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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: 17 September 2021

The Fat Old Lady

The Fat Old Lady

(p.30) 2 The Fat Old Lady
Union Pacific

Maury Klein

Oxford University Press

This chapter focuses on the Union Pacific Railroad's proud heritage and strong bottomline in 1969. During the years after World War II, both Wall Street and the railroad industry regarded Union Pacific as a sleeping giant, rich in assets but slow to maximize its use of them. Some called it a gold-plated railroad; others likened it to the fat old lady with a bag of candy that might one day be snatched from her. During the postwar years the fat old lady got fatter, as shown by the high dividends per share. The railroad was doing very well. Compared to its own potential, however, Union Pacific had barely scratched the surface of possibilities. One reason was that Union Pacific was considered a first-class railroad without a first-class management.

Keywords:   railroad industry, Union Pacific Railroad, Wall Street, assets, dividends, management

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