If you order a paperback book, slower delivery time via the mail or UPS is fine. But if you've ordered a fur coat, then FedEx is more of an option.

The investment community has developed an incredible fear of railroad mergers. A lot of people think the court will reverse the moratorium. That's more important than fuel prices right now.

They'll have to do something. If he senses in six to nine months that the deal is going forward, he can't sit there for years and watch them cherry-pick their best freight.

It's unbelievable to be sitting here a year and a half after the integration and still seeing this low level of Norfolk earnings. They couldn't have done these cuts on day 1 because service was paramount. But service levels have been back up for six-to-nine months.

It still doesn't carry the day. But as e-commerce grows, it's becoming more significant. I'll end up eating those words one day.

A lot of people think Federal Express is an Internet play -- it isn't. They forget FedEx is a high-end transportation provider. The transport companies benefiting from the Web boom now are the Post Office and UPS, which are hard to invest in.

Right now, the timing of this is difficult. There's no doubt a price increase of this magnitude would be justified by the costs. But it's not what the shipping community is willing to hear right now.

The tender offer tells me a lot of ups employees are incredibly loyal, that they believe in the company long-term. But I think there could be some selling of shares and until that overhang is taken up through higher demand, it will put pressure on the stock.

I've been waiting most of my career to see these guys go public. I can't think of a bigger and better company in recent memory that's decided to do this.

Consensus moves markets, and UP certainly has the momentum now. A healthy UP is good for everyone.