First quarter revenues were 5.86 Billion, beating the Wall Street analysts forecast. Net income was up 22 percent to 1.63 Billion. Stock price is 245.78. UP is not a great place to work, but they are doing great financially. They will not go back on PSR or change their downsizing methods with results like this. There are many posts on here stating UP is in trouble, etc. The reality is they are a money making machine that doesn’t value it’s workers, but apparently this isn’t affecting the profits.
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And they want to give us a cr---y raise and take back are retro pay....
GREED
Fritz will LIE through his teeth in the STB hearing coming up....
I bet you Fritz won't show up on the 26th and the 27th.
He will find some excuse and bs his way out of it.....
Obermann might offend Fritz and call him the Meldown CEO of UP.
Lance Fritz has stated the safety record of UP is abysmal and that the board has hired an outside company to come in help get a handle on reportable safety performance. Their recommendations may lead to individual layoffs or more jobs being abolished as a result of safety report.
Look at the safety record …then look at the culture and the leadership. Fritz/Vena capitalized on PSR as an excuse to terminate seasoned professionals now HR is excited about unexperienced new hires what’s your hired at three for the price of one when you figure The reduced benefits new hires receive. . That may save money but I don’t think it’s going to help make Union Pacific a safe place to work.
Almost every company has worker shortages now. There are help wanted signs everywhere you go. The STB meeting isn’t going to result in any action. Wishful thinking.
This information was posted on Yahoo Financial News, not on the UP site. No matter how much we dislike the company, they are doing great financially and are in no danger of going under or being bought out. The hearing with the STB will result in nothing. What can they do? Tell them to do better and maybe assess a fine? This is nothing new, there have been many meetings like this over the past 30 years. I remember when we really weren’t serving anyone for almost two years after the UP/SP merger and everyone was saying UP was in trouble and would go under as the stock price dropped under 30.00 per share. Nobody really cares about customers except to take their money. The same way the company doesn’t really care about its workers. We can hate UP forever but the truth is they make a lot of money for their investors and that’s all they care about.
I think you should do a little more reading instead of just going with what you heard from the UP. The execs from four class 1 railroads have a hearing on the 26th and 27th, where they have to start answering questions regarding service issues and worker shortages. This hearing will be brought to you by the Surface Transportation Board. This is what many people would say is a bad day for those executives.