Union Pacific: Out Of Steam
This is no way to run a railroad. That's what the market told Union Pacific on June 2 as shares in North America's biggest railroad sank to 44 1/2, the lowest since 1994. UP, which botched its Southern Pacific merger, said its CFO was leaving. Earlier, UP said it will post a third consecutive quarterly loss. Says Michael Rosen, manager of Oppenheimer Convertible Securities Fund: "I don't think you could find an analyst who will give management a high ranking on performance or credibility."
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.