By Maury Klein
Praised through the Chicago Tribune as "thoroughly and compellingly distinctive history," Volumes I and II of Maury Klein's enormous heritage of the Union Pacific Railroad coated the years from 1863-1969. Now the 3rd and ultimate quantity brings the tale of the Union Pacific--the oldest, greatest, and so much profitable railroad of recent times--fully brand new.
The ebook follows the trajectory of an icon of the commercial age attempting to negotiate its means in a post-railway international, stricken by setbacks resembling exertions disputes, getting older infrastructure, executive de-regulation, ill-fated mergers, and extra. through 1969 an identical corporation century previous had triumphantly pushed the golden spike into Promontory Summit--to immortalize the nation's first transcontinental railway--seemed a dinosaur destined for bankruptcy. yet as Klein exhibits, the Union Pacific not just survived yet is once again thriving, which proves that railways stay serious to trade and in the US, whilst passenger educate shuttle has all yet disappeared. Drawing on interviews with Union Pacific team of workers prior and current, Klein takes readers contained in the nice railroad--into its boardrooms and alongside its tracks--to convey how the corporate tailored to the quickly altering global of recent transportation. The ebook additionally bargains interesting images of the lads who've run the railroad. The demanding situations they confronted, and the thoughts they built to fulfill them, supply readers an extraordinary glimpse into the interior workings of 1 of America's nice businesses.
A capstone on a notable success, Union Pacific: The Reconfiguration will attract historians, company students, and transportation buffs alike.
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Extra info for Union Pacific: The Reconfiguration: America's Greatest Railroad from 1969 to the Present
Although in poor physical shape, the RI offered the best access to the vital Chicago and St. Louis gateways. 28 Thus began UP’s quest to make its first major acquisition since 1901, when Harriman bought the SP. The experience bore an uncanny resemblance to the Vietnam War. The company’s best and brightest minds plunged into an intensive effort to make the right decision in the right way based on mountains of data and endless hours of discussion. Despite all the expertise it could muster, however, the company found itself bogged down in a morass that outlasted even the Vietnam War and was no less filled with perils, pitfalls, and well-intended decisions that backfired.
The company still occupied the same office at 120 Broadway that it did when Harriman presided over it. The furniture was old and worn. When Dick Grove arrived at the office to become assistant secretary, he was given an ancient rolltop desk with the top removed and a large patch of linoleum covering a hole in its back. The boardroom’s magnificent wooden table had grown too small for the number of directors. ” Grove recalled. “No. ”6 Through depression and wars the office plodded along its well-worn path.
The company lacked a capital budget, an income budget, or even a cash-flow statement. Capital budgets got made by an ad hoc process in which Omaha proposed and New York disposed. “The company more or less ran itself, you know,” observed Coughlin. ”10 As a result, Omaha went its way and New York followed. The system worked only because the company was strong and prosperous enough to survive its internal lethargy. Paying attention and showing up every day on time remained the criteria for keeping a job, and people were very anxious about job security.