Railroad News

UP set income record, advanced Unified Plan in Q4

By Jeff Stagl, Managing Editor

Union Pacific Corp. today reported record fourth-quarter net income of $1.6 billion and diluted earnings per share of $2.12, up 29 percent and 39 percent, respectively, compared with adjusted results for fourth-quarter 2017.

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Union Pacific to participate in Bush funeral procession

Union Pacific Railroad will be part of this week's funeral procession for President George H.W. Bush, who died Nov. 30 at the age of 94.

Following funeral and memorial services in Washington, D.C., and Houston, Bush will be transported by the funeral train from Spring to College Station, Texas, on Thursday.

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UP's Bolin to succeed Rock as VP-external relations

Union Pacific Corp. has named Printz Bolin vice president-external relations, effective Dec. 1. He will succeed Mike Rock, who will retire Feb. 15, 2019, after 29 years of service at the Class I.

Currently assistant VP-external relations, Bolin will continue to work out of UP's office in Washington, D.C., when he starts his new role, UP officials said in a press release.

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UP's Knight dubbed 'Best CFO' for sixth-straight year

Rail News Home Union Pacific Railroad 11/27/2018 Rail News: Union Pacific Railroad
image Union Pacific Railroad Executive Vice President and Chief Financial Officer Rob Knight has made Institutional Investor magazine's "Best CFO" list for the sixth consecutive year.He is listed on the 2019 All-America Executive Team list of airfreight and surface transportation companies. Knight topped Institutional Investor's Best CFO list in the buy-side category of the combined airfreight and surface transportation sector.Knight began his UP career in 1980 and since has held various positions, including VP and general manager-energy, VP and general manager-automotive and senior VP of finance. He is a board member for Grupo Ferroviario Mexicano and TTX Co."Being recognized Best CFO by Institutional Investor for six years in a row is truly an honor recognizing our team's unrelenting focus on driving shareholder value," Knight said in a press release. "We are committed to rewarding shareholders through responsible capital management, dividends and share repurchases."The magazine has recognized people and firms in the financial services industry for more than 30 years. Best CFO rankings are determined by Institutional Investor's annual survey of the country's top analysts and portfolio managers. Other CFOs recognized on the latest list include Old Dominion Freight Line's Adam Satterfield and J.B. Hunt Transport Services' David Mee.

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Union Pacific updates PTC progress report

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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UP's Iowa infrastructure to get $47 million boost

Rail News Home Union Pacific Railroad 3/27/2018 Rail News: Union Pacific Railroad
imageUnion Pacific Railroad's 2018 capital expenditures program includes $47 million for track and bridge maintenance projects in Iowa.The work will include $39.7 million to maintain track and $5.9 million to maintain bridges in the state.Key projects will include $12 million for work on the Mississippi River Bridge in Clinton; $8.4 million to replace 72,000 ties between Grand Junction and Mallard; and $5.7 million to replace 42,000 ties between Nevada and Tama.Over the past five years, UP has spent $357.5 million on its network in Iowa, according to a UP press release.

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UP to serve Ocean Network at West Coast ports

Rail News Home Union Pacific Railroad 3/23/2018 Rail News: Union Pacific Railroad
imageOcean Network Express Pte. Ltd. (ONE) and Ocean Network Express North America have selected Union Pacific Railroad to handle intermodal shipments arriving on container ships at West Coast Ports effective April 1.ONE, which has a global fleet of more than 250 vessels, was established by a merger of Japan's three largest ocean carriers: MOL, NYK and K Line.Under the agreement, containers arriving or departing from West Coast ports will transfer between ONE vessels and UP trains at its on-dock and near-dock facilities in Los Angeles and Long Beach, California. UP also will carry ONE shipments arriving at ports in Seattle and Tacoma, Washington, UP officials said in a press release."Union Pacific is proud to continue our relationship with the carriers that make up ONE's joint venture and support its changing needs with transportation solutions offering efficient transit times and reliability," said Beth Whited, Union Pacific executive vice president and chief marketing officer. "We are well-positioned to leverage innovative customer tools and international intermodal resources to provide seamless service, flexibility and new market opportunities."With its headquarters in Singapore, ONE's liner network covers more than 100 countries. ONE's North American headquarters is in Richmond, Virginia.

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Port of Oakland OKs rail spur project

Rail News Home Union Pacific Railroad 10/3/2017 Rail News: Union Pacific Railroad
image Cool Port is a 280,000-square-foot distribution center now under construction on 25 acres of Port of Oakland propertyPhoto – Port of Oakland

Port of Oakland Commissioners last week approved an $11 million rail-spur project that would connect Union Pacific Railroad tracks with Cool Port.

Cool Port is a 280,000-square-foot distribution center now under construction on 25 acres of Port of Oakland property. BNSF Railway Co. also will have access. 

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UP announces capex plans for New Mexico

Rail News Home Union Pacific Railroad 6/14/2017 Rail News: Union Pacific Railroad
imageUnion Pacific Railroad's 2017 capital expenditures plan includes $23 million worth of infrastructure projects in New Mexico, the Class I announced Monday.Investments include $22 million to maintain track and $1 million in other improvements across the state, according to a UP press release.Projects include $14 million to replace 116,318 ties and install 55,470 tons of ballast on the line between Carrizozo and Fort Bliss; and $1.6 million to replace 10,615 ties and install 3,000 tons of ballast on the line across Lordsburg."Union Pacific's targeted investments fund projects that strengthen our railroad tracks, increase safety and minimize delays as trains travel through communities across New Mexico," said Brenda Mainwaring, vice president-public affairs.From 2012 to 2016, UP spent more than $105 million on infrastructure projects in New Mexico. The Class I plans to spend $3.1 billion across its network this year.

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UP slates $48 million for 2017 capex in Utah

5/17/2017    

Rail News: Union Pacific Railroad

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UP kicks off bridge work over Bayou Lafourche

Union Pacific Railroad this week began construction on a new bridge over Bayou Lafourche in Donaldsonville, La.

The new bridge is an important part of Louisiana's effort to reintroduce freshwater from the Mississippi River into Bayou Lafourche, UP and state officials said in a press release.

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UP promotes four to marketing, sales leadership posts

Union Pacific Railroad yesterday announced four appointments to leadership roles in marketing and sales.

The personnel changes, which take effect Sept. 1, involve John Kaiser, Jason Hess, Brad Thrasher and Kenny Rocker, according to a UP press release.

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UP notes lowest employee injury rate

Union Pacific Railroad achieved an employee reportable injury rate of 0.70 from January through June, marking the lowest rate in the railroad's 154-year history, the Class I announced yesterday.

Reportable employee injury rates are measured by employee injuries reported to the Federal Railroad Administration for every 200,000 employee-hours worked. UP became the safest U.S. Class I railroad based on its 2015 employee reportable injury rate of 0.87, UP officials said in a press release.

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UP's Q2 profit drops 19 percent on lower volumes

Union Pacific Corp. reported today its second-quarter 2016 profit fell to $979 million, or $1.17 per diluted share, compared with $1.2 billion, or $1.38 per diluted share, in second-quarter 2015.

Operating revenue declined 12 percent to $4.8 billion, while operating income fell 15 percent to $1.7 billion compared with last year's Q2 performance, UP officials said in a press release.

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UP seeks input on communication center standards

Union Pacific Railroad is soliciting public comments on its Response Management Communications Center (RMCC) as part of a required assessment to maintain the center's accreditation.

The center centralizes UP's responses to critical incidents 24 hours a day, seven days a week. The center is accredited by the Commission on Accreditation for Law Enforcement Agencies (CALEA).

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Food Logistics recognizes UP's sustainable shipping practices

Union Pacific Railroad was recognized last week by Food Logistics as a "Top Green Provider" for delivering fresh food and beverages, the Class I announced last week.

UP is the first large North American railroad to receive the recognition. The publication's annual list recognizes companies whose products, services or leadership enhances sustainability within the food and beverage industry, UP officials said in a press release.

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UP unveils infrastructure projects for Minnesota, Montana and Wisconsin

Union Pacific Railroad last week announced plans to upgrade its infrastructure this year in Minnesota, Wisconsin and Montana.

Between 2011 to 2015, the Class I has invested more than $50 million in Minnesota, $46 million in Wisconsin and $5.8 million in Montana on infrastructure improvements, according to UP press releases.

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UP unveils infrastructure upgrade plans for New Mexico, Utah, Washington

Union Pacific Railroad recently announced multimillion-dollar infrastructure improvement plans for the states of New Mexico, Utah and Washington.

In New Mexico, UP plans to spend $11.5 million this year — $11 million to maintain track and $196,000 to maintain bridges. A key project: UP has set aside $4 million to replace 22,091 ties and install 7,791 tons of ballast on a line between Lordsburg, N.M., and the Grant-Luna county line.

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UP slates infrastructure upgrades in Nevada, Wyoming

Union Pacific Railroad has released its 2016 infrastructure improvement plans for two more states: Nevada and Wyoming.

The Class I plans to spend $28.5 million this year in Wyoming, including $25.9 million to improve track and $2.4 million to maintain bridges. Key allocations include $7.6 million to replace more than 13 miles of rail on a line between Cheyenne and Granite Canon, and $2.6 million to replace nearly four miles of rail on a line between Rawlins and Rock Springs.

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Rail fastener may have caused UP train derailment, report says

Union Pacific Railroad returned to using the tracks where a crude-oil train derailed late last week in Mosier, Ore., near the Columbia River Gorge.

A preliminary investigation indicates a fastener that connects the rail tie with the rail caused the derailment, according to a report in The Oregonian.

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