It should come as a surprise to no one that there has arrived yet another auto industry recall, similar to the ones recently experienced by Toyota Motor Corp (TM). According to RTTNews, over 400,000 cars produced by Honda Motors LTD (HMC) are being recalled for braking issues.

Honda owners are complaining that the brake pedals in their cars have become soft and low-riding over time. Honda Motors has attributed the problem to the vehicle stability assist modulator, stating that an accumulation of air is causing the problem.

There has been a recent avalanche of press coverage regarding the alleged engineering problems being experienced by Toyota Motor Company (TM). Pretty much all of that press coverage depicts a company that is writhing in shame on the one hand and that is desperately looking to retake a foothold within itself on the other. My initial reaction to the knee-jerk downward pressure on TM that seems to be the result of this situation is: Really, you have got to be kidding.

First of all, how many of the people who might be reading this blog found themselves taken aback by the announcement that some automobiles were being recalled? Yes, I understand that the potential vehicle problems are serious. Yes, I understand that the situation affects literally millions of vehicles. However, at its root, this is just another recall of just another manufacturer's product. It's hardly an earth-shattering event.

Readers of this space know that the railroad sector is one of the preferred sectors. After decades of unconscionable neglect, U.S. railroads are experiencing a resurgence, propelled by international trade and the rail's cost advantage over truck transport. But as one knows, trains don't always roll, sometimes they have to brake to stop, and that's where Westinghouse Air Brake Technology makes its money.

Westinghouse Air Brake Technologies (NYSE: WAB), known as Wabtec, manufactures braking equipment and other parts for locomotives, freight cars, and passenger rail cars.

Products of Wabtec's freight group include air brake systems, draft gears, hand brakes, slack adjusters, heat exchanges, railroad electronics, and monitoring and control equipment. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance.

Analysts expect strong, double-digit revenue growth on solid back-orders and new business. Analysts also like Wabtec's blue-chip clientele, decent pricing power, demonstrated ability to deliver products and services on time, and reasonable cost structure. The Reuters F2008/F2009 EPS consensus estimates for WAB are $2.53/$2.81.