We certainly have lost business to BN, as an example. In the context of negotiation, you have to remember that the vast majority of our customers are very large shippers. The top 150 customers of CN represent about 80% of our revenue. These are large multinational companies that have many means of exerting influence and pressure in the negotiation.
Even if we look at grain companies as an example, and we think about the amount of capital they're investing in new elevator capacity or in waterfront terminals, whether or not that elevator capacity comes on CN or CP is a huge amount of leverage in the context of commercial negotiations. When we look at a lot of the existing regulation, such as the final offer arbitration process or the level of service agreements, to suggest that shippers don't have various means of exerting pressure in the negotiation.... Some of these customers also, by the way, have extensive operations in the U.S., where the regulatory framework is different, but again, it gives them another means of exerting pressure. I think that pressure existed before this regulation. I think it's a nice way of saying “we need even more because shippers need even more leverage”.
I don't find that to be true in our case. I think our concern is that having that legislation and, with long-haul interswitching, broadening it even further, risks the sustainability and integrity of the Canadian rail network. We view that as a significant problem in the context of it really being the backbone of the Canadian economy.