Union Pacific Railroad is making progress on its plan to implement positive train control (PTC) and will meet all required deadlines for installing the safety technology on its network, the Class I announced yesterday.
"As allowed by federal law," UP will continue to implement, test and refine the technology during 2019 and 2020, company officials said in a press release.
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Today, Union Pacific Railroad announced its third-quarter diluted earnings per share reached $2.15, representing a 43 percent year-over-year increase and an all-time quarterly record.
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The Surface Transportation Board (STB) has asked Union Pacific Railroad senior management to hold weekly phone calls with the board's Rail Customer and Public Assistance Office as the Class I implements its new precision scheduled railroading plan.
STB Chairwoman Ann Begeman and Vice Chairwoman Deb Miller wrote yesterday to UP Chairman, President and Chief Executive Officer Lance Fritz after UP informed the board of the railroad's new operations plan. In seeking to maintain weekly communications with UP management, the board is trying to help prevent freight-rail service problems that arose when UP competitor CSX implemented precision scheduled railroading last year.
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Union Pacific Railroad next month will launch a new operating plan that will implement precision scheduled railroading principles.
UP's "Unified Plan 2020" will launch Oct. 1 and will be rolled out in phases across the Class I's network. Resulting benefits are expected to help UP achieve its 60 percent operating ratio goal by 2020, on the way to achieving a 55 percent operating ratio, company officials said in a press release.
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Union Pacific Railroad plans to procure 1,000 high-tech refrigerated boxcars — and up to 1,600 if needed — which would mark one of the largest equipment acquisitions in UP history.
Brad Thrasher, UP's vice president-agricultural products, revealed the Class I's plans during a transportation workshop at the Idaho Grower Shippers Association's convention late last month, according to a Sept. 6 report in The Produce News.
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Union Pacific Corp. announced yesterday that William DeLaney has been elected to the company's board.
DeLaney, 62, served as Sysco Corp. chief executive officer from March 2009 until he retired at the end of 2017.
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Vista Proppants and Logistics LLC has entered into a definitive agreement with JupiterMLP LLC for transloading crude oil from truck to rail at its facility in Pecos, Texas.
Vista and Jupiter plan to ship crude oil via Union Pacific Railroad through 2019 and potentially into 2020, depending on pipeline construction timelines and capacity availability, the companies announced earlier this week in a press release.
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Union Pacific Railroad announced yesterday it will continue to "implement, test and refine" positive train control (PTC) technology in 2019-20.
The announcement was part of UP's regular quarterly updates of its PTC implementation progress.
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Union Pacific Railroad yesterday announced executive management changes, including the retirement of Executive Vice President and Chief Operating Officer Cameron Scott.
UP officials announced the following executive appointments: Beth Whited to EVP and chief human resources officer; Tom Lischer to EVP, operations; Kenny Rocker to EVP, marketing and sales; David Giandinoto to VP, Harriman Dispatching Center and network operations; and Kari Kirchhoefer to VP, industrial.
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Union Pacific Railroad today reported second-quarter net income jumped 29 percent to $1.51 billion, or $1.98 per share, from $1.2 billion, or $1.45 per share, in the same quarter a year ago.
Operating income for the quarter rose 5 percent to $2.1 billion and operating revenue climbed 8 percent to $5.7 billion compared with second-quarter 2017, according to a UP press release.
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U.S. Rep. Will Hurd (R-Texas) late last week toured Union Pacific Railroad's Clarks Park Yard U.S. Customs and Border Protection Facility in Eagle Pass, Texas.
Organized by the National Railroad Construction and Maintenance Association (NRC), the tour "highlighted the importance of border security and international trade" for UP and the rail industry, NRC officials said in a press release.
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Union Pacific Railroad yesterday released its ninth annual sustainability report, which details the company's progress on social, economic and environmental initiatives during 2017.
UP applies the Global Reporting Initiative's reporting standards to report the company's social responsibility issues, including economic impact, operating safely, strengthening communities, engaging employees and preserving the environment.
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Union Pacific Railroad is partnering with two California air management districts to repower 10 low-horsepower diesel-electric locomotives into new Tier 4 switchers for its yard-switching locomotive fleet starting in fall.
The new switchers will reduce particulate matter and oxides of nitrogen emissions by more than 90 percent during operations when compared to older locomotives, UP officials said in a press release.
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