(By M.J. Clark for Wyoming Business Report)
Wyoming’s main rail line, Union Pacific, reported net income of $3.9 billion in 2012, which makes 2012 “Union Pacific’s most profitable year in our 150-year history,” Jack Koraleski, UP’s CEO said in a company release.
The company saw profits increase 7 percent despite a 2 percent drop in total shipping volume, with coal down 17 percent and agricultural shipping down 9 percent. The drop in volume was more than made up for by a rise in shipping rates and the increased traffic in chemicals (up 14 percent) and automotive products (up 9 percent) during the fourth quarter.
Read the full story here.
Related News
- Nebraska Reforms Standards for Rail Crew Transportation
- Show Your Pride, Win Shirts for Your Entire Local
- Local Pride T-Shirt Contest Rules
- Where Do You Get Your News? Help SMART-TD Meet You There
- Senate Strikes Down Spending Bill’s Harmful AI Provision
- Razor blade found on brake wheel
- Coming Soon: SMART-TD Voluntary Income & Life Protection (VILP) Program
- Senate Passes Tax Bill Without Including Railroaders
- SMART-TD Honors the Retirement of Brother Greg Hynes: A Visionary, a Fighter, and a Legend
- SMART-TD Calls on U.S. Senate to Support the Cantwell Amendment and Protect Rail Workers