I thought I'd post this to help people stay informed as much as possible, in case they're not following along. Since your announcement of return to the UP, the stock price has fallen $25.17 since 7-26-23. This biggest overall drop actually happened since you showed up. The next biggest overall drop happened between your announcement on 7-26, and before you showed up on 8-14. The stock price is doing exactly the opposite of what it did when you were elected as COO on 1-7-19. You showed up then and the stock price started going up. During your tenure then, The UP stock hit a high of around $278, give or take a couple of dollars. Today's stock price closed today at $212.83. You can look yourself in the mirror all you want and keep telling yourself that PSR is working. The reality of it all is that it's not working, and the industry knows it.
You showed up, and people already knew what it meant. They already knew it because they've already been through it. I'd recommend that you take the time and research the hearings that the UP was involved in, and why they happened. The one I really want you watch is the one that was conducted by the STB with Fritz in attendance. I'm only bringing that up because the current job cuts you're doing is what triggered those. The lack of personnel led to service issues, quality of life issues, safety issues, incidents, and the UP achieving worst employer in North America for a few years in a row. The first round of cuts that occurred led to thousands losing their jobs, and many did not come back. That led to the STB drilling Fritz and the other executives at that hearing. Fritz tried to counter it by saying they were doing aggressive hiring, and implementing the 2nd chance iniative aimed at hiring non-violent felons. It was actually funny when even the felons weren't applying. Ok so the UP had a hiring problem because of their business model that was aimed at REDUCING headcount. If a company has a business model that is geared towards reducing headcount or "costs", then most if not all people aren't going to apply. The problems that the UP has right now is rather significant. Every problem at the UP was caused by YOUR business model when you showed up in 2019. The folks that are still at the UP from the first time are looking for other work now. The UP had a problem getting people to come back from the first PSR fire sale. The next time is going to be way way worse, because people won't be coming back for a third time. The service issues ARE going to increase very soon if you don't reverse course on this PSR. You don't grow a company by shrinking it, and you can't have a successful company if you don't have the employees to do the work. Those trains aren't going to move themselves! I guess you could step out of that office and do the work yourself. Your fast facts said you were a brakeman, conductor, engineer, and yardmaster. So the work being done today should be a walk in the park for you. Why don't you bring the rest of the C-suite executives to help, because they know how to do the work as well, right? In end Vena, the men and women of the UP can see through your BS. Those people know who you really are. The fast fact articles are a joke. It's kind of hard for anyone at the UP or the industry to have a good image of you, when your whole career was spent cutting jobs and ruining lives. I guess I shouldn't blame you entirely though. You worked along side Harrison. The legacy of that man is deeply shrouded in hate. Is that the legacy you really want? I only say that because your doing a fine job getting it. So to end this, you better rethink your business strategy for the UP. You're not as popular as you think. Those shareholders/investors will not come to your defense if you get into trouble. They're in it for the money your supposed to be making for them. So far, THAT HASN'T HAPPENED! Get it together, leave, or stick around to be fired! PSR was a one time model. This time it's going to drive the stock price down. The world knows what PSR is now.
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I see Beth whited has entered the chat with her platitudes, lol
Peace and Blessings to all of you . Take a breath and relax. A walk in the cool evening would help.
@1kzs
😉 have a safe, productive, and nice day.
@1zyw+1ou9fFf6
first you say the company took my job and I got laid off. Then you proceed to ask for my craft and location? So which one is it? Do I still hold a position within a craft at UP or did I get laid off?
No one works at a company to increase the company's costs. The argument here is that EVERYONE at UP should accept the cost of being the best and safest railroad possible. No one far removed from the actual work should just dictate from inaccurate data that X amount of people used to do X amount of work but now were gonna “right size” or “lean out” or “improve efficiency” by making less people do X amount of work. When stakeholders communicate the negative results of down sizing they shouldnt be negated w/ insults nor profane laced accusations.
What company works to increase costs? Cost and job cutting have been part of “industry” since the beginning. As others have said “if you don’t like it leave”. Or stand there and open your pockets like everyone else. Jimbo is going to do Jimbo things.
@zoj Threats of violence or threatening behavior will not be tolerated on this site. Be respectful of others on this site or your IP address will be recorded, and you will be removed.
enx+1ou9fFf6 poor little baby. My job was taken from me. You have to be the most pathetic person on earth. You sound like those id--ts that are homeless and say it's not thier fault they can't hold a job. Let me guess, you got furloughed and you now hate the company. You were nothing but a number to begin with. I have 18 years and I even know that I'm just a number. Come on and grow a pair of ba--s you trump wanna be.
enx+1ou9fFf6 I come here to see all the little t-t bags that need their mother still. I find it comical that someone took something from you. My little snowflake. Do you need someone to white your tears away to give you a hug. Maybe it would be better if you stood in front on a train and end your life. It amazes me that you can not be a man and accept that you could never be the CEO of a company. It's amazing that this company has robbed you of your manhood. You sound like a county music song. They took my job, my wife and dog. I'm mad because I'm not a man. What a little child. I've seen children that are less fortunate than you still have a better outlook on life. No matter what happens, I am in control of my life. To think that you allow a company to have this much control in your life is pathetic.
If you don't like the comments being posted here, then don't come here. Be a man or just leave, right? People have a right to post what they want here, and not a single one has to take orders from you. It's also hard to do your job, when that job was taken from you to please shareholders.
If you don't like working on the railroad, quit. No one is keeping you here. You surely will not be missed. Everyone that post negative comments, grow up and be a man. If you really hate the railroad that much just do Everyone else the favor and leave. Everything could be perfect and people like you will always find fault about this job. I was taught to find a job you love and you won't work a day in your life. I love what I do on the railroad and wouldn't trade it for anything. Good or bad in life, whatever happens. Be a man and either do your job or just quit. It's life. Tomorrow isn't even a guarantee.
I hope Vena destroys the company. The rest of the railroads will probably think very hard about implementing PSR, or hiring anyone associated with it. People can see PSR for what it really is.
The problem vena is running into that fritz didn’t is the interest rates, It cost too much to borrow money to do stock buy backs are artificially inflate the price. Under fritz the debt has ballooned from 15 billion to 30 billion
I'd be glad to run that company! A company has to take care of it's employees, or you have no company. The OP is correct on the stock prices. The stock prices have been going down since he showed up. I looked at the other class 1's. The others have seen decreases in share prices, but the UP saw the largest drop out of all of them. Vena's vision for the UP highlighted safety, reliable, and efficient service. I don't remember anything in his visions that mentioned mass layoffs. Vena can preach all he wants about his reliable and efficient service model, but the people aren't falling for it this time.
You are all a bunch of babies. Let's see you run this company.
Vena will resort to huge layoffs and shutting down multiple locations if the stock price doesn’t do what he wants. He was brought back for 1 reason, raise the stock price. He will do ANYTHING to make that happen. I think the “evaluation” in November is going to result in one of the biggest layoffs and shutdowns ever if the stock price is still where it’s at now. If you have less than 20 years seniority, November might be tough for you.