August 1, 1998 |
A national shipping crisis arising from massive congestion on the Union Pacific railroad system has eased enough that the freight carrier no longer needs intense federal oversight, regulators said Friday. But Union Pacific itself said the problems--which included severe delays at Southern California's seaports and at Union Pacific's big switching yard in Colton--are by no means fixed, and that the job of restoring service to normal levels "is far from finished."
February 27, 1998 |
Union Pacific Corp., parent of the nation's largest railroad, warned Thursday of likely first-quarter losses because of nationwide rail service troubles and the need to spend hundreds of millions of dollars to upgrade its system. Analysts expressed surprise because the company said just last month that it was profitable. The nation's largest railroad said the outlook had changed in recent weeks because its strategy of running trains in a single direction on one track isn't working.
CALIFORNIA | LOCAL
April 10, 1985 |
Frank Barnett, former chairman and chief executive officer of Union Pacific Corp., has died at a Manhattan hospital after a heart attack, the company announced. Barnett, 72, a key figure in the reorganization in 1973 of six bankrupt Northeastern railroads into Conrail, died at St. Luke's Hospital Thursday, a spokeswoman said. Barnett joined Union Pacific in 1951 as a lawyer and became chief executive officer and chairman of the executive committee in 1967.
January 31, 1986
Former Transportation Secretary Drew Lewis has been elected chairman and chief executive of Union Pacific Railroad effective April 1, William S. Cook, chairman, president and chief executive of Union Pacific Corp., said Thursday. Lewis, who will be based at the railroad's headquarters in Omaha, also became a director of the New York-based Union Pacific Corp. holding company effective Thursday.