I just can’t stop thinking why would anyone in their right mind take a perfectly good and profitable railroad company and turn it into what it has become today. Has greed blinded them to the point that they can’t make rational decisions and see that they have brought the company down without any need.
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The largest hedge fund invested in the up is black rock and they own 6.4%. Employees own 14% in there 401k with vanguard. Vanguard needs to represent us better
Wall street desk jockies run up now. Lance does not.
Old timers better be concerned. Railroads laying off young workers in droves could push rrb to the brink.
They don’t have to have a majority share, they just have to sway others to be likeminded
Wring the last dollar out of it then maybe sell off the railroad in pieces similar to what IC Industries did to the Illinois Central Gulf in the mid 1980’s?
as the below comment inferred, activist investors have taken control of the company. think of some famous ceos you know... Steve built apple from the ground up and Gates did likewise at Microsoft. common knowledge right? they both became big time billionaires. more money than the amateurs running UP will ever see. but they didn't run their companies into the ground to do it. whereas, the activist investors that have taken control over UP have no personal connection to the railroad or to its mission. the long term viability of the nation's railroad is of no concern to them. our politicians on both sides are weak as well as the unions. last week there was a job posted on up's job site advertising a director level position located in washington d.c. that basically entailed spreading propaganda to politicians so no regulation will affect the railroad's profits. Safety is only an afterthought and only so much as it could potentially affect profits.
Because greed. This is what happens when a hedge fund gets a majority share of any company.