank Car Deliveries

  26. Ethanol Production(million gallons)

  27. Domestic Ethanol Supply/Demand1000 gallons

  28. Disposition of Corn Cropmillion bu.

  29. Covered Hopper Cars

  30. New Covered Hopper Deliveries

  31. Traffic Growth Rates

  32. Covered Hopper Fleet Age ProfileJuly 2006

  33. Railcar Builder Estimates2007

  34. Railcar Builder Estimates2008

  35. Rail Theory Forecasts Rail Trends Progressive Railroading New York City October 3, 2007

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