The Port of Stockton, Calif., said late Tuesday that, in a public-private partnership with Union Pacific Railroad and Metropolitan Stevedore Co., it has completed a project to add 5,828 feet of track to the East Port interchange Tracks.
Three Class I railroads—Union Pacific, Norfolk Southern and CSX—and Berkshire Hathaway, parent company of BNSF Railway, have been named by Fortune magazine as among the world’s “Most Admired Companies” in 2011. UP,
Union Pacific announced Friday that James R. Young , its chairman, president, and CEO, will take a medical leave of absence from his responsibilities as president and CEO while he is being treated for recently diagnosed pancreatic cancer. He will remain chairman of the board during his treatment.
When Abraham Lincoln signed the Pacific Railway Act of July 1, 1862, creating the original Union Pacific, his vision for the transcontinental railroad was to connect a nation from east to west. Lincoln did not live to see the completion of the transcontinental railroad, but his vision was fulfilled and, along the way, more than 7,000 cities and towns began as Union Pacific depots and water stops, according to UP Chairman and CEO Jim Young.
Bloomberg BusinessWeek magazine has listed Union Pacific No. 5 on its 2012 list of top 50 performing companies. The Bloomberg BusinessWeek 50 evaluates companies on one-year and five-year risk-adjusted returns, consensus analyst ratings, and projected earnings growth. Companies are ranked against other members of the S&P 500 stock index.
Union Pacific announced Thursday that it earned 2011 fourth-quarter net income of $964 million, or $1.99 per diluted share, compared with $775 million, or $1.56 per diluted share, in fourth-quarter 2011, a record. For the full year 2011, UP reported income of $3.3 billion or $6.72 per diluted share, another record. This compares with $2.8 billion or $5.53 per share in 2010. The Class I railroad also outlined its planned 2012 capital investment program of “around $3.6 billion.”
Union Pacific said Wednesday it is offering commemorative Union Pacific Railroad 150th anniversary merchandise for sale, as UP kicks off its year-long sesquicentennial celebration.
U.S. railroads are a vital link to our nation’s economic future. They serve nearly every agricultural, industrial, wholesale, retail, and resource-based sector of the economy. Our freight trains touch almost every part of American lives.
Railroad officers attending the JP Morgan Transportation conference in New York Wednesday expressed optimism that the slide in railroad traffic has been arrested, but in their presentations expressed deepening concern that re-regulation sentiment is growing in Congress and could slow railroad recovery.
The Surface Transportation Board announced March 10 that it has instituted a proceeding responding to a Union Pacific request that the board “determine the extent of the common carrier obligation to quote rates for new, lengthy movements of chlorine, a toxic inhalation hazard (TIH).”