August 28, 1997 |
Reacting to three freight train crashes that killed seven people in less than two months, federal regulatory officials this week announced an unprecedented, round-the-clock inspection of Union Pacific Railroad. Federal Railroad Administrator Jolene M. Molitoris said a preliminary review of the crashes--two in Texas and one in Kansas--has found evidence of "critical safety deficiencies" at the nation's largest railroad.
July 4, 1996 |
In an era of speedy jet planes and endless superhighways, the chugging locomotive resembles an Industrial Age dinosaur lumbering across the landscape. But the nation's railroads are far from extinct, even after losing much of their business to truckers and other rivals. Trains still carry nearly 40% of the freight that moves between the nation's cities, and in Southern California they are a crucial link between the booming ports and markets to the east.
July 4, 1996 |
Union Pacific Corp.'s historic purchase of Southern Pacific Rail Corp. was approved by the U.S. government Wednesday, clearing the way for a $5.4-billion merger that will create the nation's largest railroad and the dominant rail shipper in California. The deal is the most dramatic example yet of the rail industry's effort to use mergers as the means of reestablishing itself as a leading provider of intercity goods, a role it surrendered decades ago to the trucking industry.
July 3, 1996 |
Backed by officials from California and 20 other states, one of the West's most storied railroad companies, Southern Pacific Rail, hopes federal regulators today will approve its $5.4-billion merger with its onetime archrival, Union Pacific Railroad. The proposed deal, the biggest in transportation history, would create a 37,000-mile rail behemoth linking 25 states, Mexico and Canada.
April 6, 1996 |
Conrail Inc. offered $1.5 billion for some rail lines owned by Southern Pacific Rail Corp. before joining opponents of Southern Pacific's plan to be acquired by Union Pacific Corp. Conrail said it bid for San Francisco-based Southern Pacific's eastern lines in September. The offer was rejected but remains on the table, Conrail said in a filing with the Surface Transportation Board last week. The offer was made to Bethlehem, Pa.-based Union Pacific, which has agreed to pay $3.
CALIFORNIA | LOCAL
December 30, 1994 |
The Southern Pacific, Union Pacific and Santa Fe railroads agreed Thursday to use the Alameda Corridor, a 20-mile railway that will run from the ports of Los Angeles and Long Beach to Downtown Los Angeles. The corridor, which is expected to cost about $1.8 billion to build, would separate train and automobile traffic, providing a high-speed rail link for freight. Now, freight carried by rail can take eight hours to move across the Los Angeles Basin because trains must go 5 to 10 m.p.
CALIFORNIA | LOCAL
August 6, 1994
Local officials predicted a significant economic boom to the region Friday as the long-awaited Alameda Corridor rail project took another step closer to reality. Los Angeles and Long Beach port officials concluded negotiations this week with Union Pacific Railroad, the last of three freight haulers participating in the $1.8-billion transit link from the harbor area to Downtown. "Today's agreement moves the corridor from a dream to a reality," Mayor Richard Riordan said.