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Lance Fritz

Former Chairman, President & Chief Executive Officer, Union Pacific

Search every verified Lance Fritz interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Lance Fritz, former Chairman, President, and CEO of Union Pacific, has discussed the company's operational and financial performance in several media appearances. In October 2022, Fritz stated that the company made "sequential improvement" in network fluidity from the second to third quarter, and he anticipated a return to normal operations in the fourth quarter. He attributed volume pullbacks to cooling consumer demand, particularly in domestic intermodal and parcel shipments, while noting strong demand in coal, grain, and some industrial segments. Fritz also addressed labor negotiations, saying he was "less comfortable" after the BMWED Maintenance of Way employees failed to ratify a contract, but he anticipated closing agreements by the end of the year. In 2023, Fritz described the hiring picture as "very difficult" in 2022, particularly in rural areas, and noted that Union Pacific was using hiring bonuses and a referral program to attract workers. He discussed the company's implementation of Precision Scheduled Railroading (PSR) to lower costs and improve the operating ratio. Regarding the regulatory environment, Fritz said the Surface Transportation Board (STB) had done "a very good job" of balancing its decisions with the health of the freight rail network. Earlier, in 2022, Fritz addressed supply chain disruptions, citing high import demand, a shortage of truck drivers and warehouse labor, and the impact of COVID-19. He also described organized train theft in the Los Angeles area as a "real problem," stating that the company was working with law enforcement and investing in security measures.

Selected quotes

Recent appearances

  • Lance Fritz - 2024 Omaha Business Hall of Fame Honoree

    May 15, 2024 · 📺 Greater Omaha Chamber

    Lance M. Fritz served as Union Pacific chairman, president, and chief executive officer from 2015 until 2023, when he retired from those roles after 23 years of service with the railroad. He currently serves as a special advisor to the company. Lance began his Union Pacific career in July 2000 as vice president and general manager-Energy in the company’s Marketing and Sales Department. Throughout his Union Pacific career, he also served in executive positions in the Operating and Labor Relations departments, and as president and chief operating officer of Union Pacific. In addition to his on…

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  • Right Time To Step Down, Says Union Pacific CEO

    July 26, 2023 · 📺 Bloomberg Television

    Union Pacific CEO Lance Fritz says that this was the right time for him to step down. He thinks that technology will unlock asset utilization and safety for railroads. Lance also discusses the economy, carbon neutrality and 2Q results in an interview with Bloomberg's David Westin. -------- Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ -------…

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  • Union Pacific CEO on earnings: Hiring picture ‘very difficult’ in 2022

    May 15, 2023 · 📺 Yahoo Finance

    #UnionPacific #employees #yahoofinance Union Pacific CEO Lance Fritz joins Yahoo Finance Live anchor Rachelle Akuffo to discuss earnings, increasing productivity and gross margins, hiring in rural areas, and investment in the U.S. rail network. Don't Miss: Valley of Hype: The culture that built Elizabeth Holmes WATCH HERE:    • Elizabeth Holmes: 'Valley of Hype' [pre-sh...   Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and m…

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  • Union Pacific CEO breaks down fourth-quarter earnings and railroad outlook

    January 26, 2023 · 📺 CNBC Television

    Lance Fritz, Union Pacific CEO on company joins 'Squawk on the Street' to break down the company's Q4 earnings results.

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  • STB Oversight Hearing Pertaining to Union Pacific Railroad Company’s Embargoes, EP 772 (Day 1)

    November 22, 2022 · 📺 Surface Transportation Board

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  • The U.S. economy is clearly slowing, says Union Pacific CEO Lance Fritz

    May 19, 2023 · 📺 CNBC Television

    Union Pacific CEO Lance Fritz joins 'Squawk Box' to weigh in on the state of the supply chain and provides an outlook for the U.S. economy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn:…

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  • Rail strike is possible, but 'not probable': Union Pacific CEO

    October 01, 2022 · 📺 CNBC Television

    Union Pacific CEO Lance Fritz says while the rails have 'some negotiating to do,' he thinks a threatened rail strike will be avoided before a Nov. 19 deadline. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-…

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  • Union Pacific earnings: ‘We made sequential improvement,’ CEO says

    October 27, 2022 · 📺 Yahoo Finance

    #UnionPacific #yahoofinance Union Pacific CEO Lance Fritz joins Yahoo Finance Live anchor Akiko Fujita to discuss earnings, growth, and the possibility of an economic slowdown. Don't Miss: Valley of Hype: The Culture That Built Elizabeth Holmes WATCH HERE:    • Elizabeth Holmes: 'Valley of Hype' [pre-sh...   Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finan…

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  • Union Pacific CEO Lance Fritz discusses recent earnings and supply chain outlook

    May 18, 2023 · 📺 CNBC Television

    Union Pacific CEO Lance Fritz joins 'Squawk on the Street' to discuss demand shift related to the floods in the Mississippi River, the labor negotiations underway in the company, and consumer slowdown impacting growth prospects for the fourth quarter. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business ne…

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  • Union Pacific CEO on Second-Quarter, Economy, Hiring

    May 21, 2023 · 📺 Bloomberg Television

    Union Pacific Chairman and CEO Lance Fritz discusses second-quarter performance, US economic outlook, and hiring efforts with Bloomberg's David Westin on "Balance of Power."

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