Union Pacific Corporation

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Union Pacific Corporation

logo
legal form Corporation
ISIN US9078181081
founding January 30, 1969
Seat Omaha , United StatesUnited StatesUnited States 
management Lance M. Fritz , CEO
Number of employees 42,919
sales 19,941,000,000 USD
Branch transport
Website www.up.com
As of December 31, 2016

Union Pacific Center in Omaha

The Union Pacific Corporation is an American company based in Omaha , Nebraska . The publicly traded company is part of the Dow Jones Composite Average and Dow Jones Transportation Average indices . It is the parent company of the Union Pacific Railroad and in 2016 owned a route network of 51,610 km in length.

In the Forbes Global 2000 of the world's largest companies, the Union Pacific Corporation ranks 175th (as of fiscal year 2017). The company had a market value of around US $ 110 billion in mid-2018.

history

In the 1960s, many railroad companies in the United States began to change their corporate structure. There were holding companies under whose umbrella the railway company was founded only a division in addition to other economic activities. This prevented the Interstate Commerce Commission from regulating the non-transport areas. This structure also offered the opportunity to better diversify the company. Another motive was the privatization of the American railway companies discussed at the end of the 1960s. With the changed ownership structure, attempts were made to prevent the company from breaking up.

That is why the Union Pacific Corporation (UPC) was founded on January 30, 1969. This became the parent company of the Union Pacific Railroad. The company was based on the management and finance department, which had been based in New York since 1898. The Union Pacific Corporation also functioned as a "bank" between the subsidiaries. These had to transfer corresponding liquid funds to the holding company and could fall back on them if necessary.

By June 1971, all subsidiaries of the Union Pacific Railroad that had no connection to the rail business were transferred to the Union Pacific Corporation.

These included the following companies and their subsidiaries:

In 1974 the Rocky Mountain Energy Company merged with the Union Pacific Mining Company. In 1987 the Rocky Mountain Energy Company and the Champlain Petroleum Company were bundled in the newly established Union Pacific Resources Group Inc. Union Pacific Land Resources Corporation became a subsidiary of Upland Industries Corporation. This itself was subordinated to the Union Pacific Resources subsidiary Union Pacific Realty Company.

In the Union Pacific Resources Group, the company bundled all business activities in the field of property, real estate, mining and energy supply. In 1995, 17% of the shares in Union Pacific Resources went public, and the following year the remaining 83% was offered to the shareholders of Union Pacific Corporation. The annual report as of December 31, 1996 included a total of 70 subsidiaries. Of these, eleven companies were directly subordinate to Union Pacific Resources. In April 2000, Anadarko Petroleum Corporation acquired the Union Pacific Resources Group.

In 1986 the Overnite Transportation Company was acquired. After the acquisition of Motor Cargo on November 30, 2001, the company was reorganized as Overnite Corporation with the subsidiary Overnite Trucking and Motor Cargo Industries. In 2005 the company was sold to United Parcel Service . On May 31, 1993 the logistics company Skyway Freight Systems was acquired and in 1998 sold to Genstar Capital.

The subsidiary United States Pollution Control, Inc. (USPCI), which was acquired in April 1988, was sold to Laidlaw International in 1995 with a loss of approximately $ 200 million .

Fenix ​​LLC existed from 2000 to 2001. The technology companies Nexterna (emerged from AMCI, independent since 2005), Timera (emerged from PS Technology), Transentric (emerged from UP Technologies, now still a UPC subsidiary) and Ekanet (together with Norfolk Southern) were bundled in this company. One of the aims was to provide broadband coverage in rural areas. The project was ended again after a short time. The railway-related technologies were retained and the remaining areas were sold.

Union Pacific Corporation has been a pure rail company since Overnite Transportation was sold in 2005.

subsidiary company

As of December 31, 2014, the two most important subsidiaries were:

Company headquarters

From 1969 to early 1970 the company was based in the Equitable Building in New York City . The company then moved into offices in the newly constructed 345 Park Avenue skyscraper . In 1988 the company's headquarters were relocated to Bethlehem, Pennsylvania . Office space in the Bethlehem Steel building was used there . Thus the seat was near the country seat of chairman Andrew Lewis. In 1997 the seat was moved to Dallas in the Comerica Bank Tower (1717 Main Street). Since the summer of 1999, the company's headquarters in Omaha have been in a building shared with the Union Pacific Railroad.

Corporate management

President of the Union Pacific Corporation

Period Surname annotation
January 30, 1969–1. August 1977 James Evans
August 1, 1977–1. October 1986 William S. Cook
October 1, 1986–1. January 1997 Andrew L. Lewis from October 1, 1987 also Chief Executive Officer and Chairman
January 1, 1997–1. January 2006 Richard K. Davidson
January 1, 2006–2. March 2012 James R. Young
March 2, 2012–5. February 2015 John J. Koraleski
since February 5, 2015 Lance M. Fritz

Chief Executive Officer and Chairman of the Union Pacific Corporation

Period Surname annotation
January 30, 1969–1. August 1977 Frank E. Barnett Chairman and CEO
August 1, 1977–1. July 1985 James Evans Chairman and CEO from August 1, 1977–1. May 1983; Chairman May 1, 1983–1. July 1985
May 1, 1983–1. October 1987 William S. Cook CEO May 1, 1983–1. July 1985, Chairman and CEO from July 1, 1985–1. October 1987
October 1, 1987–1. January 1997 Andrew L. Lewis Chairman and CEO
January 1, 1997 – January 2006 Richard K. Davidson Chairman and CEO, January 2006–31. January 2007 Chairman
January 2006–15. February 2014 James R. Young CEO from January 2006, from January 2007 to March 2012: CEO and Chairman; from March 2, 2012 - February 15, 2014: Chairman
March 2, 2012–30. September 2015 John J. Koraleski from March 2, 2012: CEO, from March 2014 to February 5, 2015: CEO and Chairman, since February 5, 2015: Chairman
since February 5, 2015 Lance M. Fritz CEO, from October 1, 2015: CEO and Chairman

literature

  • Maury Klein: Union Pacific: The Reconfiguration: America's Greatest Railroad from 1969 to the Present . Oxford University Press, 2011, ISBN 978-0-19-536989-2 .

Web links

Individual evidence

  1. ↑ a b c Form 10-K 2017 , accessed April 9, 2017
  2. ^ The World's Largest Public Companies . In: Forbes . ( forbes.com [accessed July 17, 2018]).
  3. ^ Maury Klein: Union Pacific: The Reconfiguration: America's Greatest Railroad from 1969 to the Present . S. 45-49 .
  4. ↑ Annual Report 2001 of the Union Pacific Corporation
  5. ^ Maury Klein: Union Pacific: The Reconfiguration: America's Greatest Railroad from 1969 to the Present . S. 408-409 .