The most obvious answer is Lance was in way over his head. That’s correct.
Why else though? Because he was already retired and had nothing to lose. No self respecting high level executive is going to leave another company and come to this toxic waste dump right now. This is where executives go to die.
Vena got bored riding horses in Scottsdale ax with 675k annual cn pension
What’s your point?
Why did the UP implement PSR after the CEO clearly stated in a video the UP would not be doing it? He also said in that townhall video that PSR benefits the shareholders more than anyone. It was the 4th quarter 2017 video aired in January of 2018. Check it out! If anyone gets on here and wants to keep defending upper management, then you REALLY need to watch it. Everything Fritz said the UP wouldn't be doing, is or has already happened.
At least this time they were smart enough to auction off tools and equipment for pennies on the dollar before they grew legs and walked to the pawn shop. On the bright side they don’t have to pay the tool room guy anymore.
Yea I’ll agree SP’s looked bad, but they would start, load, were oiled up and would pull some cars. Then the yellow ones rolled in. Signed, audited,micro- managed, all on paper or computer. They had pretty yellow paint on top of the sand , grime ,and oil. ABSOLUTELY NO ACCOUNTABILITY WHATSOEVER, useless junk.
Heard of power tools disappearing after one of the layoffs so many that they posted up letters stating that if any of the tools that were replaced disappeared they wouldn’t be replaced. You think the locomotives we have being held together with duct tape and zip ties are bad, you should have seen the locomotives they got when they bought SP they had $hit falling off them that was supposed to be bolted down when they took them in to be rebuilt.
Can anyone name a shop floor tool that they need and it isn’t available? Nobody has yet.
Yep short term money grab with negative long term implications.
Blah blah blah. Everybody knows PSR is a just a short term money grab.
Yep spot on you’re not on a shop floor, if you were you wouldn’t divert back to the original question and skim over the tools and parts comments anyone actually on the floor knows what’s needed and isn’t on hand.
Again, what don’t you have that you need to “fix” things other than what you heard time and time again? Actually, since you heard it time and time again, it’s embedded in your memory. What are they?
Some locations don’t have the tools they need to do the job at hand heard that time and time again in morning lineups/safety meetings and town hall meetings
@1qgf you must not be on the floor of a shop. @1tpw and @1pqb was talking about parts being on hand. Waiting for a part or parts to be ordered to show up on a truck that’s scheduled at certain times instead of physically on hand and accessible (most times they won’t go get the part unless it’s extremely necessary to make the locomotive release for the shift). Which creates the dreaded downtime they always b–ch about on calls and in lineups.
What don’t you have to fix and repair things?
And by “something like this” I mean laying off mass numbers of employees and the lean project (which didn’t help just made it harder to get/find parts to make repairs causing downtime) not PSR
Yes the railroad is extremely wasteful everyone knows that it goes without saying, but it is hard to waste anything if you don’t have anything to waste because you have gotten rid of everything including things that are needed to fix and repair things. You state PSR is sustainable I don’t hear anything about PSR continuing to be practiced at CP or CN hell CSX is pretty much going quiet on it as well. Those companies have moved on to things that are actually profitable like getting new customers and I’m not talking about getting waste management as a new customer that’s a drop in the bucket when you look at the customers they ran off. Telling someone on the front line of this that they are wrong is like telling someone with their leg blown off it’s still there. Vena himself stated PSR isn’t sustainable after a few years because eventually there is nothing left to cut and then you’re done with it. Then you’ve got to go back and spend the money to get things back to where they are needed but hey the shareholders got their money and bailed that is all that mattered on to that next Ponzi scheme. They did something like this in the 80’s and 00’s and it bit them in the a$$ it took a while for them to get back to proper functionality.
Did you ever consider you’re wrong and psr is sustainable? Did you ever comment at anytime in your past how much money the railroads wasted? Much less waste now and the railroads are going to be fine. Consider that.
Laughable to watch these 🤡 take up for Vena, Harrison, and others that have destroyed the long term stability of railroads and lost multitudes of customers that will never return.
CN stocks split after PSR and while Vena was there. The apology was after Vena left and a bumper grain crop that caused the railroads to get behind on moving the grain. Just sayin.
Vena was retired in Scottsdale as riding horses with 675k retirement annuity. Non compete clause two yrs after retirement it’s in their blood to want more $$. Per Uprr financials Fritz has all ready qualified for a 52k a month retirement annuity
If you go and look at CN’s stock it was declining and didn’t start becoming profitable until after Vena left the company to retire which means they reversed their decision to run PSR, and yes CN did apologize to customers for their $hitty service google CN apology tour and an article from March 7, 2018 and another from November14, 2019 should show up you might have to scroll down but they are there. Vena is strictly a hatchet man because Lance big off more than he could chew and tried to implement something he had no idea on how it was done. Lance went to wall street and told them what his business plan was and they told him no we expect this and you better do it and instead of sticking to what has worked for years he buckled and did what they said to do. His legacy will be that he took a company from being one of the most respected transportation companies that had decent relationships with their employees and customers and turned it into a toxic company that turned its back and $hit on customers and employees, was voted 3rd and then 1st the next years Forbes worst places to work list, and somehow managed to get the company a 1.9 out of 5 stars for places to work, 13% recommended to work for, and a 7% ceo approval rating from Glassdoor.
To extract cash
Why are you so protective of Vena? Very weird. Is there something you’d like to confess?
Also, Lance and company have plenty of blame. They wanted to be a hunter wannabe and they own everything that happens. And no the coronavirus isn’t responsible.
So then using that logic, Lance or the other CEO’s have no responsibility. Get a grip on yourself. You’re losing it.
He wants to be the king of PSR and associated with Harrison, then he owns everything that came with it. Specifically.
Vena has nothing to do with other railroads in Canada. Only CN. How did he crater the other railroads? Be specific.
Does anyone else chuckle when Vena make comments like “I don’t know how a railroad got so many locomotives”? Wasn’t Lance at the UP when they were purchase? Cold Connect seems like another poor decision and yet he racks up enormous bonuses. Let’s see what he gets this year.
Vena is the muscle. He isn’t any good old boy clubs and will fire anyone who doesn’t do what he wants. If lance was a true leader he could of done it but he is spineless.
They cratered the railroads in Canada. Had nonagreement hr types trained to be conductors and put on an extra boards. Lol
You’re getting your railroads mixed up. CN didn’t go on an apology tour. It didn’t almost k–l CN either. Better start lining up your facts.
Does it matter why the UP hired him anymore? Someone posted that he had extensive PSR experience. Okay so how well did that work out for them? Remember the apology tour the CN did? The PSR experience excuse doesn't work anymore. PSR nearly destroyed the CN long before it came to the UP. Hmmm, so why bring in someone to implement a plan that nearly ruined a company? GREED!!! End of story.
He got the call from Lance and replied "I'll get right back with you, just need to talk to the family." Next call was to his cronies at CN... "How'd you like to buy a big fat class 1 railroad CHEAP?"
Is that the StraightUPTruth?
This company is a joke. Nobody with anytime left in their career will leave an executive position at another company to go to UP.
He had extensive psr experience from his time with the CN. End of story.
The way this company conducts itself is why people don’t like capitalism. I myself believe in capitalism but I am starting to realize that when it goes unchecked like we are seeing with this company why there needs to be more government oversight. I am onE who is against more gov’t but when other businesses and employees are being hurt by this nonsense something needs to be addressed. Just one persons opinion.
Pure greed. They couldn't ship our jobs over to China, so they hired an expert at s—ing wealth from the middle class to line their own pockets. They were making plenty of money before this, but it's never enough. The railroads will be re-regulated by the time this is all over. I'm sure Hunter is looking up at all of us right now.
Well he’s not a citizen so if he is unethical or breaks laws they just deport him. I’ll bet nobody here thought of that.