June 18, 2004 |
Union Pacific Corp., owner of the largest U.S. railroad, intends to hire 5,000 train-crew workers, 800 more than its previous plan, to help end delays that forced the company to turn away shipments and reduced profit. "We are leaving business on the table that we could have moved if our service was better," said Chief Executive Richard Davidson, who announced the increased hiring at a transportation conference in New York.
January 19, 2005 |
Union Pacific Corp. said Tuesday that it planned to resume limited outbound rail service Monday on its last two lines from Southern California that had been closed because of the recent rains. But the railroad said it would continue indefinitely to block shipments from entering Southern California through normal routes in order "to control traffic in the region."
March 11, 1995 |
Union Pacific Corp. will acquire the rest of Chicago and North Western Transportation Co., the nation's eighth-largest railroad, for $35 a share, or about $1.2 billion, the companies said Friday. The widely anticipated deal values Chicago-based CNW at $1.6 billion. Union Pacific, the nation's largest railroad in terms of revenue, already owns 29.5% of CNW.
May 13, 1999 |
Union Pacific Corp. finally knows how to run a railroad again, and Wall Street is happily on board. Less than two years after the nation's biggest rail carrier suffered bottlenecks and other operating snags so massive that they nearly paralyzed the U.S. freight-transportation system, Union Pacific is again moving its trains faster, posting growing profit and enjoying a surging stock price.
May 30, 1998 |
Union Pacific Corp. shares fell 2.5% on Friday after the largest U.S. railroad surprised analysts by warning it will report a second-quarter loss as track congestion persists and shippers' claims mount. Also Friday, Union Pacific lost a regulatory battle when the Surface Transportation Board allowed Amtrak to significantly expand its delivery of express packages and time-sensitive freight shipments.
May 13, 1998 |
Despite issuing assurances earlier this year that freight traffic jams in Southern California and elsewhere were easing, Union Pacific Corp. is indicating it's made little progress in alleviating delays. In its weekly report to federal regulators, the railroad operator said personnel problems and track construction are still causing major delays in the Southland. "They are still running behind," said Jack Kyser, chief economist of the Los Angeles Economic Development Corp.
March 5, 1991 |
Birtcher, a big developer based here, said Monday that it is expanding its business in the Seattle area with the $16.5-million purchase of about 230 acres and several buildings from a Union Pacific Railroad subsidiary. Birtcher said it will construct about $200 million worth of factories and warehouses for sale and lease on the land, which is in the cities of Kent and Sumner, south of Seattle.
January 14, 2005 |
Union Pacific Corp. said Thursday that track damage from floods and washouts caused by punishing storms in California and Nevada might cut the number of trains serving Los Angeles by as many as a third for an "extended period." The nation's largest railroad, which resumed service on two routes east from Los Angeles on Wednesday, is making arrangements for rerouting a portion of the 90 trains a day that typically operate in the region, spokeswoman Kathryn Blackwell said.
October 7, 1994 |
Santa Fe Pacific Corp. late Thursday spurned a $3.2-billion takeover bid from rival Union Pacific Corp. and reaffirmed plans to merge with Burlington Northern Inc. in a $2.5-billion deal. The terse rejection announcement by Santa Fe's board says they believe the merger with Burlington Northern is better for shareholders despite the lower price and that that merger would be far more likely to receive federal approval.