More jobs, locomotives on the way, Union Pacific says at investor day

[Omaha Steve]

Source: Omaha World Herald

By Russell Hubbard

Union Pacific Railroad has boosted hiring plans and aims to add 200 new locomotives next year to improve network congestion, the company said at an investor conference Wednesday in Chicago.

“We have been short of train crews,” acknowledged Chief Operating Officer Lance Fritz, speaking at the conference. “We have more than doubled the hiring we originally planned.”

The Omaha-based railroad said this month it intends to hire 3,600 train, engine and yard workers this year and buy 261 new locomotives, up from the 3,200 hires and 229 locomotives announced in July. Network congestion among the nation’s seven Class 1 freight railroads has slowed average train speeds and increased the time trains spend idle, angering grain shippers and coal-burning electric utilities.

Union Pacific, about tied with Texas-based BNSF Railway as the largest freight carrier with about $22 billion in annual operating revenue, last held an investor day about two years ago. Shares of the company, which has 46,000 employees overall and 8,000 in Nebraska, have almost doubled since early November 2012.

FULL story at link.



Read more: http://www.omaha.com/money/more-jobs-locomotives-on-the-way-union-pacific-says-at/article_1f1db217-72f2-56d2-9849-a4a062acf4b4.html

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[Spitfire of ATJ]

1. Union Pacific dates back to the days when Indians would fire arrows at their trains.

[TwilightGardener]

3. Yes, they just celebrated their 150th birthday in 2012.

[IronLionZion]

2. Good, we need more trains for long distance freight

trucks should be for shorter distance and local deliveries. Trains are much more efficient.

[murielm99]

4. I have mixed feeling about the UP.

My dad and my brother both went to work for the Chicago and Northwestern, and retired after many years as railroaders. Eventually, the Chicago and Northwestern became part of the UP.

Even when the UP was making money hand over fist, they were laying off needed workers. They couldn't do much to screw the union workers, but they tried. Lynne Cheney sat on their board. I don't know if she still does.