They're going to have to spend money to fix the company and spending money is not popular....
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Whoever is in that job will be a multi millionaire milking the stock price and victimizing the labor force.
There is never enough for these people and they really hate workers.
Fritz is going to invest into cartels for shipping purposes. More Coke and more touch!
LF did exactly what a banker would do if he ran a railroad. Drove the stock price up and cut all the cost. Bankers have no interest in building anything, just make money.
Last I looked carloadings are climbing. 167 000 and going up. Not even peak season yeah doesn’t look like he’s going anywhere. Now with employee stock plan skys the limit
If UP is what capitalism looks like..... then capitalism sucks!!!!!!
Blaming everything on PSR takes away from the fact that the entire executive team needs to be replaced not just Fritz. Plenty of threads here about fake degrees and drinking buddies getting jobs they don’t qualify for. We have GM, AVP, VP, SVP. What do all these people do????? All good managers have quit or wants to leave and all these people with titles they still don’t get it. Clean house and start over.
Does it really matter at this point? LF could resign or get canned tomorrow, and it's doubtful that anything would change. If they elect someone that promises to correct the issues within the company, then would you believe them? If and when LF does leave the company, then the person who replaces him is really going to have a lot to deal with, and probably won't last long. Some people have already said that the company has already passed the point of no return. It just doesn't matter anymore. The push for the BS PSR has forever tarnished the image of railroading for future generations. Who's going to want to work for ANY company that only seems to want to lay people off. I saw an article by the STB and their desire for a study on PSR and it's effects within the industry. Again, it just doesn't matter anymore. That's like calling the fire department for a house fire that already burned down. Some people are still holding onto the hope that PSR will end and everything will go back to normal. The board of directors has to elect someone to be the CEO that will do what they want, not what the employees want. Does anyone really think the board will elect a CEO that actually gives two sh1ts about the employees? The current CEO is the reason everything is the way it is now. PSR was an option, not an obligation. The CEO has BS'ed the employees of the UP to give the board, investors, and the rest of the wall street crybabies exactly what they want.
And here we sit, still hauling freight. Good stock price, good carloadings, overtime abound. A few call backs here and there but layoffs other places. It's almost like capitalism at work.
Fritz isn’t going anywhere soon. The premise of this posting is wrong. The stockholders aren’t worried about the long term health of UP. They only want PSR to drive the stock price to artificially high levels so they can cash out and make huge profits. These investors are not into company building, they want profits quickly and by any means. Fritz is doing exactly as they wish, no matter the long term consequences.
The person who replaces the current chairman/CEO is likely to be as bad or worse.
There’s no indication that LF is going anywhere anytime soon. None of the usual indicators that a corporate officer is on shaky ground seem to apply to him, and he hasn’t signaled that he intends to resign. Unless there is a sustained drop in share price, or he publicly says/does something sexist or racist (both unlikely), I would expect for him to stay where he is for a long time.
I didn’t like the company or how it was run, so I quit. Anyone else can do the same.
Fritz sees the writing on the wall, He will leave soon and laugh all the way to the bank