Monday, July 02, 2012

UP celebrates 150 years

UP celebrates 150 years Union Pacific

Founded July 1, 1862, when President Abraham Lincoln signed the Pacific Railway Act, Union Pacific today celebrates 150 years of building America. Starting by helping construct the first transcontinental railroad, surviving the country's multiple economic crises, supporting America's military men and women through conflicts and forging forward to overcome hurricanes, floods and droughts, Union Pacific remains on America's landscape.

"We believe President Lincoln would be as proud of today's Union Pacific as we are," said Jack Koraleski, president and CEO. "We invest billions of dollars in our country's rail infrastructure so taxpayers don't have to, provide well-paying American jobs and play a key role in the nearly 7,300 communities of which we are a part."

The transcontinental railroad opened the west to commerce and development and Union Pacific continues building its rail network. The railroad invested more than $31 billion in the past 10 years and plans a record $3.6 billion capital spend in 2012.

Koraleski will be joined by 11 other Union Pacific employees to ring the New York Stock Exchange closing bell July 2. The event is as much a celebration of Union Pacific's future as its past.

"Union Pacific has never been stronger or better positioned to serve our 10,000 customers," Koraleski said. "Our employees truly are committed to our mission to serve and I am proud to have these 11 join me to represent all of our 45,000 employees at the closing bell."

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