Union Pacific Corp., the biggest U.S. railroad, posted fourth-quarter profit that topped analysts’ estimates as U.S. economic growth fueled increases in volumes and supported higher rates.
When Warren Buffett bought North America’s second-biggest railroad, he called it an “all-in wager” on the U.S. economy. It’s turning out to be a pretty good bet on the oil industry, too.
North American railroads’ freight volumes surged 17 percent last week, the most in a year, in an indication that the U.S. economy will avoid a second recession.
U.S. Transportation Department regulations meant to ensure truck drivers get more rest were mostly upheld by a federal appeals court, a defeat for companies that said the rules would add cost without improving highway safety.
"L.A. and Long Beach will still be predominant."
- Lee Klaskow on Dec 21, 2014
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