(Reuters circulated the following on April 23, 2009.)
CHICAGO — Although it is difficult to tell how long it will take before a recovery begins for the U.S. economy, the pace of decline appears to have slowed, the top executive of No. 1 U.S. railroad Union Pacific Corp (UNP.N) said on Thursday.
“After a very significant fall in freight volumes in recent months, we really think this thing has flattened out,” Chief Executive Jim Young told Reuters in a telephone interview.
Young added that if Union Pacific continued to deliver good service to its customers, he was confident the railroad would be able to keep raising its prices.