There are so many better jobs out there. Be a man and take the plunge. Walk away. You'll be glad you did.
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@3koh Wrong! Blackrock only owns about 4.5% of the company shares, and Vanguard owns about 9%. I'm not sure how you got to the point of thinking it's mostly owned by those two. Yes, they are major shareholders, but neither one of them are majority owners. There is a difference between the two. Soroban owns considerably less than those two, but some folks still believe they majority owners as well. Stock market share information is very easy to get. As far as the CSX thing, that's not going to happen. That would create a national monopoly for the UP, and the government doesn't like those very much. The UP was a bit of the focus for service issues during the last government hearings. The other RR's improved their service, while the UP continued to do poorly. Plus I'd like to know where the UP would get the money to acquire the CSX with their current debt level. The UP has high debt with a current falling stock price. There has to be stability in the UP operations, before it would ever be considered. The acquisition of a short line or another class 1 has been brought up before when Vena was here last time. Not one of those theories ever came true. Vena is not one for spending money. That idea alone kind blows that theory up. Vena wants to reduce headcount and close locations, only to buy another class 1? That seems quite counter-productive. You can be quite positive in your opinion of what's next for the UP, but without facts it's just another story.
Yes on CSX. You are looking at this as if UP is its own standalone company. UP is mostly owned by Blackrock and Vanguard. Vena is here for the hedge funds, not the UP. Soroban is responsible for removing Fritz and putting Vena in his place. Look at the major shareholders of the CSX and you will see some distinct similarities. None of the other points matter because its now a hedge fund operation instead of a reasonable way to run a railroad/business.
The Government will end up bailing out UP and the Company will be nothing but sh-t and a graffiti laden shithole.
Cash in and split before the checks bounce
I'm just waiting for the service issues to come back and the subsequent hearings afterwards. Once the hearings started, it was game over for Fritz. This didn't happen before Fritz brought on Vena the first time. There was no ammo given to Vena. HE MADE HIS OWN! Just before PSR, Fritz bragged about the record profits at the UP. UP started with PSR, and the UP hasn't seen records profits again. Any gains they did get were largely absorbed by derailment costs and litigation. That's public information that anyone can look up by the way. Remember that bridge the UP destroyed in Arizona? How much did that cost to rebuild? How much money has the UP really saved since PSR? How many derailment happened at the UP? How many of the derailments were large-scale derailments? I remember one derailment that forced an evacuation of a school that was in session. This is going to blow up in Venas face. My only hope is that the federal government gets him first, before he destroys what left of the UP.
At the end of the day it's all are faults. Cutting corners, trying to hustle for quits, doing favors. Let's be honest with ourselves. We have done this to ourselves we have given vena the ammo to execute his plan. And guess what we all will cry and boho. None of us will lay down and those who do will get all the sh-t. Su-ks truly it does but best thing to do is ride it out. Pray we get some sort of retirement when it's all over and let God lead us to the next endeavor. The rich man at the top!! It's would be easier to fit a camel thru the eye if a needle. Then for a rich man to enter heaven. I pray he changes his way in time for his time. But I know sadly he will not.
Lead the acquisition of the CSX? Are you kidding me?? The UP can't even manage what they have now. Vena wants to make cuts on all employee levels to slim down the company yet again. Business levels are dropping, and so is the headcount and stock price. THIS IS EXACTLY WHAT CAUSED THE PROBLEMS IN THE FIRST PLACE! Headcount went down and business came back fast. The UP turned their back to a monster with teeth, and that monster bit them hard right in the a-s. Plus I'd like to see the UP purchase the CSX with the huge debt that they already have. If the stock keeps falling and Vena keeps making cuts, then Vena will be removed from the company. Vena cannot keep making cuts at the UP. It only worked the first time because the UP never experienced it before. It won't work a second time because the UP employees are alert now. Those employees are ready to make sure his plan fails. Just wait, you'll see!
Vena is back to lead the acquisition of the CSX. Just wait, you'll see.
Some people are still there probably because they want to see him fail with his "This is how we win" strategy. If you know you might be losing your job, you might as well stay as long as you can for extra money. There's no need to make potential problems worse for yourself by quitting too early. The stock price has been going to sh1t, and management is doing everything possible to justify their jobs. Their self-righteous justifications is why North Platte got tagged by the FRA. Just be patient. Vena will sc--w this up just like last time, and then the government will come for him, or the board will fire him.
Why is Vena still at UP? Why was he invited back? Why didn’t he stay retired? He is the cause of a lot of the problems we’ve faced in the last 5 years, why didn’t he stay away? Is he not good at handling his own money that he had to come back to UP to steal more? I hope the board furloughs him like they did Fritz.
I "quiet quit" shortly after PSR started...
Because Iam stupid..
Because I'm getting a paycheck on the 10th and 25th every month and overtime when I accept it. I'll leave when they tell me to leave!
The thing that su-ks.. Every employee should receive severance based on months employed.. But the non-agreement are the only ones that get the benefit
Make them pay you to leave. Until then, quiet quit on them
Not here for UP anymore, got 20yrs in and having to plan when I leave how that’ll affect when and how much I can draw from railroad retirement.
Nice try Jimbo. You are gonna have to pay my severance and unemployment.