Hosted by Michigan State University Broad College of Business Management Education, the “Rails to the Future: 200 Years of Progress, Building What’s Next” conference brought together rail executives, analysts, educators, regulators, and logistics leaders for three days of candid dialogue and industry collaboration at the MSU Management Education Center in Troy, Michigan. The May 11–13 event focused on the future of freight rail, the importance of long-term growth strategies, and the role of education and innovation in shaping the next generation of rail leadership.
The conference was intentionally designed to prioritize conversation and exchange over traditional presentations. Extended Q&A sessions, interactive panels, networking opportunities, and open forums allowed participants to engage directly with industry leaders and peers on some of the rail sector’s most pressing opportunities and challenges. From established railroads and equipment providers to shippers exploring rail as part of their logistics strategy, attendees used the conference as a platform for innovation, partnership, and future-focused problem solving.
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Three panelists during a round table speaking about the impacts of railway change.
Dean David Souder addressing the audience during "rails to the future conference"
The event opened with a welcome reception and a “State of the Rail Industry” discussion led by rail analyst Tony Hatch of ABH Consulting. The following morning, attendees heard opening remarks from Val Kucherenko, director of rail education at the Broad College of Business, who emphasized the conference theme of safety, innovation, and workforce development. Dean David Souder then delivered the opening keynote, “Developing the Next Generation of Rail Leaders,” highlighting the importance of educational partnerships and leadership development in an evolving transportation environment.
A major focus throughout the conference was the long-term financial and operational direction of the North American rail industry. Ian Jefferies, president and CEO of the Association of American Railroads, provided an industry update during the conference’s general session, while subsequent panels examined the evolution of rail finance, equipment investment, and ownership structures. Discussions featured leaders from Oliver Wyman, Railroad Financial Corporation, Trinity Rail, and other major organizations, all examining how railroads can continue balancing operational efficiency with sustainable growth.
Another highlight of the conference was the panel discussion on short line and regional railroads, moderated by Chuck Baker, president of the American Short Line and Regional Railroad Association (ASLRRA). Panelists Michael Stickel, president and CEO of Lake State Railway Company, Peter Gilbertson, president and CEO of Anacostia Rail Holdings Company, and Justin Broyles, president and CEO of R. J. Corman Railroad Group, shared compelling growth stories from their organizations and offered insights into the unique role short line railroads play within the broader freight transportation network. The discussion highlighted how each company has successfully innovated, remained agile in a changing marketplace, and maintained strong financial performance while expanding service offerings and business portfolios. Panelists also emphasized the importance of strategic partnerships with Class I railroads, demonstrating how close collaboration across the rail ecosystem creates opportunities for growth, improved service, and enhanced connectivity for customers throughout North America.
One of the conference’s defining themes centered on the rail industry’s increasing need to shift from operating-ratio-driven strategies toward long-term volume growth. Retired rail leaders and analysts repeatedly emphasized that future success will depend not only on efficiency, but also on expanding rail’s role in the North American freight economy. These discussions aligned closely with themes later highlighted in coverage by Trains Magazine, which examined concerns from retired Class I executives regarding growth stagnation and the limitations of an excessive focus on operating ratio performance.
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Three panelists during the roundtable portion of the conference
The conference’s fireside chats generated some of the event’s most memorable conversations. Retired BNSF Railway Executive Chairman Matthew Rose joined analysts Rick Paterson and Tony Hatch for a wide-ranging discussion on rail strategy, customer service, and long-term industry competitiveness. Rose argued that an “operating ratio obsession” risks limiting freight volume growth and discouraging innovation — a perspective later expanded upon in post-conference industry reporting. Additional fireside discussions featuring retired executives Clarence Gooden, Charles Moorman, and Beth Whited continued that conversation, with panelists stressing the need for railroads to pursue sustainable growth while leveraging technology and network improvements.
Insights shared during the conference were reinforced in rail analyst Rick Paterson’s post-event “State of the Rails” report, which described the gathering as a rare opportunity for retired industry leaders to speak candidly about the future of railroading. Paterson noted that many speakers challenged the industry’s continued pursuit of ever-lower operating ratios, arguing that the strategy can come at the expense of freight volumes and long-term customer growth. He wrote that future railroad leaders “need to be passionate growers, not operating ratio backsolvers,” underscoring one of the conference’s central messages.
Operational performance and network health were also recurring topics throughout the event. Paterson’s report highlighted that many major railroads currently remain in strong financial and operational condition, providing a solid foundation for future growth if the industry can achieve consistent annual volume increases. Conference participants discussed how advancements in technology, improved network fluidity, workforce development, and stronger customer partnerships could help position rail as an even more critical component of North American supply chains in the years ahead.
Federal leadership perspectives added another important dimension to the conference. Federal Railroad Administration Administrator David Fink delivered remarks on “Building What’s Next,” while Surface Transportation Board Chairman Patrick Fuchs discussed the regulatory outlook and future opportunities facing the rail sector. Their participation reinforced the conference’s emphasis on collaboration between industry, regulators, and educators to support modernization, infrastructure investment, and long-term competitiveness.
The conference concluded with a closing keynote from Ronald Batory, executive director of the Center for Railway Research and Education and Edward A. Burkhardt Chair in Railway Management, who reflected on the industry’s two centuries of progress while encouraging attendees to continue building toward the future. By combining historical perspective with direct industry dialogue, “Rails to the Future: 200 Years of Progress, Building What’s Next” successfully created an environment where leaders across the rail ecosystem could exchange ideas, challenge assumptions, and identify opportunities that will shape the future of rail transportation for decades to come.
