UP Announces Settlement to Class Action Suit

OMAHA, Neb. – A settlement has been reached in a class action suit filed against Union Pacific following a May 27, 2000, derailment near Eunice, La., the railroad announced Tuesday (May 25, 2004). Union Pacific, subject to court approval, has agreed to a payment of $65 million in exchange for a release of all claims for damages involved in this litigation. At the time of the settlement, over 10,000 formal claims had been filed. The railroad’s insurers will reimburse Union Pacific for this payment. The settlement will not impact the Company’s earnings, the company said in a news release. According

Union Pacific Responds to Unsolicited Mini-Tender Offer

OMAHA, Neb. – Union Pacific Corporation said May 11, 2004, it had been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC) of Toronto, Canada, to purchase up to 2 million shares, or less than 1 percent, of the outstanding common stock of Union Pacific at a price of $56.80 per share.   Union Pacific does not in any way recommend or endorse this offer, and Union Pacific is not affiliated in any way with TRC, the offer, or the offer documentation.   Union Pacific notes that this offer price is 2.8 percent below the $58.45 per share

CPA: UP Should Disclose Political Contributions

April 12, 2004 Railfanning.org News Wire 0

WASHINGTON – As part of a campaign to bring transparency and accountability to corporate political contributions, the Center for Political Accountability (CPA) is urging Union Pacific Corporation shareholders to support a resolution that asks the company to disclose and explain the business purpose of its political donations. Union Pacific, the nation’s largest railroad company, currently does not make public its political contributions or tell shareholders how it decides on donations made with corporate assets. The disclosure resolution will be voted on at its annual meeting on April 16 in Salt Lake City, Utah. “Corporate political giving runs the risk of

UP Opens $181 Million Chicago Region Intermodal Facility

August 28, 2003 Railfanning.org News Wire 0

ROCHELLE, Ill. – Union Pacific on Aug. 27 officially opened a new $181 million intermodal facility here, which officials say will attract companies to the area. “The level of interest from companies looking to relocate to the area continues to be quite high,” Neil Palmer, a suburban Milwaukee-based consultant who worked with Union Pacific on the Rochelle hub, told the Rockford Register Star. “It gives you reason to believe that the facility will continue to attract new business as well as keep business in the region.” Intermodal shipping involves moving freight by more than one mode of transportation without re-packing

Challenger Goes for a Ride

August 19, 2003 Railfanning.org News Wire 0

OMAHA, Neb. – For the first time in its 60-year history, Union Pacific Railroad’s “Challenger” No. 3985, the world’s largest operating steam locomotive, made a passenger run between Cheyenne, Wyo., and Joyce, Neb. July 12. The one-day public steam excursion celebrated railroad heritage on a Union Pacific line that has not seen an operating steam locomotive or passenger train in over 50 years. The Challenger pulled a 16-car passenger train. Union Pacific’s No. 3985, an articulated locomotive with a “hinged” frame to allow it to negotiate curves, is 122 feet long. It weighs more than one million pounds, has six-foot-diameter

UP Offers Quick Web Pricing Solutions For Expanding “MexDirect” Service

March 31, 2003 Railfanning.org News Wire 0

OMAHA, Neb. – Union Pacific has announced that customers can now access rail through-rates and easy-to-use instructions on the UP Web site for their MexDirect product, offered in conjunction with the Transportacion Ferroviaria Mexicana and other participating rail connections. MexDirect, first introduced last year, is the industry’s first “one-stop” rail product for shipments moving between major markets in the U.S., Canada and Mexico. Union Pacific and Transportacion Ferroviaria Mexicana (TFM ) also announced the expansion of this innovative product, first introduced to cover iron and steel sheet or coil, to include other steel products, lumber, and various panel products. “We

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