Railroad News

Union Pacific Chief Financial Officer Rob Knight will retire on Dec. 31, the Class I announced yesterday. Jennifer Hamann will succeed him effective Jan. 1, 2020.

Knight joined UP in 1980 and held numerous leadership positions prior to being named CFO in 2004. During his tenure as CFO, he led many initiatives that helped the company earn the highest market capitalization of any North American transportation company, UP officials said in a press release.

By This email address is being protected from spambots. You need JavaScript enabled to view it., Associate Editor

Chicago commuter railroad Metra and Union Pacific Railroad have agreed to cancel a previously announced schedule change on the UP West line, which would have adjusted departure times of some trains on the line by Sept. 3. 

UP determined that the proposed changes on UP West could result in conflicts between commuter and freight trains along the busy rail corridor, Metra officials said in a press release.

Union Pacific Railroad yesterday announced that it has implemented positive train control (PTC) on 1,081 route miles in the second quarter, bringing its PTC-operated route miles to 14,678, or 86 percent. 

UP now is running PTC operations in 22 states, and is working with freight and passenger railroads to implement PTC on its remaining 2,384 route miles by 2020, UP officials said in a press release. 

Union Pacific Railroad reported today that 2019 second-quarter net income rose 4 percent to $1.6 billion, or $2.22 per diluted share, compared with $1.5 billion, or $1.98 per diluted share, in the same quarter a year ago.

UP's operating income rose 8 percent to $2.3 billion and the company's operating ratio (OR) improved to 59.6 percent from 63.0 percent compared with second-quarter 2018.

Union Pacific Railroad's latest annual report on sustainability includes for the first time cybersecurity efforts taken to protect the Class I's infrastructure and assets.

UP yesterday released its 2018 "Building America Report," the company's 10th annual sustainability report detailing progress toward its social, economic and environmental initiatives. The report highlights corporate strategy changes and impact on UP's customers, investors, employees and communities.

Oregon's two U.S. senators are raising concerns with Union Pacific Railroad's reported plan to eliminate nearly 200 jobs from the Class I's Hinkle Rail Yard in Hermiston.

In a letter sent this week to UP Chairman, President and Chief Executive Officer Lance Fritz, the senators wrote that the railroad's decision to reduce jobs at the yard and close the Hinkle supply warehouse and mechanical locomotive shop "will devastate this rural community by hamstringing the economic opportunities and stability of the entire region."

Union Pacific Railroad executives joined other public and private-sector officials in ceremonies last week marking the 150th anniversary of the driving of the Golden Spike in Promontory Summit, Utah, which signaled the completion of the transcontinental railroad.

On May 9, a ceremony held at Ogden Union Station in Ogden, Utah, featured UP's steam locomotives Living Legend No. 844 and Big Boy No. 4014. The two met, recreating the historic image taken at Promontory Summit on May 10, according to a UP press release.

Union Pacific Railroad is investing $20 million to build an additional block swap yard at its Santa Teresa intermodal terminal and refueling station in New Mexico.

The additional block swap yard will allow the Class I to add container blocks to passing trains faster and more efficiently, according to a press release issued by the New Mexico Economic Development Department.

After an end-to-end analysis of the intermodal network through the Unified Plan 2020 initiative, Union Pacific Railroad identified three key changes it plans to implement in the months ahead, Executive Vice President of Marketing and Sales Kenny Rocker wrote in a customer announcement issued yesterday.

The first calls for simplifying the Class I's intermodal complex in Chicago, where the railroad operates six intermodal facilities: five active ramps and an equipment depot.

Union Pacific Railroad is "pausing" construction of its new $550 million Brazos Yard in Robertson County, Texas.

The Class I will shift remaining funds planned for the Brazos construction in 2019 to siding extensions on UP's Sunset route — which runs between Los Angeles and El Paso, Texas — and a block-swap yard in Santa Teresa, New Mexico, a move that will add to UP's network flexibility, Chief Operating Officer Jim Vena told analysts during a first-quarter 2019 earnings conference call last week.

Union Pacific Corp. today announced a 6 percent increase in net income during the first-quarter, despite dealing with severe flooding and a 2 percent decline in business volumes.

The Class I posted Q1 2019 net income of $1.4 billion, or $1.93 per diluted share, compared with $1.3 billion, or $1.68 per diluted share, in the same period a year ago, according to a UP press release.

Union Pacific Railroad will host a celebration May 9 in Ogden, Utah, to mark the 150th anniversary of the transcontinental railroad's completion.

The ceremony will be held at Ogden Union Station, a day ahead of Utah's celebration at Promontory Summit where the "golden spike" was originally tapped into place, according to a UP press release.

By This email address is being protected from spambots. You need JavaScript enabled to view it., Managing Editor