Union Pacific CEO sees economic recovery on the way

12/27/2009 | Wall Street Journal, The

Class I railroads are poised for a recovery in the coming year, said James Young, chief executive of Union Pacific and chairman of the Association of American Railroads. After sharply declining shipments in 2009, a recent increase in volumes suggests the economy has ended a "near free fall," he said. Meanwhile, Union Pacific is gaining market share from truckers by convincing clients that rail is cheaper and more efficient.

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