 I want to start out by thanking Mr. Matt Rose, who's here to speak to us today, and also Burlington Northern Santa Fe Railway for sponsoring this event. We're very thankful that you have underwritten our lunch for us today and are here to share your time with us. I also want to thank the Latino Young Professionals Organization, which helps out on all of these luncheons and co-sponsors with Steer Fort Worth. I'm going to introduce Maury Padilla here in just a minute for him to say a few words. But before I go there, I just want to encourage everybody who's here to keep in mind the few events that we're going to be having coming up for Steer Fort Worth. Our next luncheon is actually going to be on March 21st, and it's going to be at Brits at 1.30 in the afternoon. I don't have here what the program is going to be, so I'll check with Keeman and we'll give you that update. There's also some flyers on your table about, I believe this is the Fit Worth event that's coming up on March 7th. So if you're interested in that, we have some more for you to take, and be sure to put that on your calendar. We're very excited to have Matt speak with us today and share transit-related information and what BNSF is doing in the community. If you want to know more about public transit in Fort Worth, then I would encourage you to stay tuned to our public transit, Steer Fort Worth Public Transit Facebook page, and be on the lookout for a competition and pledge campaign that's going to be, we're going to be starting here in the next few months. We also have an exciting mixer coming up for you in May, coordinating with Bike Share and a few of the other organizations in Fort Worth. So more information will be coming out about that. And we're also looking forward to launching a trans saver program in May. So if you are interested in public transit or need that extra push, be on the lookout for that because we hope that will encourage many more people to participate in using the transit opportunities that are currently existing Fort Worth. So I'm going to ask Maury to come up now and share with you things about Latino young professionals. Thank you, Amy. I'll be very brief. My name is Maury Padilla, the Latino Young Professional Organization. I'm really, really, man, these just get better and better every time I come to these luncheons and just see all you young professionals, all of us young professionals. It's so, so, so exciting. I really want to talk a little bit about OIP, we're the Latino Young Professional Organization. One of the things that we're set out to do this year is to definitely create partnerships with a lot of the young professional groups that are out there in the city. I know there's a lot of them out there. We definitely want to talk to you. Come talk to us, Julian Castillo, Ina Casanova. We've got Susie, Cynthia, we've got several representatives here that you can come and speak with us about and we'd love to sit down with you. We're doing some great, great things. Aside from the luncheons, we've got Christmas in July coming up and you guys will hear all about that. It's a young professionals thing and we're super excited about that. But with that, just again, so excited. Thank you all so much for being here. It's such an honor for us to really have your attention for this one hour and the mayor does an awesome job of bringing just awesome speakers for us to listen to. This is really an honor for us to be able to have people like Matt Rose, the leaders in our community, to be able to have access to them in these luncheons. So with that, I'll bring up the mayor. She'll make the proper introduction, Mr. Rose. So thank you so much. Please feel free to go on eating. This is a working lunch, although it's not brown bag, Matt, as we advertise it. It's a little better than brown bag, but please feel free to eat. It's great to see you guys. I missed our last big brainstorm and I really missed being with you. I think you had a video, but often talk about Steer Fort Worth and the energy and the creative juices that flow with this group and what a great group you are and how much you're doing. I'm excited about the new groups that have come in. It's just really exciting to have all three of our new groups, the arts and culture, health and wellness and the homelessness initiatives. In addition to the four we already have, you know, you've been working and we've been coordinating our Steer Fort Worth group for about 15 months now. Keeman and Jason Lambers and I met yesterday and talked about y'all and where we're going. It's kind of like this is a launching pad for the young folks, but it's also a landing pad. If you run into issues as your group moves along, you can come back and talk to us. But the hope is you will be the next generation of Fort Worth leaders. Matt, your successor may be among this group. One of these days we just never know, but it's just great to be with you. And it's always fun to hear great things about you. So keep working, keep bringing new people into it. I'm very proud of you and the energy that you've brought to this. We want to thank the Hispanic Chamber and the LYPs, Mario, for what you do to help coordinate this. Certainly we're going to thank Burlington Northern for sponsoring lunch today. That was a very sweet of y'all to underwrite it. Ed McFalls is here with Matt. Ed did the coordination and the underwriting. I'm sure Matt gave the final, but I think Ed did the actual legwork on this for us. Ed is out of control, he says. I know, I never, I get that too. I never know for sure. But thank you for being with us. Keeman and the rest of my staff, Misty is here, Brian, Jason, all of my staff. My staff continues to be a bit overwhelmed. We have great initiatives going on in Fort Worth. And I think they're overwhelmed. They just say, you know, we have the hardest time keeping up with the energizer bunny. And I keep looking around to see who they're referring to. Only I know exactly who they're referring to. You know, they're just exciting things going on in Fort Worth. And we will all take advantage of that. The passion, the energy, it's just incredible. The luncheons have provided great access. Many of you have been, but some of you, this may be your first luncheon. The speakers that we've had have just been amazing. Where do you get to spend an hour with the leader of a Berkshire Hathaway company? You really wouldn't have that opportunity anywhere else. And we've had other tremendous speakers. Coming up for 2013, you'll hear from Lily Biggins, who's the CEO, the first woman CEO with Texas Health, with Harris Hospital. Nolan, Ryan will be with you, which is gonna be exciting to see. I'm sure he's gonna tell us the Rangers are gonna win the World Series. And that'll be great. George P. Bush will be here. And I believe he will tell you about his future in politics. As well as uplift education and things that are going on with him. So it should be a very exciting spring and summer force coming up with y'all. And I know you're gonna enjoy it. But today you're gonna hear from Matt Rose. And Matt's an incredible guy. I would say young guy, Matt, but it would qualify you're definitely younger than me. You know, he's the CFO of one of the largest rail systems in North America that continues to expand. But the good news is their headquartered here in Fort Worth. There are one of Warren Buffett's companies and we had the pleasure this fall of hearing Matt and the other three CEOs from the Berkshire Hathaway companies. And it was an incredible round table, so to speak, or panel that you did in your thrones that they put up there. They put these big chairs and set them up there. And it was interesting hearing him talk about Warren Buffett and what they expect of him. Burlington Northern spans 32,000 miles of tracks across 26 states or 28 states, I believe is right. That's an incredible statistic. Matt serves on many boards, including the American Airlines AMR Board. Maybe he'll have some information for us today on the merger, as well as a trustee at our, no more than we already know, right? He's also a trustee at our hometown school, GoFrogs. And he's a pillar of the Fort Worth community. We're very pleased to have Matt with us today. Thank you for taking the time out of your busy schedule to join us and to talk to our young folks. So welcome Matt Rose from Burlington Northern. Okay, do I need to do the microphones that we can take? Or is that camera just for fun? Okay, so I guess I can't rove around too much. That's what you're talking about, too. I have no PowerPoint slides. My communications department wrote a great speech, which I'm not gonna give you. So what I thought I would do is just talk about three things. One is how the economy is doing from the eyes of the railroad because we're a pretty good kaleidoscope of the U.S. economy. Two, our leadership model, BNSF, and maybe you can relate to what we're challenged with and what we're trying to do at our company and see if it gives you any ideas from within your own organization. And then three, what it's like to run a company within a community, even though we're way outside this community as well. We operate in all these states, West of the Mississippi. And if I forget that order, you all are gonna have to help me, okay? Because I'm getting old. But first I wanna thank Mayor Price for what she's doing. This is, I was telling Amy earlier, we have a great leadership in Fort Worth. We get together what I call the Fort Worth Mafia about once a month. But it's amazing. My wife and I have been talking about this conundrum that I think the city is facing. Everybody is really getting older, much older. And the people that have done so much for this community just, they're just, are aging out like I am. But they're much older than I am even. And I don't see the next group of people coming up and it really is distressing to me. Because I wonder when these great city leaders who we've had running this, literally running this city for so many years, when they pass on, who's gonna take this thing? And I think this is a great opportunity for your generation speaking kindly to step up. Because it really does, the secret to Fort Worth, Texas. And I deal a lot in Fort Worth, I deal a lot in Dallas. There's a huge difference in the way this city's run versus the way Dallas is run. And it's the leadership collectively that we can get things done. We can get in a room with 30 people in Fort Worth, Texas and make a decision. You can't even get in a, find a room with 30 people in Dallas. I mean, they have all these different factions and all this stuff. So anyways, let me end that with a challenge to you. Continue to stay involved in the community because it's where you live. And you can sit around and complain, but unless you're involved, it's not really right. Let me tell you a little bit about the US economy. We monitor 22 sub-businesses on the railroad. Everything from minerals to clays to building products to coal, ag, intermodal, international, automotive. And we look at the US economy in terms of going back to 2006, which was the all-time peak of the economy. And things were really rockin' and rollin'. Housing was unbelievable. And we were just in a great sweet spot. Then we had the big fall, starting in the last part, the last quarter of 2006. And then we hit the trough in 2009. And if you look at the difference between 2006 and 2009, we actually fell by about 22% of all of our units. So we lost 22% of roughly 10.6 million units, just went away. And certainly it was a lot of chaos for, I'd been through a lot of things in my career, 9-11 and the Enron failures and stuff like that, but I hadn't been through this deep of a failure. So it was really quite disconcerting. We were all wondering if the US economy was gonna come back. We were wondering if BNSF would be able to borrow money. I mean, we're a deep pockets company, but we didn't know if we were gonna have access to the commercial paper markets. 2010 comes along and we were all havin' these conversations. Is it gonna be a V-shaped recovery or a U-shaped recovery or a L-shaped recovery? And do we see green shoots? You all remember all that nonsense talk? And we came into 2010 and the economy popped back. The railroad popped back about 10%. And we thought, well, this is gonna be a V-shaped or a U-shaped recovery. We're on our way back. And then 2011 came and it was 4% growth. And 2012 was about 3% growth. So we're kinda in this two to 3% economy and we won't get back to our 2006 peak until 2014, maybe 2015. So I would just argue that when the history books finally close up on this recession, which I always say is the greatest recession since the Great Depression, it will be a seven or an eight year recovery. And I would argue, hopefully, that you all will never face this again in your lifetime. This thing was really ugly. But it does appear now that everything is, again, continuing to come back. Out of those 22 businesses, we see about 13, 14, 15 of them are positive and seven, eight are negative. But the good news I think in everything is that housing has finally found its footing. And we see it in terms of our lumber products, we see it in terms of our building materials and our appliances and all that. And housing has such a spillover effect for the whole U.S. economy. I think we all underestimated it when we went into the recession and we'll probably underestimate the impact coming out of the recession. And as we get people back building houses and getting people back in the employment, that's just gonna have a huge, huge lift force. It's really important. This country, quite frankly, is not made for 8% unemployment. We don't have the social framework, the social fabric to begin to comprehend what 8% unemployment is. And we've got to get this thing going again. And I do feel like we're finally over the hill and we're finally now in the right trajectory. But you see what's going on. We're two days away now from sequestration. You see what's going on with the folks up in Washington. And it's just a shame because that will, that lack of decisiveness, that lack of leadership is gonna have an impact of probably about a half of 1% of GDP, which is kind of the last thing we need right now. The things that are really moving on the railroad, housing again, I said automobiles are moving. We're gonna have a good auto year this year. The things that are not moving is, our coal business is down by about 20%. But the one thing that's really unusual to the railroad is we're hauling oil now by railcars. And primarily out of the Bakken shell, but we're gonna see a lot of the shell locations around. And our railroad today is hauling about 500,000 barrels a day of oil, which is just amazing. By the end of the year, we'll be up to about 700,000 barrels a day. And then we kind of see a million barrels a day in our eyesight's going forward. Just to give you an idea of what a million barrels a day feels like, it'll be 22 train loads of oil hauling 100 cars of oil behind each of those cars. 100 cars of oil, 22 of those trains. Give you another illustration of what that might feel like. If you started in Harlingen, Texas and go all the way up the Gulf of Mexico, all the way to Galveston, Mobile, New Orleans, all the way down to Tampa, St. Pete, we do about a million five barrels a day out of the entire Gulf. And we all think that the Gulf is kind of the big oil play. We're gonna be hauling a million loads, a million barrels a day just on our railroad loan. So big game changer. It started certainly in the Burnett shell play here. The Burnett was all about gas and what they're finding in these other shell places is the gas is really the byproduct and it's the tide oil that is just truly gonna change our country for the better for your generation. It's got unbelievable opportunities. So let's talk a little bit about our leadership model at BNSF, we've been, this is what I call a journey. I became CEO 13 years ago when I was the tender age of 39 years old. And my predecessor told me he wanted somebody really young and that didn't have a lot of bad habits. And I was the only one available, so I got the job. It's quite amazing. And at that time I looked at quite frankly what our company looked like demographically. And we were an older company. Our average age was 53 years of age. And what had happened was we had gone through so much transition, so much mergers that we hadn't hired people for a long time. And I thought, boy, when all these 53 year olds get to 60 because they retire about 60, we're not having to run this company. And so he said, well, we gotta start really recruiting and really replacing the next generation. And then we kind of looked up and said, who would really wanna come work for this company? It's an authoritarian command and control type of structure. And it didn't feel like a great place for the people at that time coming out of school that they'd wanna come to work. So we decided we had to go through a transformation and we did and we developed what we call our leadership model. Each of your companies has one, each of your organizations you work for. If you work for a nonprofit of the city or whoever you all have a leadership model, you may not know it, you may not see it, but there is one. And so we really started with trying to focus on the two sides of performance, the how, which is achieving some goal. And then most importantly, the what. The what is how you achieve the goal and the how is how'd you do on that goal. And we started literally measuring people's performance on that and rewarding people. And we recruited to that model. We developed some tentacles of what we call the leadership model in terms of modeling the way. People don't, they won't really care what you say, they'll watch what you do and how you behave. Communication, a big part of our leadership model, creating a compelling vision of why people ought to follow in that path. And we've been at it now, this is our 13th year and I tell people we're still very much in our journey, it takes a long time to change the culture of our company, but that's kind of what we've been working on. Let me spend a few minutes on the role of being a stuff in the community. You know, when I got here on the scene, the big power companies in town were Radio Shack, Pure One, Lockheed, Bell, BNSF was just kind of coming into its own. And we've seen a lot of transformation within those companies. We've seen some of the gas guys come in, some of them are not really natives, some of them are our own subsidiaries. But our corporate structure here has changed quite a bit. And we've been real steady through that in terms of our role in the community. We try and play hard in what we do. I require each of my executives on my leadership team, which is our top 38 people, to be a part of a nonprofit, to be involved. Our foundation then comes along and supports them. We do a lot of different things from a philanthropy project. We do a thing called Stay in Track, where we put people into some of the schools locally here just to quite frankly, read with them, be with them, mentor them, they come up to the campus. We try and illustrate, you know, if you'll stay in school, stay on track, you can come work as this type of job, that type of job. And you know, there's not a lot of publicity on this program. We don't want a lot of publicity. We just got our people who've said, I'm willing to donate some time to go hang with a bunch of kids from underprivileged areas that need help. Our foundation is pretty active. We are, our foundation, when I took it over, was all about the arts. We were really big contributors to the arts at Fort Worth. We've lessened that a little bit and repositioned our foundation to help in some areas of need. We're really big United Way supporters. We will always be in the top one or top two companies in the Tarrant County. We support all the universities, the schools here, UTA, TCU, primarily out of selfish greed. We want to hire people. We want to, you know, we want to be able to find the next workforce. And so that's what we do. We're very active on both those campuses and quite frankly our CMT programs, our college management programs, are pretty much reflective of that as well. There's been a lot of debate, a lot of discussion about passenger rail in our community, transit, high speed rail, all those things. We're pretty much a company that believes that communities should make that determination whether or not they want passenger rail and at what cost. We try and help facilitate that. These things are always very, very hard. But we believe longer term as our country grows from 308 million people to 350 million people and the Metroplex grows to 20 million people. We're gonna need mass transit. We're gonna need all sorts of commuter rail, bike paths, bus, all those things. There's companies that quite frankly look at our lack of transportation in the Metroplex, our lack of mass transit and they won't live here because of that. I was on the Boeing search committee about 11 years ago. It was one of the few bipartisan efforts by Dallas and Fort Worth. And they came down, we showed them all around and one of the things they kept coming back to is where's your mass transit system? We're like, well, we got a bus, we got pickup trucks. So it didn't really work. And they literally, I mean, they moved to Chicago, I think, well, two reasons. One is the CEO had a large boat wanted to put on Lake Michigan, which never really came out. And then two because of the mass transit issues for their employees. So we'll work with the community of Fort Worth as well as we work with other communities. We operate passenger rail. We operate 300 trains a day of commuter rail around the country. It's quite amazing. We operate about 22,000 people, ride BNSF trains and commuter rail trains, Seattle, Tacoma, Chicago, LA, Albuquerque, all over the country. Okay, so that's it. Let's talk questions, comments, complaints. And I'll try and avoid your questions when I get them. Who's got the first? Yes, ma'am. Speak up real loud. My name is Sandra Rodriguez, this is good to be here. I graduated last year from my TSU and I got in the O&E business administration. I got over 10 years of experience in the railroad business and I'm applying to BNSF for about 15 years. And I haven't got the opportunity to have an interview. My question is based on the adversity, how will you include Hispanic women in the business strategy of the future? Yeah, so I sit on the American Airlines Board, I sit on the AT&T Board and I sit on, I run a big railroad and there's a big difference between those three. There's a lot of similarity because they're both network businesses but they basically fall into two different buckets, consumerism and industrial, right? So for consumerism, American Airlines literally has a program to attract New York, New Yorkers, you know how they are, New Yorkers to fly out of LaGuardia, right? They have a whole advertising that makes fun of New Yorkers because that's what New Yorkers like. AT&T has a whole effort to attract African American men to smartphones. They have a whole effort to attract Asian women. I mean, these are very deliberate, very calculated programs to reach out to what is what we call minorities in this country which is soon going to be a misnomer because they will be majorities. Okay, so BNSF, if I ran advertising to individuals for let's just say Hispanic females, we really wanna ship your loads of lumber, Hispanic females. You know, you get my point, so it doesn't really work. So why is diversity important for us? Well, the reason why diversity is important for us, when we look at our workforce, it's a tremendously diverse workforce. What, when I first started though as CEO 13 years ago, what was not diverse at all was our leadership team. It was white male. And so we have had a very significant effort, quite frankly, to recruit at the CMT level, college management training level, the intern level, higher frontline supervisors when we go out and recruit military people. We're just force feeding to get more and more diverse people up. And quite frankly, we have a goal of about 50% of our new hires to make sure that they're a diverse place because at the end of the day, what we want our leadership team to do is to reflect the communities in which we operate. Well, think about where we operate. We operate in Arizona. Well, what's that like? Well, that's Hispanic and Native American. New Mexico, same thing. Chicago, Illinois, you know, South Side Chicago, African American. North Dakotans, you know, the frozen heads. I mean, you know, we have to have people that know how to ice-fish fish. So we want our leadership team to reflect that. This is very much a work in progress. So we take it very seriously, and we do that through mentoring, mentoring circles, you know, young professionals group. We try and seed that more and more, help. And you know, what you ought to do is just get me your card and we can figure out why you haven't been interviewed. But because we're actively trying to recruit people. We have a big presence in Mexico. We have a large Mexico business unit, stuff like that. Who's got the next? Yes. During President Obama's first term, you were one of his advisors. Jobs council. Yeah, I just got laid off. Two weeks ago. Waiting for my severance check. It hasn't come. Can you help me out? I got laid off. Okay, but what were some of the pressing issues that you guys were discussing? Your hot topics. Yeah, so we had about six topics in some of them were what I called, you know, trying to boil the ocean, education, entrepreneurship, you know, transportation infrastructure. What I dealt with was quite frankly regulatory issues and the reason is because we do a lot in terms of regulations and how to cut through the bureaucracy of doing anything in this country now, building anything. We had lots of engagement with the president. You remember under one of the stimulus plans, there was this thing, coin shovel ready projects. And the president, you know, to his chagrin found out that there really were no shovel ready projects because the permitting process, NEPA, CEQA, and all these things literally grind this stuff to a halt. So let me give you an example on the railroad. We've been out in Southern California in Los Angeles working for eight years trying to get a permit to build an intermodal facility kind of like we did at Alliance. And we've spent over $40 million and it just got released last Friday. Now we will go through litigation for years on top of that. So it will be an 11, 12 year period before, since we were, we've stepped forward and said we wanna spend $500 million to build an intermodal facility to take trucks off the highway, to free up the highway for commuters to be able to run, to improve the environment, to reduce our dependency on foreign oil. And the process that we all live in said, okay, it'll take you about 12 years and about $60 million before you can put a shovel in the ground. We've lost perspective in this country in terms of that. My parents, your grandparents built the US highway system back in the 50s and the 60s under President Eisenhower and they did it because there was a national need and the whole country got behind it and there was a lot of sacrifice. We as a community today don't have a hard time getting behind those types of things. Not in my backyard, extreme environmentalism. Everybody's got a different deal. You saw when our governor announced the trans quarter project to, this concept to take all this infrastructure, highways, water line, highways, electrical lines, railroads and put them in a big infrastructure project. I mean, he got plastered for that. And there was lots of problems with that concept but the least we should have done was had a great debate in the state of Texas about the pros and cons with it. And what happened was that the NIMBYs, not in my backyard, there's one other one. Now it's, I can't say because I'm being filmed, but it's even worse. So I worked on regulatory issues. That's kind of where my passion was and even got into this project permitting reform. We had a great dialogues with the president. They took a lot of our recommendations. They didn't take a lot of our recommendations, but I felt like that we laid lots of stuff out there for them. And sometimes you, it's kind of like the Simpson-Bowles commission. When Simpson-Bowles came out, everybody kind of said, now we don't want that at all. Now as we move towards sequestration and we move towards budget, redoing the budget and the tax code and everything, you keep hearing this word, Simpson-Bowles. If you're a Democrat, you say Bowles-Simpson, Bowles-Simpson. If you're a Republican, you say Simpson-Bowles, Simpson-Bowles. But you're seeing the seeds of all that. They've got all that stuff that was, like 22 people worked for three years and they're going back and picking up all that work that was done. So I think that that's our hope with the jobs council stuff that over time, more and more stuff will be picked up. Yes. It seems like new choice, seems to be the new trend in the future. What is? New or short? New or short, yeah. So given the cost and currency, what not, do you have much of an impact you see that we'll have on the US economy and also the NSF infrastructure? Yep. So the old US economy looks something like this. We would take a raw material to a plant site, build it in the United States and then we would transport it to a DC distribution facility then they'd move it to a store and then you go in and buy it at the TGNY. You guys don't even remember TGNY. Eddie does. Walmart, I mean. Then what happened was we decided to offshore, we started taking raw materials to the coast, take them from on a boat, take them to the coast, we'd produce stuff in China. We started in actually Japan, Korea, Hong Kong, China and then we would fly it back, FedEx, UPS or we put it on a steamship line, bring it to the West Coast, bring it into the US railroad network and distribute it like that. Now we're hearing, well, what's going on? Well, we're seeing wage inflation in China, which is quite frankly a good thing because a razor standard living that will change their deck but it means that manufacturing costs are going up. So Mexico is really in a great position to have this what we call the nearshoring into Mexico but it changes quite frankly the supply chain. So places where you were investing, ports, railroads, highways, intermodal connectors, all these things, we'll have to realign some of that stuff to make sure that we can handle that. Will it eventually come back to the United States? Hydraulic fracturing has the potential to change our country's future for manufacturing specifically. It has the ability to really have a great impact. Whether or not the workforce of today, the young people today will want to go work in a manufacturing environment or not is, I don't know. And then a little bit is going to depend on what quite frankly China and India and Vietnam are going to do because they have this, there's just this enormous population population over there of 1.3 billion in China, 1 billion in India, a couple hundred million in Vietnam. And so there's just so many people over there that need to work and the government may assist in their ability to remain competitive in the global supply chain. But we'll see, but it'll have a big impact. Yes, Amy. You've run up a couple of them. What would you say is the number one thing Fort Worth should do to further our of a transit situation? Yeah, so, yeah, I mean, I say first off, as a nation, we always get into this debate about do we want high-speed rail? The reason why our country hasn't gone to high-speed rail, commuter rail and things like that is because we don't price gasoline, we don't price carbon. And people always say, will high-speed rail work in the country? I always say, well, tell me what the price of gas is going to be. If the price of gas is going to be four bucks, then the answer is no. If the price of gas is going to be eight bucks, the answer is yes. So we as a society, we have to figure out do we want to incentivize more people driving on the highways or do we want to incentivize people taking more mass transit? Europe made that decision. They priced up gas and they've gotten people out. They took all that money and they built really, really high-quality, high-speed rail infrastructure, bike paths, commuter rail, buses, all that stuff. And so when you go to Europe now, you say, do I want to rent a, we're going to Italy this summer. Do I want to rent a car? Are you crazy? You want to get on the train system or the bus system and that's how you get around. You come into DFW and you go, I'd like to have a high-speed train down to San Antonio. Like, well, that's interesting, but it's not gonna work, right? So our big society first is gonna have to get through this because nobody's gonna like hearing this, but gas is too cheap. We incentivize as a society to incentivize people to go buy pickup trucks and a lot of times with gun racks and that's how we get around. Fort Worth specifically, it's really hard. You're gonna have to have, we're gonna have to have a really understanding long-term vision. The capital piece will be easier because the feds have money and they want to splash it on us to build networks. They're trying to get people to do it. What you have to understand though is what's gonna be the ongoing operating expenses and that's all gonna be on ridership. And so the better, quite frankly, the more efficient the route stops are, the better the connectivity, like to the airport and things like that, the more people are gonna ride it, the more, the better the transit stops are, the more development around those transit stops. I mean, Chicago's done a wonderful job. We operate what's called the Naperville Line. If you go from downtown Chicago out to Naperville, that's all BNSF. I fly it every once in a while. There's not a spot left on our rail line that has not been developed around these passenger stations where people stop. You know, they stop all these locations downtown in Naperville. Developers have come in and they figured out you put, you know, restaurants and cleaners and little grocery stores and that's, but if we're not gonna do that then people aren't gonna want to ride it. City's gonna end up paying a lot of operating expense and mayor's gonna have a frowny face. I have to add on that those are not just the price of gas, but also that we will be a good block on our highways. So it's our job as a city and as a team to move forward on these projects so that people have that choice from the time comes. They didn't realize they needed that. Right. Now I have been, it didn't like when people, people didn't like me hear me say it. I live up in, you know, what the Fort Worth Mafia calls Southern Oklahoma. I live in Westlake, Texas. I mean, it's Southlake, Eastlake, Westlake. It's really not Southern Oklahoma, but that's the way these people feel down here. I've been very public saying that we are cutting off North Northern Tarrant County to downtown. We're cutting it off because of our highway congestion. And until we decide that we're gonna do something about, we're doing a great job. I mean, we're doing it now, but it's taken so long. We've missed out. I mean, I'll tell you one that I know of, I can't say it because I'm being filmed. One Fortune 100 company, we lost and they went to Irving because of our highway gridlock coming down and they were gonna relocate out to Circle T Ranch, but to access downtown, they would have had to go, you know, the 170, 35 Juggernaut and they just weren't gonna do it. Anybody else? Yes. Talking about your foundation, are you primarily active in the Fort Worth community or do you go to the communities where you're railing? Yeah, it's everywhere. We probably spend a third of the money here in Fort Worth, but then we also look at our United Way where we will contribute about, our employees will contribute about $2 million, so we think that's kind of above and beyond. But, you know, we operate in all these, quite frankly, small towns and we can put in $10,000 to do something in Alliance, Nebraska and it's a big, big deal. And we have 3,400 people here in Tarrant County, but we've got 40,000 people total. So what we've done on our foundation, when I first became CO, I was getting all these requests, would you help Little Junior's baseball team go to Sageen, Texas and play and we need $42 and so. You know, what we did, we realigned our foundation and we just told, we said, okay, listen, we're gonna do what we call matching gifts and we now do $20,000 per employee matching gifts. So when somebody calls and says, you know, we need Little Johnny's team to go to Sageen, we say, well, fine, tell you what, you put in 24, we'll put in 24 on the match foundation and you know, he can go. And so we have people that match in a big way. So what we tell people is don't come to us and ask for a company gift. If you're involved with, you know, Women's Shelter or anything, you know, don't forget to feed me. My daughter worked at that place. You know, don't come to us for a company gift unless you're given and the foundation's giving as well. You know, your money, your hard lives where you're giving your money to. If you want us to give as a company, you better be giving to. So we've given our employees lots of money to be able to fulfill their destiny. Yes. Tell us about Warren Buffet and Berkshire Hathaway. And your name's been mentioned as next successor to Buffet. I know you're not going to tell us, but... Am I on film? I'm going to make an announcement. Oops, I can't, I'm sorry. We're going to lose you though, mom. Now, so Warren is a great, great guy to work for. But you really don't work for him because he's really, really hands off. The day that our transaction occurred, and that was three weeks ago last week, three weeks ago last week, that sounds logical, three years ago last week, February 12th, 2010. I called him that day and I said, okay, Warren, you know, we just got the shareholder vote, you know. What do I need to do? You need me to come to Omaha, bring some PowerPoints, you know, show you some numbers. He's like, I don't need any of that stuff. He says, send me what you think I'm going to find interesting. Send me the financials once a month and then tell me how you're doing once a quarter. That's what I do. And I talked to him, you know, probably once a month on something that's not even related to the railroad. But at the end of the day, what he does, he has just unique ability and I've never seen it like anybody else in my life. He's got 76 companies, now we're the largest, but he has got 76 other companies that he looks at their, you know, balance sheet income statement, everything else. He knows my balance sheet better than I do. I look at it all the time. He just has a phenomenal grasp, memory, understanding, ability to cut through it. And he's just a great, you know, we go through, we do a five-year plan, which he doesn't want to see. He just, you know, I only give him a one-year plan, but we were in, October's our kind of our planning time, October, November, and we're sitting around our leadership team, we're kind of, you know, we're kind of a little goosey about the economy. Is it really back? Are we on firm footing now? Can we let the good times roll again? And what's going on here? So we put out these five-year assumptions, what's housing gonna do, what's auto's gonna do, what's CPI gonna do, what's healthcare costs gonna do. And I mean, there was like 25 of these assumptions and my little head's just kind of swimming in all these numbers, I'm thinking. You know, I just would like for somebody outside this room to be able to look at all this stuff and tell me if I'm right or wrong. Thinking, who could I send this to? I thought I went Jamie Dimon at JP Morgan. I could send it to Glen Hubbard at the White House and I could send it to Warren. So I sent it to Warren. And he, you know, he called me back the next day and said, I got all your stuff, this is what I think you're right on, this is what I think you're wrong on. It was just great to have a, you know, what I think who's, who I think is the smartest guy in the world in business to look at this stuff and just to validate what we were doing right and what we're doing wrong. I avoided that second question really well, didn't I? Yeah. Outside of Rio, what can our trans, until the balance of gas prices and what would you, what advice would you give? Yeah, I mean, I think the problem is, yeah, I think the problem is that we have a really hard time explaining to the American public in general what congestive costs can do to a society and the economic impact of congestive costs. And in public policy, we've done a really crummy job of creating confidence in our public money that's being spent on infrastructure, i.e., the bridge to nowhere, things like that. People here that bridge to nowhere and they're like, what, you want me to raise the gas tax? You wanna assess my registration fees to pay for this and that and quite frankly, even Seattle had a little trouble, had a little malfeasance with sound transit. But they were able to, you know, rise above it, demonstrate the great value of that. And so I think, you know, a group being able to really articulate the city's vision and what this city's gonna do in the next 20 years from a growth standpoint, it's not gonna work unless we do something. I mean, it's gonna be a parking lot out there. And what, again, what people don't understand in this country, we really don't have a transit problem. What we have is a freight problem, okay? It's the freight that's on the highways that's causing the problem for the commuter. So you say, well, let's just get those darn trucks off the highway, well, okay, bring them to the railroad. But, however, if you just eliminate them totally, then you will go to Walmart or Cabela's and there will be nothing on the shelves. The only reason those trucks are out there is because they're providing this big consumer area. Now, a lot of these trucks are coming in through the NAFTA corridor and we're just gonna have to, you know, that's why the trans-Texas corridor is so interesting, but we're gonna have to find ways, very creatively, with other people's money to provide bypasses made for truck routes, things like that, because NAFTA's only gonna grow. And it's only gonna clog up these highways more and more. Anybody else? We done? Thanks, great questions. Appreciate what you guys do for Forward Texas. We're gonna get a couple of gifts for you guys. The Stinky Gifts, very much. Enick from LIT, you can help us. Thank you again to Ed, Mr. Folls, for sponsoring this. Thank you. Thank you. Give me that gift. Fair man. I don't know what you did. I don't know, you both got one. I'm gonna give you two now. No, thank you both very much and we really appreciate your time here. I wanted to give Mr. McFolls an opportunity as the sponsor for this evening, this afternoon, actually, if you wanted to say a couple of words. Wow, okay. Nothing like being put on the spot, right? Well, first of all, I'm here in the presence of Roland Breedenberg, because he was supposed to be here, but he's somewhere down in Houston. And then Joanne Osowski, who is our CIO, was planning on being here, but she has a plane to catch. And so, I was the third option. But it is our pleasure to support this organization. Please, that we have several of my BNSF colleagues here. Would you please stand up? And I think Matt said it very, very well. We have an organization, a company that is seasoned, and we are constantly recruiting talent into this organization. And from a diversity standpoint, about 19% of our workforce is made up of people of color. And if you look at our hiring statistics over the last 10 years, we've actually hired 30,000 new employees into our business. 30,000 since 2003. And about 5,100 of those have been African-Americans or Hispanics. And so there are opportunities in the railroad. Most people do not think about our industry. They think about the Googles. They think about the Yahoo's and the Microsoft's. But this is a phenomenal industry that we work in. And I can say that from experience because I've worked in telecommunication. I've worked in high-tech manufacturing. And I came here from Coors Brewing Company about 10 years ago. This is one of the finest brand companies, not only in the United States, but in the world. And that is why our owner, Warren Buffett, decided to buy us. And I think when he first came out to our management team meeting, he said he had only one regret. And that regret was that he didn't buy us years ago. And so we appreciate being here. We appreciate the sponsoring. And we wish you all very, very good luck and good luck in any of the careers that you decide for yourselves. Again, thank you guys so much for coming. Thank you to LYP for being such great partners with Steer Fort Worth on these. Thank you again to Mr. Rose and to Mr. McFauls for making this event happen. Really appreciate it. You guys have a good afternoon.