Union Pacific CEO: "I'll probably increase everybody's rates" if they oppose rail merger
Axios · Colin Campbell ·
Union Pacific argues it was an offhand joke, but the Surface Transportation Board isn't laughing.
Union Pacific posted the video of CEO Jim Vena warning shippers at a conference in March that his railroad could "teach you a lesson" by raising rates if they opposed its Norfolk Southern merger.
The big picture: Union Pacific argues it was an offhand joke at the end of conference remarks, but the Surface Transportation Board isn't laughing.