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Posted on 11/13/2026 3:29:57 PM PST by E. Pluribus Unum
Regulators reviewing deal to create the first coast-to-coast railroad say they have ‘serious concerns’ after watching video of Union Pacific CEO’s remarks
Union Pacific’s (UNP) chief executive may have tanked his own deal, a $71.5 billion plan to create a transcontinental railroad that he touted as the future of freight.
It goes back to private remarks Jim Vena made at an industry event in March. The ultracompetitive, tough-talking executive threatened anyone who spoke out against Union Pacific’s proposed combination with Norfolk Southern (NSC), which is currently awaiting regulatory approval.
“I’ll probably increase everybody’s rates that said they didn’t want a seamless railroad by three or four extra percent to teach you a lesson,” Vena said in a video recording of his remarks.
Union Pacific had spent months trying to prevent the recording from going public. Now that it is out, farmers, chemical makers and other opponents have amped up their warnings about the dangers of creating a rail giant with enormous pricing power.
Meanwhile, the Surface Transportation Board, the federal agency that must approve the deal, has moved to reassure all the companies, farms and unions that would be affected by the deal that it is taking into account the influence that threats can have on public comment. The board could make a decision whether to approve the deal in the middle of next year.
The board had ordered Union Pacific to release the video of Vena’s remarks. Earlier this month, it said it has “serious concerns” that Vena’s remarks may influence the willingness of those who would be affected by a merger to share their views for fear of commercial repercussions.
(Excerpt) Read more at wsj.com ...
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He’s probably banging ChiCom spies too.
Isn’t everybody?
https://mapscaping.com/interactive-us-railroad-map/
Click on BNSF, CSX, Norfolk Southern, Union Pacific
I think individual shippers are the best positioned to make their case.
I get a sense there are pluses and minuses.
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