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Union PacificThe Reconfiguration: America's Greatest Railroad from 1969 to the Present$
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Maury Klein

Print publication date: 2011

Print ISBN-13: 9780195369892

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:osobl/9780195369892.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 September 2021

The Lessons Relearned

The Lessons Relearned

Chapter:
(p.412) 31 The Lessons Relearned
Source:
Union Pacific
Author(s):

Maury Klein

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780195369892.003.0033

This chapter examines how Union Pacific Railroad and other railroads reconfigured themselves to become a strong and thriving industry. Deregulation drove the railroad industry to look for every way to purge inefficiencies from their operations. In 2003 Union Pacific seemed to be in splendid shape, paying off the $1.5 billion in convertible preferred securities issued to get through the service crisis. President and chief executive officer Dick Davidson reached a cherished goal when the company finally sold off the last of its subsidiaries. To cope with the stagnant economy, Davidson and Ike Evans embarked on cost-cutting. The board underwent significant changes in the new century.

Keywords:   railroads, Union Pacific Railroad, deregulation, railroad industry, service crisis, Dick Davidson, Ike Evans, cost-cutting

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