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  "docSlug": "92348fc1e371",
  "documentTitle": "Canadian National Railway (CNI)",
  "authorId": "20_TCI_Fund",
  "authorName": "Sir Christopher Hohn",
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  "presentationDate": "2021-08-31 00:00:00",
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  "density": "dense",
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  "notes": "The slide uses a consistent color scheme where CN is highlighted in yellow/orange to distinguish it from peers.",
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      "kind": "callout",
      "text": "CN has underperformed on every expense metric",
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      "kind": "chart",
      "text": "Purchased Services/RTM, 2016-2020",
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      "text": "Equipment Rents/RTM, 2016-2020",
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      "kind": "chart",
      "text": "Labour/RTM, 2016-2020",
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      "kind": "chart",
      "text": "Fuel/RTM, 2016-2020",
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      "text": "expense per RTM",
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      "text": "RTM: revenue ton miles\nSource: TCI analysis",
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      "text": "Canadian National",
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