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.
August 8, 1998 |
Union Pacific Corp. is experiencing new railroad delays in Southern California, heightening fears among shippers that the railroad is still suffering the effects of the worst freight logjam in recent history. In a letter to customers, the nation's largest railroad acknowledged it was experiencing problems at the Los Angeles and Long Beach ports--the nation's two busiest ports--and on a major line from California to El Paso, Texas.
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.
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.