As reported in our last installment, BRS members on the MRL unanimously ratified a new five-year agreement. As it was also reported, the MRL’s 60-year lease with BNSF is in the process of early termination, which will require an Implementing Agreement be reached between BRS and the BNSF. Based on the unanimous approval of the recent MRL Agreement, as well subsequent feedback received from MRL members, the committee has heard your message loud and clear. It is clear the vast majority of MRL members would prefer to remain covered under the terms of their current CBA, if possible. Accordingly, we have engaged in negotiations with both BNSF and MRL to attempt to make that happen. The parties have committed to finalizing implementing agreements with the Unions prior to completing the lease termination transaction through securing Surface Transportation Board (STB) approval. While the implementation process has not been finalized to date, we are optimistic the MRL Agreement will be maintained for our MRL members, and likely with a few enhancements. Stay tuned for more details as the situation unfolds.