Here's the truth and not the fluff. Vena wants the merger in the hopes of driving up the stock price. It's a last ditch effort to cover his failure. He promised stock prices that he could never hope to reach. He's shown that he can't actually run a railroad and grow the business. Under his watch the UP sold track to shortlines that grew their business trendously, then these shortlines were purchased by rival class ones. He is literally growing the competition.
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@tp the word I got was only 30% is actually ok to use and only about 8% is good for leaders and that number goes down daily.
What we have here is a Vena Simp folks
Vena hasn't sc--wed up as much as the other executives? Seriously? If he didn't, then what was all of the hearings for? Vena was the one that was pulling the strings before the hearings started. Where was Vena when the hearings did start? He was in Arizona sitting on the FedEx board BSing them too! The only class 1 that actively ditched the PSR campaign was CSX. They even announced it publicly. Of course that was after Harrison went out on medical leave and divine intervention answered a few prayers shortly after. If he didn't sc--w things up more, then why was the UP singled out exclusively by the STB? Non-railroading investors don't give two sh1ts about railroading. They care about their profits, period! Did Vena cause the problems at the other railroads? Of course not because he wasn't at those. So why blame Vena for the problems in the entire industry? The answer to that is real simple. PSR was touted as the industry saving grace by H. Harrison. You know that guy that bounced around to 4 different railroads implementing PSR. Take a guess at who was right next to Harrison during his PSR wrath. VENA!!! PSR is a disease within the industry that people like Vena believes is a great idea. Vena was Harrisons right hand man. You can defend Vena all you want, but I just wouldn't do on this site. It really won't go well for you if you do so. The UP has been implementing rule changes in safety, attendance, and many others. OK, why? The quick answer to that would be to eliminate positions to drive down costs, and increase shareholder profits. Vena knows he can't just do mass layoffs like he did the first time. Remember, the government is watching him right now. So it's easier to implement or change rules with the efforts of removing people from service/company to drive down costs, without announcing layoffs. The layoffs is what got the UP a seat at the big table in front of congress regarding service issues. Everyone of those layoffs that occurred were initiated by Vena. The rule changes and all of the other BS that Vena has been doing has ABSOLUTELY NOTHING to do with achieving best in class safety. It has everything to do with driving down costs to please the shareholders. Vena and his insatiable desire to believe he's the best thing to happen to the industry, is why the UP is falling apart. PSR has forever tarnished the industry. The names Vena and Harrison will forever live in infamy because of the failed PSR initiatives. Venas first big mistake was PSR. His second biggest mistake was coming to the UP. His third biggest mistake was coming back to the UP to play CEO. So yeah, his mistakes are far greater than what you believe.
I think Vena is still here bcuz look at his competition from other class 1’s.
Jaime (makes trains go bo-m bo-m) Boychuk, Katie (dont ask me anything about trains) Farmer, Allan (has affairs with other executives) Shaw, etc. I know its very hard to believe, but Vena hasnt sc--wed up as much as those other big wigs. Not defending Vena at all, not saying he does anything right or good, but to business people who dont know anything about railroading, Vena looks and sounds like a sane, stable, normal person.
Cash out all you're stock and get away!
This place is going to crash and
meltdown!!
The company had a market cap of over 163 billion in Aprill 2022. I just saw the market cap valuation in the high 120's last week. It's currently sitting at 130 and some change. The company has definitely lost value in its stocks. The charts showed a 10.5% drop in value just in the last year. My question is how can someone like Vena make a company do so poorly, have a company lose so much value, somehow become the CEO of said company, somehow still manage to be in charge of the company that can't even run it's own network, and actively trying to buy another class 1 railroad with its own major problems? Someone please correct me if I'm wrong here, but I believe Ol' Fritz was let go for way less. Vena is probably the only person alive that I can think of that couldn't run a lemonade stand with instructions. Fritz was at least trying to correct the issues brought on by PSR and Vena, before he was let go. Vena is actively making matters worse by creating more problems, without solving the problems the company already has. The company losing market value really isn't a good sign.
I cashed out my stock, sc--w that, let it sink!!!!!!!!
If Vena has lost the company 30-40 billion just in stock I wonder what the total value of the company has he destroyed? Bcuz of him only 30% of loco’s are capable of being leaders. The rail is worn and practically destroyed. All the assets he has deferred upkeep on for years now means the entire network has lost value. The company is a run down former shell of what it used to be.
The fact the merger will create a vacuum in employment loses is a given, he will gut the shops and the bigger shops are not guaranteed to stay, location location location.
Also the agreements don't synchronize on some crafts which will create a lose, dispatchers will be moved , office buildings will empty, and small mom and pop siding will be abandoned, bringing the siding extension plan and PTC only trains that will bring about the one train one man dream that ole leprechaun dreams about.
Give me my gold
Everyone should sell their junk stocks at the same time, make it sink some more
I'm waiting for Vena to say how much value he's added to the company! His math degree doesn't mean jacksh!t.
2 +2= 4
The Math : 1 + 1 = 1. Just bigger.
Good hope it keeps sinking.
Just wait for him to say again about his degree in mathematics. For someone that supposedly has a degree in mathematics, he has shown that he really has no clue and can't add or subtract for sh1t! Ever since the merger talk came onto the scene, the stock price has gone DOWN! There's already an article that I think posted yesterday about the UP and how bad the stocks have gotten. The company has lost more than 30 billion in valuation during the Vena tenure, and more than 40 billion since the days of PSR. I'm no mathematician but losing money, customers, and people is NOT how you add to the business!