(The Associated Press circulated the following on January 23, 2009.)
NEW YORK — The uncertain economy is hurting the nation’s major freight railroads because shipping demand has fallen. But Union Pacific Chief Executive Jim Young said Thursday the railroads should be helped by a stimulus package if Congress approves one.
And the railroads will benefit regardless of whether most of the stimulus money goes to consumers or whether it goes to major infrastructure projects because either will contribute to higher shipping demand.
But it’s difficult to make plans based on a stimulus package because it’s hard to predict when one might get approved and how quickly it might affect the economy.