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.
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.
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.
May 23, 1993 |
Harbor commissioners have voted to buy 725 acres of waterfront land from Union Pacific Corp. for $405 million, increasing the size of the Port of Long Beach by 35% to allow for expansion of cargo operations. The expansion is expected to create 1,000 jobs at the port and about $1.4 million a year in tax revenue for Long Beach, officials said. It will allow the port to expand without the expense of filling in part of the outer harbor as it has done in the past to create land for piers.
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.