Blackrock owned 44,362,800 shares of UP stock with voting rights back in Jan. 2018. They started their attack on the UP a year ago.https://www.streetinsider.com/SEC+Filings/Form+SC+13GA+UNION+PACIFIC+CORP+Filed+by%3A+BlackRock+Inc./13714866.html
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I am a trainman at UNP. You wouldnt believe the things that I have seen over the last 2 years. It's crazy and have not a clue where to begin. I will say this. We have had more derailments in my area in the last year, than i have seen in my 14 years on the property. It's disgusting and i cannot believe our government has allowed these savages to do this to companies. I've sold off close to 800 of my close to 1000 shares of UNP in fear for what's to come...hope to retire from train service but I am skeptical....crossing my fingers in Iowa!
Larry fink the nyc 👃💰
Some say railroads Should go back to being regulated by the government. I dislike government control of anything but I see why it maybe needed for railroads because of how they hold the costumers captive with bad service and high tates. Capitalism is what America was built on but these unethical business practices most companies participate in nowadays is going to backfire on them including their employees. In the future left leaning lawmakers policies will catch up with these greedy execs.
Bill Ackman and Larry Fink. These are two names every railroader should know.
They have destroyed the Illinois Central, Canadian Pacific, Canadian National, and CSX. They are currently calling the shots at UP.
What BlackRock owning 6.6% means is that they have a controlling share. BlackRock controls the Board. If BlackRock votes to replace Lance with Vena, then get it happens. If BlackRock votes to merge take the CSX, then they do it (with STB approval).
It means BlackRock owns enough shares to tell the CEO and board that UP will do what BlackRock wants. If they don’t, BlackRock will buy a few more shares, which gives them enough ownership of the company to fire Lance and the board members and put their own people in. They’re telling the board, “Do PSR and get OR down to X or you’re all fired.”
Lance and execs and board want to stay and continue making millions, so are doing what BlackRock thieves are demanding.
Can you explain what BlackRock owning 6.6% means to a commoner like me? Does this mean BlackRock has the ability to make decisions on the behalf of the rest of us? Explain to me like I am 5.
What happens to the UP stock in my 401K if they merge with CSX? Even though I’m a casualty of last year’s layoff, I am thinking to hold onto it for awhile. Hoping it will split again and then I will move some out of it around. Once you’re no longer am employee, you’re limited as to which funds you can transfer between.
Point being is that this is exactly how Blackrock and Pershing Square Capital bought the CSX and got Hunter Harrison in. That is what these two despicable hedge funds specialize in. So far, they have extracted over $50B from the railroads that they have ruined. Looks like UP is next on the chopping block. Don't be surprised if they attempt a merger with the CSX.
Who knows when they are done pillaging this company we may all be government employees.
Should make for a nice parting gift for the executives.
...and your point being?
Top 10 hedge funds holding Union Pacific...https://m.holdingschannel.com/hedge-funds/holding-union-pacific/