The railcar leasing industry didn't appear out of nowhere - it was born the moment railroads stopped trying to do absolutely everything (they even owned hotels + golf courses!) + started focusing on the one thing they actually do best. In (Rail)Car Talk, Harris + Sydney are back with Erica Ray, SVP of Sales at AITX, for Part 2 of their conversation, this time focusing on the mechanics of railcar leasing + what it actually takes for a new shipper to get their hands on equipment.

Erica doesn't sugarcoat it: for a first-time shipper, breaking into the railcar market is not the easiest thing. She walks through the whys of that + what technological advancements could do to close the gap. The conversation also touches on what current market activity is signalling, from data center buildouts driving boxcar + aggregate hopper demand, to the rising appetite for cement.

Shortlines get their due, as the most underrated part of the industry, + Erica shares her reflection on what a career in rail does to your grit. Spoiler alert: it builds it considerably because nothing is as bad as a bad day on the railroad!

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

Erica Ray, SVP of Leasing at AITX, didn't plan on a career in rail, but rail, as it turns out, had a plan for her. In "From RACS to Rail Leasing," Harris + Sydney sit down with Erica to trace a career that spans revenue accounting at Norfolk Southern (ask her all about RACS!), a front-row seat to the PTC era, a little rail-inspired stand-up, + a move to equipment leasing at AITX, which she views as both rewarding + considerably less stressful.

Erica brings her candid, been-there perspective to discuss some of the most common railroading headaches, as well as where she sees it all going in the near-term. Thick skin required, optimism optional - but, luckily, she has plenty of both!

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

They own the equipment that keeps freight rail moving, but chances are, you don’t really give them a second thought. In “The Lessor of Two Evils”, Harris + Sydney really zoom out to talk about one of the rail industry's most essential + oft overlooked players: railcar lessors.

Lessors own + lease cars that shippers depend on to move their goods across the freight rail network. It’s a simple premise, but behind the scenes is a surprisingly complex operation.

Harris + Sydney also dig into where they foresee the lessor space heading, namely telematics + predictive maintenance. Scale is everything here + widespread implementation is still likely 5 to 10 years away. It’s a true duality: plenty of opportunities on the horizon, but plenty of challenges still to be faced.

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

The forecast is calling for grain, grain, grain…with a slight chance of geopolitical disruption + a 40% probability that everything changes again before next week.

In Cloudy with a Chance of Carloads, Harris + David return with Telegraph’s Q2 2026 Market Consist. As we head into summer, they break down what they are seeing in data - mostly that grain carloads are looking really strong, chemical moves are definitely facing headwinds, + that shipper-friendly market we’ve all enjoyed this last year? It might just be closing up shop.

With the USMA renegotiation up in the air - which could easily impact cross-border freight volumes - the fact that 2026 is basically tracking on par with 2025 is actually something close to good news.

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

Railroads have always used technology, but the question is: are they using the right technology for the current time? In The Fast + the Cautious, Harris + Sydney explore one of the most debated, + perhaps most misunderstood, topics across the industry: technology adoption across the railroads.

They make the case that railroads are doing better than they are typically given credit for, given the consideration that their number one priority will always be safety + the reality that they will only successfully implement technology when it is financially beneficial for them to do so. They also juxtapose all of that against the needs of frustrated shippers who just expect more in 2026.

Their friendly debate also includes everything from shortlines + API feeds to how the railroads can remain competitive against trucking - which is typically faster to adopt technology overall. Tech adoption is increasing across the board + technology itself is only getting faster. So the question remains: can railroads keep up, or will they always be the more cautious part of the supply chain?

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

When conflict half a world away closes the Strait of Hormuz + sends West Texas Intermediate (WTI) crude past $100 a barrel, the ripple effects don't just stay in the Middle East, they also show up on American railroads. In "Crude Intentions," Harris + David connect the dots between the escalating energy crisis + what it actually means for shippers, equipment owners, + Class I operating expenses.

David, a former US Department of Energy economist who once had to explain anything above $28 per barrel crude to the Secretary's office, puts the current numbers in sharp relief. The pair then digs into the mechanics of fuel surcharges, as well as railroad earning call expectations.

The episode spans everything from tanker cars to corn + soybeans. They also pull back the curtain to examine the US-China trade relationship + what a newly complicated energy dynamic could mean for intermodal volumes. The bottom line? When energy markets get this volatile, nothing on the freight rail network is insulated.

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

In this episode of “Talk Track”, David sits down with Larry Gross - a 46-year rail industry veteran, award-winning “intermodalist,” + long-time market analyst - to tackle the tough question: does US intermodal have a long-term growth problem? Larry breaks down the data behind his viewpoint - comparing intermodal’s 10-year performance to GDP, import TEUs, + long-haul truckload. He also explains why intermodal share has stagnated despite nearly constant claims that it is actually the industry’s growth engine.

David + Larry break down the intermodal math that really matters to shippers: rail doesn’t have to beat truck on speed, but it does have to beat it on cost. Larry argues that years of simplification + interline avoidance may have optimized the railroads…perhaps at the expense of leaving growth on the table.

Talk Track, hosted by Harris Ligon + David Correll of Telegraph™, is a spin-off series dedicated to timely rail industry news. From service shakeups to technology breakthroughs, each episode delivers a behind-the-scenes perspective on all the happenings shaping the future of freight rail.

Harris + David will bring their decades of rail experience to help them parse through the latest industry headlines, evolving regulations, + the long-term forecasts for how railroads move freight across North America. Find us at telegraph.io/insights, Apple Podcasts, Spotify, or wherever you listen to your favorite podcasts.

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.

In Season 2 Episode 2 of Don't Dwell On It, Harris + Sydney revisit Peter Sims’ Little Bets + explore how small, iterative experiments can compound into meaningful change - personally, professionally, + across the rail industry. In a year that is sure to be defined by uncertainty, they argue that waiting for clarity isn’t a winning strategy, rather, making smart, manageable bets is.

From railroads adjusting service windows + cutoff times, to shippers attacking demurrage + testing intermodal conversion, Harris + Sydney challenge every railroading stakeholder to rethink their “we’ve always done it this way” model. In 2026, progress may not come from sweeping transformation, but from a club of operators willing to test, learn, + improve - one little bet at a time.

About Telegraph

Telegraph is a leader in delivering digital solutions to railroads, shippers, logistics service providers, terminals, + railcar leasing companies. With an integrated platform that provides price transparency, shipment visibility, + proactive business intelligence, Telegraph empowers customers, and makes shipping by rail easier + more effective. For more details, visit www.telegraph.io and follow us on LinkedIn.