Question-and-Answer Session
Operator
Thank you. We will now take questions from the telephone lines. (Operator instructions) The first question is from Bill Greene, from Morgan Stanley, please go ahead.
Bill Greene – Morgan Stanley
Yes, good afternoon. And Hunter, wish you all the best.
Hunter Harrison
Thank you.
Bill Greene – Morgan Stanley
The question that I have to start is on currency, so when the Canadian dollar was last at parity, we certainly saw a suffering of the transporter trade, and the economy was quite a bit stronger at that point, so how do you think about how this will affect your volumes from here? Does parity actually mean you could see lost customers and that they actually can afford to operate anymore, how do you think that will affect the business?
Jim Foote
Well, Bill, this is Jim. You know, the biggest area where we saw the impact when the dollar moved towards parity was in the forest products business and that business right now is really I would think to the point where we are not going to see any kind of material change to the dollar move from where they become more accustomed in the $0.80, $0.85 range, up to a dollar. You know they were accustomed and had focused more on the actual higher 60, low $0.70 range. And so the move was much more significant and it took some time to adapt. So I don't anticipate certainly not anticipating the kind of issues that we saw with the move up last time.
Bill Greene – Morgan Stanley
So currency you don't think affects growth at all at Prince Rupert because that is primarily originally it was designed as a US destination port anyway, is that fair?
Jim Foote
US dollars, we prize that traffic in US dollars.
Bill Greene – Morgan Stanley
Okay. And then the second question, I don't know if this is better for Hunter, for Claude, but CN's already incredibly inefficient, so how do you think about exploiting that going forward? You talked in the past about maybe letting them, the operating ratio creep up a little bit, just in terms of trying to win some new business. Is there another way to exploit that? Does it make sense to try to think about acquiring anything that is maybe non-contiguous and sort of improving their operations or how do you think about the best way to exploit your already leading costs?
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