Union Pacific CEO's rate-hike comment sounded like threat, US STB told
( November 12, 2026, 18:22 GMT | Official Statement) -- MLex Summary: When Union Pacific Railroad CEO Jim Vena ended a speech with a remark about possibly hiking rates for shippers who oppose his firm's buyout of Norfolk Southern Railway, shippers watching those remarks didn't interpret the comment as a joke, believed the statement was a credible threat and felt discouraged from publicly opposing the deal, according to Richard Miller, the CEO of Spearpoint Logistics, an intermodal freight brokerage for shippers who previously worked for Union Pacific's competitor BNSF Railway. Miller said in a letter to the US Surface Transportation Board that he was present at the speech at a convention in March in San Antonio.See attached document. ...
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