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BUSINESS
November 18, 2005 | From Associated Press
Union Pacific Corp. said the man who had led the company's railroad for nearly two years would succeed Dick Davidson as corporate president and chief executive in January. James R. Young, 53, will remain president of Union Pacific Railroad when he assumes control of the corporation. Davidson will remain board chairman.
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CALIFORNIA | LOCAL
November 12, 2007 | Tracy Weber, Times Staff Writer
A Union Pacific freight train engineer and conductor were killed Saturday when their train crashed into the rear of another near the Salton Sea, derailing nearly a dozen locomotives and rail cars, a Union Pacific spokesman said. Both trains were on an eastbound track near Mecca shortly before 1 p.m. when one crashed into the other. One train was carrying 60 cars of rock material from Victorville to Arizona.
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BUSINESS
January 16, 1995 | Times Staff and Wire Reports
Union Pacific Faces Decision: The escalating takeover battle for Santa Fe Pacific Corp., the big western-U.S. railroad, could take another twist this week. One of its suitors, Union Pacific Corp., has a tender offer that expires Thursday, and there's pressure on the company to raise its $3.2-billion bid in order to match or exceed a $3.8-billion offer by Burlington Northern Inc. For now, Union Pacific will say only that it is "exploring all options." Both companies are pursuing Schaumburg, Ill.
BUSINESS
March 31, 2007
Union Pacific said it would invest $300 million to double the capacity of its Los Angeles container transfer facility to better handle the growing traffic from nearby ports.
BUSINESS
November 15, 1994 | From Times Staff and Wire Reports
Santa Fe Delays Burlington Northern Vote: Santa Fe Pacific Corp., saying it needs more time to study a hostile $3.3-billion takeover bid from Union Pacific Corp., postponed for two weeks a stockholders vote on a competing offer from Burlington Northern Inc. The meeting, originally scheduled for Friday, is now set for Dec. 2, but it remains open to holders of record Oct. 19.
BUSINESS
May 6, 1998 | Bloomberg News
The Union Pacific Corp. freight logjam that has hurt the railroad's profit, driven away customers and brought on government oversight is abating, but not fast enough to keep the railroad's second-quarter earnings from declining, Chairman Richard Davidson said. "We clearly will be down from last year," when the company had a second-quarter profit of $243 million, or 98 cents a share, Davidson said. The 36,000-mile railroad, the largest in the U.S.
BUSINESS
March 22, 1996 | Times Staff and Wire Reports
Shippers Groups Assail Proposed Rail Merger: Union Pacific Corp.'s proposed $5.4-billion acquisition of Southern Pacific Corp. is drawing opposition from shippers' groups that say it will hurt competition. The combined railroad would have 31,000 miles of track in 25 states, Canada and Mexico. Opponents must file comments with the Surface Transportation Board by March 29. The STB, the successor to the Interstate Commerce Commission, is expected to rule on the proposal by July.
BUSINESS
January 20, 2006 | From Associated Press
UnitedHealth Group Inc., provider of medical insurance for about one in 10 Americans, said fourth-quarter earnings increased 18% as it enrolled more customers and bought rivals. Net income rose to $870 million, or 65 cents a share, from $739 million, or 54 cents, a year earlier, the Minnetonka, Minn., company said. Revenue rose 15% to $12 billion. UnitedHealth added 3.6 million customers last year, helped by the $9-billion purchase of Cypress-based PacifiCare Health Systems Inc. in December.
BUSINESS
November 18, 2005 | From Associated Press
Union Pacific Corp. said the man who had led the company's railroad for nearly two years would succeed Dick Davidson as corporate president and chief executive in January. James R. Young, 53, will remain president of Union Pacific Railroad when he assumes control of the corporation. Davidson will remain board chairman.
BUSINESS
September 8, 2005 | From Bloomberg News
Union Pacific Corp. illegally retaliated against a worker who lodged a discrimination complaint against the company, the U.S. Equal Employment Opportunity Commission said in a lawsuit. The suit, filed in U.S. District Court in Oakland, says Omaha-based Union Pacific disqualified the employee after she won a favorable EEOC ruling in 2002 on claims of gender, age and disability discrimination. Robert Turner, a spokesman for Union Pacific, couldn't be reached for immediate comment.
BUSINESS
July 26, 2005 | Molly Selvin, Times Staff Writer
In a sharply critical ruling, a Nebraska federal district judge said Union Pacific Corp. illegally discriminated against female employees by barring prescription contraceptive coverage from its health plans -- even as it underwrote the cost of Viagra and drugs for male-pattern baldness. The judge's decision, issued Friday, is the latest victory for women's rights advocates in a series of battles fought in state legislatures and courtrooms over the issue of contraceptive access. U.S.
BUSINESS
July 22, 2005 | From Bloomberg News
Union Pacific Corp. said Thursday that second-quarter net income rose 47%, the first quarterly increase since 2003, because of record price increases. Net income increased to $233 million, or 88 cents a share, from $158 million, or 60 cents, a year earlier, the company said. That topped the average estimate of 77 cents among analysts surveyed by Thomson First Call. Sales grew 10% to $3.
BUSINESS
April 22, 2005 | From Bloomberg News
Union Pacific Corp. said Thursday that profit fell 22%, its fifth consecutive quarterly decline, as higher fuel prices and damage from West Coast storms pushed up costs. First-quarter net income dropped to $128 million, or 48 cents a share, from $165 million, or 63 cents, a year earlier, the Omaha-based company said. Sales rose 9% to $3.15 billion, helped by rate increases. Union Pacific's costs increased 10% to $2.84 billion, including $539 million for fuel.
BUSINESS
March 31, 2005 | From Bloomberg News
Union Pacific Corp., the biggest U.S. railroad, said Wednesday that it would spend $1.6 billion this year on track improvements to help speed its trains. The plans include $1.3 billion for projects such as replacing 1,055 miles of rail on its 33,000-mile system, the Omaha-based company said. UP also said it would spend $295 million to increase capacity on its Los Angeles-New Orleans route and in the North Platte, Neb., area.
BUSINESS
January 25, 2005 | James F. Peltz, Times Staff Writer
Union Pacific Corp. said Monday that its fourth-quarter profit plunged 86% from a year earlier, as the big railroad was beset by congestion and ugly weather. Storms and heavy rainfall in the West caused even more havoc in the current quarter. The costs of mudslides and flooding in California and Nevada earlier this month may add up to about $200 million in repair bills and lost revenue, though insurance should cover part of the loss, Union Pacific said.
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