Tuesday, July 03, 2012

UP's Koraleski sees "slow, continual growth"

Written by  Luther S. Miller, Senior Consulting Editor

Union Pacific President and CEO Jack Koraleski said Monday that he sees nothing "right now" to indicate the economy is softening, and added: "We see a slow, continual growth pattern."

Koraleski made these remarks in a Reuters interview at the New York Stock Exchange, where he rang the closing bell in celebration of the railroad's 150th birthday.

He also said: "Coal looks like it has hit the bottom and is starting to come back up," and the upcoming peak season appears to be shaping up "a little better than last year. 

Reuters noted that UP shares are up 12% this year vs. a 9% increase in the S&P 500.