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OMAHA, Neb. — Union Pacific said that Lance M. Fritz has been elected vice president-labor relations, succeeding John Marchant, who has announced he is retiring at the end of June. Fritz is currently the regional vice president for the Southern Region. The company also announced that Gregory D. Workman has been elected to succeed Fritz as the vice president-southern region. Workman, currently the assistant vice president-operations for the southern region will be succeeded by the superintendent of the Houston service unit, Daniel J. Shudak. Brian McGavock will succeed Shudak as general superintendent of the Houston service unit. Fritz joined Union
NEW ULM, Minn. – By a 7-to-1 margin, Minnesotans favor Dakota, Minnesota & Eastern Railroad’s plan to upgrade its existing tracks in southern Minnesota, according to a new statewide survey of Minnesota voters about the railroad improvement plan. Asked why they favor it, supporters most often said that it would improve rail safety. The statewide survey found that 74 percent favor the DM&E plan, 10.4 percent oppose it and 15.7 percent did not know or refused to answer. Minnesotans voiced an equally strong conviction that the project would benefit farmers. The survey found that 71 percent believed the DM&E upgrade
CALGARY– Canadian Pacific Railway Limited said it has reached an agreement to acquire the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries (DM&E) for $1.48 billion. With this value-enhancing transaction, Canadian Pacific expands its current network by approximately 2,500 miles and increases its access to U.S. Midwest markets including agri-products, coal and ethanol. The deal consists of a $1.48 billion cash payment at closing and future contingent payments of up to approximately $1 billion. Future contingent payments of $350 million will become due if construction starts on the Powder River Basin expansion project prior to December 31, 2025. Further