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In the beginning of the book, when Eddie Willars confronted Jim Taggart about the poor condition of the Rio Norte Line, they had the following exchange:

"Jim, what are you saying? Does it matter that no one blames us - when the road is falling apart?"
James Taggart smiled; it was a thin smile, amused and cold. "It's touching, Eddie," he said. "It's touching - your devotion to Taggart Transcontinental. If you don't look out, you'll turn into one of those real feudal serfs."
"That's what I am, Jim."

Why did Eddie say that?

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Eddie knew that he was not a power player of TT and never would be. He was a devoted hired hand, much like the feudal serfs of medieval Europe. He knew he didn't have Dagny's mind nor Jim's bloodline, and thus would never be part of the TT aristocracy. He was the average guy, the ordinary man -- but a good, loyal, and hard worker.

That is what makes him the feudal serf of TT.

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