|
|
Article: Back on track: how an old-fashioned Kansan with railroading in his blood breathed new life into the UP.(Regional Report: Midwest)(Union Pacific)
- Article from:
- Chief Executive (U.S.)
- Article date:
- January 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By any account, Union Pacific's takeover of Southern Pacific in 1996 and 1997 was a train wreck. Rail cars bound for Houston from Chicago ended up in Los Angeles, thanks to incompatible software and a shortage of locomotives. Coal didn't reach electric utilities. Plastics molders didn't get their pellets. All in all, the botched merger cost Union Pacific's customers $2 billion. In turn, investors punished the venerable, Omaha-based company, forcing down its stock price from $73 in 1996 to $37 in 2000, wiping out about $9 billion in market capitalization.
[ILLUSTRATION OMITTED]
Yet this is a company planted firmly in prairie sod, where an exec's word is ...
Related newspaper, magazine, and journal articles:
|
|
Article: Union Pacific Railroad Pays Interest on ...
PR Newswire;
March 19, 2002 ;
700+ words
... ... issued by the Missouri Pacific Railroad ... MPRR). Union Pacific Railroad ... 2002, Union Pacific Railroad ... for the Missouri Pacific Railroad ... 2002, Union Pacific Railroad ... respect of the Missouri Pacific Railroad ...
|
|