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Union Pacific
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It is corporate culture at UP that brought it down with the SP merger and could be on the brink of doing it again. UPs attitude at the time of the SP merger was we bought yuou and you do not know anything. We know it all and you cannot tell us anything. The know it alls did not listen to the SP operating people in Houston and closed some small yards. The rest is history-bad history. <br /> <br />UP has a corporate history of financial shenagans. Looking back over the years we had the Credit Mobilier (sp?), the eye doctor (Durant), Harriman, a few others that I cannot remember, and now Davidson. True, today's UP does not represent the actions of those of 100+ years ago, but one can only wonder. <br /> <br />I also have not finished Frailey's article, but plan to do it tonight.. I am not a financial analyst, so I cannot speak with authority on the workings of the "earnings" plateau reached that triggered the forgiving of the loans. It appears that all was perfectly legal, however, to an outsider it has a certain stench. Anytime you use "extradornary items" to reach a stated goal the question is raised as to ethics. <br /> <br />Only time will tell.............
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