This has been going around for awhile now, but they are actively considering it. This also allows UP to easily leave a lot of people high and dry. . . no need to layoff. they can just quit.
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I think it's a rumor created in order to get NE to extend tax breaks that are soon to expire.
Absolutely THIS. An age-old trick which has worked in the past. UP will stay in Omaha for as long as the tax breaks continue, and post-COVID (assuming we ever get there) Omaha will do whatever it takes to keep them there. I used to work in St Louis and they played St Louis against Omaha to get the sweetheart tax deal to consolidate in 2004. UP will definitely stay where they are.
While I'm sure they'd prefer to be HQ'ed in TX, I think it's a rumor created in order to get NE to extend tax breaks that are soon to expire.
Physical infrastructure? Seriously? They have a 500 million dollar sand pit and keys to gates of Mexico.
UP HQ isn't moving to TX or anywhere else. UP is not an oil or tech company (they wish). They have considerable physical infrastructure in/around Omaha, including UPC, and they're heavily invested there. If the executives don't like Omaha they can just jet into Eppley from a location of their choosing. No need to relocate.
Do you have actual proof UP is scouting locations in Texas?
If the FRA or FTC had any guts, they'd put a stop to this right now. We shouldn't have two of the nation's few remaining freight railroads headquartered in the same state. In an earlier time when civics and common sense prevailed, this would have been obvious to everyone.
This has been an option for many years now. As for it being a reality. If it saves them taxes. . . yes, they will do it.