Old vena and Eric Mandelblatt are going to get exactly what they’ve been waiting for. They are going to start hemorrhaging mechanical personnel. Leading us straight down the path to ruin. Don’t worry Vena, I’m sure that daddy Mandelblatt has room in his ha--m for you after they let you go. I would like a show of hands from all the shops that are being forced to work overtime, since last August or September, so they don’t have to hire more craft people. They must be making their move to contract our work out and break the “unions”
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Ok why was he forced out? If nothing happens to CEO's, then he wouldn't have been "forced" out. I don't care if he's doing well or not to be perfectly honest.
Ohhhhh NOOOOO Fritz was forced to retire. Ouch. Please. That dude cashed out and is chilling. Like he's struggling lol
If nothing happens to CEO's, then why was Fritz forced out?
@zv After looking into that scandal, the name Enron Pacific sounds rather appropriate right now.
So you’re saying that Union Pacific should change its name to Enron pacific?
There was this certain energy company that filed for bankruptcy in the early 2000's, the two CEO's of that company got convicted of accounting fraud and other things. One of those two CEO's was sentenced to 20+ years in prison, and the other died before being sentenced. What's interesting about that scandal is that the CEO's claimed the company was doing well while the stock price was dropping, and encouraging others to buy into the stock that was going to sh1t. If you look into that company, you'll see some very interesting similarities between that company's actions and the UP. People and the investors trusted those CEO's when they talked, but the CEO's weren't being very honest. If the investors for the UP knew exactly what was going on and how the company was being run, I'm confident they'd be selling some shares. Do you trust Vena, because I sure don't. I hate to say this but CEO's are not untouchable as some like to believe. Vena can play his games all he wants. He can eliminate all the jobs he wants. He can't hide from the federal government when the service starts to suffer. If Vena sc--ws up, the feds will be allover him in record time. Sure, he can run off to Canada to avoid them, but he better not set foot on US soil again. Vena hasn't made good on his promises to the investors, and he getting desperate. He'll be the one answering questions when those start coming in. He doesn't have Fritz or anyone at the UP to protect him.
Please! Nothing ever happens to the CEOs of failed companies. They retire and ride off into the sunset. It's a dog and pony show for people that think the feds will do something.
@m8 Uh yeah the government will do something like hold hearings if the UP continues to sc--w up. Government hearings tends to look bad for the company and scares investors. The government is in fact watching the UP carefully right now. Vena will get fired long before the UP ever needs a bail out. You're severely underestimating what the federal government can and can't do. Don't assume the government can't do anything to the UP in order to protect the industry.
Word on the street a newly promoted senior manager from Proviso was forced to NLR found out the 11 on 3 off schedule . Quickly returned and quit and hired on with another company.
What are "Emoyees"?
Any of y'all think the Government will do anything to a company like UP your living in a dream. Yea they might talk and have conference but nothing comes of it. Funny part if UP fails the government would bail them out. Only thing that would come from it is a CEO change. I can guarantee you any other CEO will be the same. CEO equals Don't Care About The Emoyees.
April quit!!!!????? WTH!!! Just lost some really good help!!! Just SICK about this....and the situation we're all in!!
@cq How can anyone not know what's going on at the UP??? Vena is finding any outside contractors that he can right now that can physically and legally do the work. This is EXACTLY what Vena wants. He wants the payroll expense to it's absolute lowest amount, and somehow still allow the railroad to function. Soroban expressly insisted about reducing headcounts in a previous call and Vena agreed. These contractors can be paid way less for the same work being performed. The problem Vena has is the workforce reductions that were made public during his first visit and with no surprise F'ed that up when too many peoplegot let go! He can't do that now because that got a lot of attention from the government. The difference between then and now is that first time they didn't use as many contractors. This time he's using anyone he can find. That way when the questions start he can say that there's a sufficient workforce for the work available. What he doesn't have to say is whether or not those people work for the railroad. He can layoff as many people as he wants without having to say a word about it, then fill open spots with contractors for less expense to the company. Vena really thinks he's smart right now for doing it this way, but the unions and the federal government are watching him very closely. I could make this post much longer describing the many ways about this plans imminent failure, but I'm sure you can use your imagination with that. So what they're getting is less people, less expense, and more profits to the shareholders just like last time. I hope that answers your question about "What it is that they are getting".
@cq Don't you work for the railroad? Your question is leading me to believe that you don't or you're completely oblivious to everything that's happening at the UP. People in mechanical, signal, and pretty much every other department are in fact quitting because of Soroban and Vena. The UP is trying to get outside contractors in to either fill the voids left by the people that have already left or to replace entire locations with an outside company to do the work. It might work in some locations, but not many. Vena will do anything possible right now to limit payroll costs, eliminate positions, and force more work on people as much as possible. He's desperate right now to get that stock price to climb, but all it's really done is go up a little and come down further. I'm sure Soroban isn't too happy with Vena right now, but this is what Soroban wanted. They wanted Vena in charge of the UP because they believed he was the right person to supposedly turn the company around. Plus Vena reportedly promised to get the stock price to 300 a share. I guess they didn't plan on Vena aiming the company downhill and flooring it, because that's exactly what he's doing. You don't have to take my word for it though. If there's any doubts, then check out Velocity Rail Solutions and see what it is they do for business. That's just one outside company hired by the UP for mechanical needs.
@cq+1jrw0fhzk People are going to quit. I know at least 4 that have applied for different jobs
Overheard a rumor that they tried to force one of the hot box detector guru’s in omaha over from signal to mechanical,,, and instead she just quit.
What is it that they are getting?
Hinkle does eight hours a week.