Executive Commentary

have supported the passage of comprehensive tort reform legislation in fifteen states, and we are pursuing additional solutions at the federal level to halt the exploitation of our judicial system. Additionally, Congress is making progress on a bipartisan bill to crack down on cargo theft that is robbing our supply chain to the tune of $ 35 billion annually. And earlier this year, we were relieved that the Trump Administration rolled back costly, impractical EV truck mandates.

This positive momentum builds on the landmark tax reform package enacted under the Big, Beautiful Bill, which will help trucking companies and families keep more hard-earned dollars in their pockets in the years ahead. Trucks move freight safely, efficiently and sustainably. In this difficult economy, the 8.4 million Americans employed in trucking are counting on policymakers to continue to create the conditions our industry needs to thrive.

“ The merger’ s impact would extend well beyond the railroads themselves”

Paul Nazzaro

Consolidated Chassis Management

Paul Nazzaro

CEO www. ccmpool. com

The freight industry continues to adjust to a period of subdued volumes, a stark contrast to the surge of recent years. The sharp pivot from scarcity to surplus has underscored an enduring truth: flexibility remains the most valuable asset in a cyclical marketplace. In recent years, a rush to secure equipment and capacity reshaped ownership models and operating philosophies. Those effects continue today, as the market rebalances around

efficiency, convenience and shared asset utilization. Data-driven fleet management and predictive positioning are proving indispensable— providing greater reliability and resilience while enabling operators to contain costs without compromising safety or service quality. What is emerging is a recalibration of value-based pricing, where rate stability and total lifecycle cost management are gradually supplanting volatility and reactionary pricing. The industry is becoming leaner, smarter and better prepared for the next growth phase, one defined by prudence and operational precision. The lessons of recent years— and foresight to apply them— will determine how effectively the intermodal ecosystem positions itself for the next cycle of growth.

Meanwhile, the proposed Union Pacific-Norfolk Southern merger introduces a new layer of complexity. Should the integration advance, it