By Bill Stephens | February 26, 2023 for trains.com Soroban Capital touts former COO Jim Vena as replacement for CEO Lance Fritz A hedge fund, arguing that Union Pacific ranks dead last in every important operating metric, has asked the railroad’s board of directors to replace current CEO Lance Fritz with former Chief Operating Officer Jim Vena. […]
By JOSH FUNK The Associated Press Union Pacific announced plans Sunday to replace its CEO later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. The managing partner of Soroban Capital Partners, Eric Mandelblatt, said in a letter that the Omaha, […]
Annual event for rail contractors provides look at 2022 capital plans Article published by trains.com Union Pacific CEO Lance Fritz will be the featured guest speaker and all seven Class I railroads are scheduled to outline capital spending plans for the year at the 2022 National Railroad Construction and Maintenance Association Conference set for this […]
Written by Matt Parker for railwayage.com Editor’s Note: This opinion piece is in response to my invitation for “reasonable, fact-based, non-political opinions on Precision Scheduled Railroading by experienced railroaders from both the agreement and non-agreement sectors, to encourage discussion,” in response to “PSR Point/Counterpoint: Fortune,” published July 22 – William C. Vantuono An Oct. 3, 2018 article […]
Struggle to bring crews back draws scrutiny from regulators, who were already concerned about lean operations By Paul Ziobro for wsj.com America’s freight railroads are struggling to bring back workers, contributing to a slowdown in the movement of chemicals, fertilizer and other products that threatens to disrupt factory operations and hinder a rebound from the […]
Until autonomous technology is ready, CEO says railroad needs one-man crews to stay competitive By Bill Stephens for trains.com OMAHA, Neb. — How can railroads compete with autonomous or electric trucks that would dramatically reduce the cost of trucking? “Ultimately, our answer to autonomous trucks is autonomous trains,” Union Pacific CEO Lance Fritz says. A […]
By Josh Funk for apnews.com Union Pacific’s first-quarter profit declined 9% as the railroad delivered less freight and its revenue fell, but it said the economy is steadily improving. The Omaha, Nebraska, company said Thursday that it earned $1.34 billion, or $2 per share, in the quarter. That’s down from $1.47 billion, or $2.15 per […]
Written by David Nahass, Financial Editor for railwayage.com FINANCIAL EDGE, RAILWAY AGE APRIL 2021 ISSUE: The tone and context of Railway Age’s Next-Gen Freight Rail conference held virtually on March 10, 2021 changes rapidly when viewed through the blockbuster announcement of Canadian Pacific’s (CP) acquisition of Kansas City Southern (KCS). One can only wonder what messages Creel and […]
Written by Lance Fritz, Chairman, President and CEO, Union Pacific via railwayage.com On the Union Pacific website, Chairman, President and CEO Lance Fritz shared his thoughts on embracing diversity—an important story that Railway Age believes should be shared with a broader audience. Late last week there was a mass killing in Atlanta, where the perpetrator targeted people of […]
Rising fuel prices could eventually help with truck conversions By Joanna Marsh for freightwaves.com All of the publicly traded Class I railroads presented at investment bank JP Morgan’s industrial conference last week. Here are some themes expressed through the multiday event: Weather dents February’s rail volumes and could impact first-quarter results When the Class I […]