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Where are Union Pacific’s ($UNP) Profits Going? The Answer may Surprise You

Erik Kobayashi-Solomon

April 12, 2017

After posting my last article on Union Pacific, in which I characterized the firm as a monopolist, I got pages of angry comments from readers (mostly investors who have taken bullish positions in Union Pacific, rather than the bearish position that I hold) informing me of how little I understood about the railroad business. One …

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