https://www.forbes.com/sites/erikkobayashisolomon/2017/04/12/if-you-are-a-union-pacific-shareholder-you-should-read-this/amp/
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Might have been written a while ago, but it helps explain why the company is now where it is. Still as relevant now as it was when it was written.
This article was written over a year and a half ago...
"stock buyback programs often serve to hide cushy executive compensation packages. The company is issuing execs stock as compensation, then using profits that would have otherwise flowed through to owners to buy that stock back. We estimate that in 2014-2015 alone, the company spent $450 million buying back stock it had issued to its executives. While $450 million might not seem like a lot to rich guys like us, it does add up eventually."
See how Lance and the EVP thief gang are destroying the great UP that Mr. Young once led......