UP in the dumps, railroad industrie in a recession.

from that link:

Although earnings were down, the railroad reported a healthy operating ratio, a key metric for analysts and investors, of 63.2 percent.

This was due to efforts to reduce costs, as the railroad has furloughed 3,900 workers and put 1,400 locomotives in storage, as well as price increases for hauling freight.

Union Pacific reported a quarterly net income of $1.1 billion, or $1.31 per share, down more than 21 percent from $1.4 billion, or $1.61 per share, a year earlier...

The company earned revenue of $5.2 billion, down more than 15 percent from $6.15 billion a year earlier. Analysts had expected revenue of $5.45 billion.

Union Pacific said it planned to invest $3.75 billion on its network in 2016, down from $4.48 billion in 2015.

Sarcastic question for steam fans:  so why hasn't UP made faster progress on restoring the 844 and 4014 and 3985? Shouldn't those be priorities for PR purposes?  Not likely ...

For what it's worth, the UP just furloughed 75 Machinists, Electricians, and Foremen & Officers, at the big North Platte Diesel Shop. 

If the UP's going to invest less in the "network," why would they invest more in the steam program?  UP's shippers and customers are concerned with getting their stuff moved quickly and efficiently on the railroad and the stockholders with their dividends, not with a couple of tea kettles.

Rusty

I've said it before and I'll say it again- get ready for a rough economic ride in the very near future.  If the railroads are any indication of where the economy is headed, and they often are, things are going to get worse before long...