October 24, 2014

$400 million UP facility in N.M. close to completion

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Like a train engineer blessed with good weather and clear tracks, Union Pacific has arrived ahead of schedule. The railroad company’s $400 million intermodal facility in Santa Teresa broke ground in 2011, expecting to be operational in 2015. Instead the Omaha, Neb.-based company announced that it will have a grand opening ceremony on May 28, [...]

UP Chairman Jim Young dies

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James R. Young, who advanced to become Union Pacific Corp. (UNP) chairman, president and chief executive officer after starting with the railroad company in an entry-level finance position, died today. He was 61 years old. He died after a two-year battle with pancreatic cancer, the company said in a statement distributed by PR Newswire. Read [...]

UP names new railroad president, COO

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Union Pacific Corp. named Lance M. Fritz as president and chief operating officer of its Omaha-based railroad Thursday and said Jim Young has retired from his executive duties. Young took a leave of absence in March 2012 to undergo treatments for pancreatic cancer. Union Pacific said he retired Jan. 31 but will continue as non-executive [...]

UP appoints new vice president of labor relations

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OMAHA, Neb. – Union Pacific Jan. 8 announced that Joseph O’Connor and D. Lynn Kelley will assume new positions within the organization. O’Connor, currently vice president of purchasing, has been named vice president of labor relations. He will lead the organization responsible for negotiating labor agreements and managing the day-to-day relationship with the company’s represented employees. [...]

Rails accused of tampering with video in Amtrak crash

RENO, Nev. – Lawyers for a trucking company are accusing two railroad companies of tampering with evidence about a June 2011 collision between a tractor-trailer and an Amtrak train that killed six people in northern Nevada. Lawyers for John Davis Trucking Co. say they have evidence the companies tampered with a video of the crash [...]

$400M N.M. railroad project may open in 2014

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SANTA TERESA, N.M. — A $400 million Union Pacific railroad facility near a young New Mexico border town could open next year, according to the company. Union Pacific spokesman Aaron Hunt said Tuesday that construction near Santa Teresa is ahead of schedule and the facility could be operational in 2014. It had been slated to [...]

NTSB faults parade plans in fatal UP collision

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WASHINGTON – An oncoming freight train sounded its warning, and track guard gates started to descend. But the crowd was cheering, a marching band was playing, the lights of a police escort were flashing and a truck driver towing a parade float of wounded veterans and their wives in Midland advanced heedlessly into the crossing. [...]

Crew members hurt jumping from UP train

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The Union Pacific Railroad is investigating after two employees were injured while jumping from a moving locomotive. According to Mark Davis, UPRR director of corporate relations and media, the incident occurred at 2 p.m. Saturday near Kennard. The village is just west of Blair in Washington County.  Read the complete story at the North Platte [...]

Class I railroads release 3rd quarter earnings

CSX Corporation announced Oct. 15 that they had net earnings of $463 million or $.046 per share for the third quarter of 2013. Earnings for the same quarter last year were $455 million or $.44 per share. Earnings are up by $8 million over last year, but down $72 million from the second quarter of [...]

Union Pacific sets records, but stock falls

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OMAHA – Union Pacific says its third-quarter set revenue and per-share profit records as higher shipping rates helped the railroad offset flat volume overall and the traffic disruption from last month’s flooding in Colorado. The results released Thursday were about in line with Wall Street expectations and the reduced forecast Union Pacific issued this month. [...]