Union Pacific to repurchase track, save lines
Article Abstract:
Union Pacific Corp., which is planning to repurchase 107 miles of track, also will give up plans to abandon several hundred miles of other track. The nation's largest railroad will restructure its management strategy to address various operational problems, such as freight backups and delays. Industry analysts, who believe the company is trying to regain its client's confidence, have said that Union Pacific miscalculated when it sold off some of its track. The company also announced that it will shift back to a centralization of its system.
Comment:
Will restructure its management strategy to address various operational problems, such as freight backups and delays
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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U.S. approves plan to divide Conrail in two
Article Abstract:
Twenty-two years ago six failing rail carriers were pulled together by the U.S. government and Conrail was created. Now the government has approved its division between CSX Corp. and Norfolk Southern Corp. in a $10 billion transaction. The approval was granted based on concessions by both CSX and Norfolk Southern. 2,700 employees will lose their jobs and another 2,300 will have to relocate.
Comment:
Conrail will be broken up between CSX and Norfolk Southern in a $10 billion deal
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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