Monday, July 02, 2012

UP marks "150 years of building America"

Written by  Luther S. Miller, Senior Consulting Editor

The Union Pacific Railroad on Sunday officially celebrated its 150th birthday. On Monday, UP President and CEO Jack Koraleski visited the New York Stock Exchange with 11 other UP employees to ring the closing bell.

Wall Street responded in the friendliest way possible: the price of UP shares opened Monday at a 12-month high of $119.92.

UP dates its "150 years of building America" from July 1, 1862, when President Abraham Lincoln signed the Pacific Railway Act to enable construction of the first transcontinental railroad.

"We believe President Lincoln would be as proud of today's Union Pacific as we are," said Koraleski. "We invest billions of dollars in our country's rail infrastructure so taxpayers don't have to, provide well-paying American jobs, and play a key role in the nearly 7,300 communities of which we are a part.

"Union Pacific delivers the goods American businesses and families use daily—everything from cars and clothes to sugar and lumber—and we help U.S. industries and companies compete in the global market by providing safe, reliable and environmentally responsible freight transportation," Koraleski said. "We expanded President Lincoln's vision from using the railroad to link the east and the west to using the railroad to connect the U.S. to the world. Nearly 40 percent of our business is international in either origin or destination and we are the only North American railroad with access to all six major Mexico rail gateways."