This first article is a primer on shareholder activists and the moral threat they pose to our Railroads, the backbone of our economy. They impose the notions of Milton Friedman and Shareholder Primacy on the target Railroad. The Railroad is forced to put “shareholder owners” first (with PSR), and the other rightful stakeholders, mainly customers and shippers, can just have the middle finger! Railroads are an vital industry and they don’t exist just for shareholders!