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Railroad Industry Finances

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NEWS
August 8, 1991 | From a Times Staff Writer
In unusually florid language, a suit filed Wednesday on behalf of anglers accused Southern Pacific Transportation Co. of being responsible for California's first "junk bond toxic spill." The suit, filed in Redding, charged the railroad with negligence in the July 14 derailment that spilled poisonous metam-sodium, alleging that Southern Pacific failed to maintain its train and tracks because it needed to cut expenses to meet heavy interest payments on its corporate debt.
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BUSINESS
December 28, 2000 | Bloomberg News
Union Pacific Corp., owner of the largest U.S. railroad, said it will cut 2,000 management and union jobs, or 4% of its work force, and it anticipates fourth-quarter profit will fall short of analyst forecasts. The company expects to take a charge of $70 million in the fourth quarter as a result of the cuts, which will be made by firings, attrition and early retirements. Citing rising fuel prices, harsh winter weather and growing signs of an economic slowdown, the Omaha, Neb.
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BUSINESS
December 28, 2000 | Bloomberg News
Union Pacific Corp., owner of the largest U.S. railroad, said it will cut 2,000 management and union jobs, or 4% of its work force, and it anticipates fourth-quarter profit will fall short of analyst forecasts. The company expects to take a charge of $70 million in the fourth quarter as a result of the cuts, which will be made by firings, attrition and early retirements. Citing rising fuel prices, harsh winter weather and growing signs of an economic slowdown, the Omaha, Neb.
NEWS
August 8, 1991 | From a Times Staff Writer
In unusually florid language, a suit filed Wednesday on behalf of anglers accused Southern Pacific Transportation Co. of being responsible for California's first "junk bond toxic spill." The suit, filed in Redding, charged the railroad with negligence in the July 14 derailment that spilled poisonous metam-sodium, alleging that Southern Pacific failed to maintain its train and tracks because it needed to cut expenses to meet heavy interest payments on its corporate debt.
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