The Anatomy of Public Corruption

Showing posts with label Union Pacific. Show all posts
Showing posts with label Union Pacific. Show all posts

Union Pacific: Chairman Lance M. Fritz


Lance M. Fritz

Chairman, President and Chief Executive Officer

Union Pacific Corporation

Lance M. Fritz is Union Pacific chairman, president and chief executive officer. He became chairman of the board effective October 1, 2015. Fritz became president and chief executive officer February 5, 2015, when he also was elected to the corporation’s board of directors.

He previously served as president and chief operating officer of Union Pacific Railroad, a position he had held since February 2014, after serving as executive vice president-Operations and vice president-Labor Relations, respectively. He began his Union Pacific career in July 2000 as vice president and general manager-Energy in the company’s Marketing and Sales department.

Before joining Union Pacific, Fritz worked for Fiskars Inc., Cooper Industries, and General Electric. He is a graduate of Bucknell University and earned a master’s degree in management from the Kellogg School of Management at Northwestern University.

Fritz is a member of the board of directors for the Association of American Railroads. He also serves on the U.S. Chamber of Commerce board and executive committee. He is a member of the Business Roundtable, the STRATCOM Consultation Committee, and the Georgia Institute of Technology President’s Advisory Board. Fritz is deeply involved with organizations in his local community. He serves on the Omaha Chamber of Commerce executive committee, the board of directors for Nebraska Medicine, Omaha Symphony, and Omaha’s Henry Doorly Zoo & Aquarium.

Fritz and his wife, Julie, have two children and are committed to helping women and children at risk in the Omaha community.

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Union Pacific Corporation - External Relations

Washington, D.C., Office Contacts

Printz Bolin, Vice President - External Relations

Union Pacific Corporation
700 13th St., N.W., Suite 350
Washington, D.C. 20005
Phone:(202) 662-0104
Fax:(202) 662-0199

 

Printz Bolin was appointed vice president-External Relations in December 2018. He operates out of Union Pacific’s Washington, D.C., office. 

In this position, Bolin is responsible for communicating inside the Beltway about transportation and railroad issues, including economic and safety regulation, passenger rail and Amtrak, security, labor, state-specific and other transportation projects.

Bolin served as assistant vice president-External Relations since 2008. He held various positions since joining Union Pacific in 1991.

He holds a bachelor’s degree from the University of Mississippi.

Bolin and his wife, Kimberly, have two sons.

Wes Lujan, Asst. Vice President - External Relations

Union Pacific Corporation
700 13th St., N.W., Suite 350
Washington, D.C. 20005
Phone:(202) 662-0125
Fax:(202) 662-0199

 

Wes Lujan is the Assistant Vice President - External Relations for Union Pacific. He operates out of the Washington, D.C., office of Union Pacific and its subsidiary, Union Pacific Railroad. In his position, Lujan is responsible for advocating before the federal government on issues impacting the company, including its employees, shareholders, customers, and communities. His career with Union Pacific began in 2007, and he has held prior assignments for the company in Sacramento, CA, Chicago, IL, and Roseville, CA.

Lujan holds a Master of Public Administration from the University of Southern California (1999), Bachelor of Arts in History from Chico State University (1997), and completed the University of Chicago's Booth School of Business Executive Development Program (2011). In 2015, he was chosen to represent the United States on an international delegation to the Republic of Turkey with the American Council of Young Political Leaders (ACYPL). In his free time, Lujan enjoys spending time camping and hanging out in the forests of Northern Virginia with his wife, son, and daughter, and walking his two Great Danes.

Andrew Brady, General Director - External Relations

Union Pacific Corporation
700 13th St., N.W., Suite 350
Washington, D.C. 20005
Phone:(202) 662-0115

Andrew Brady is a General Director-External Relations. He operates out of Union Pacific’s Washington, D.C., office and advocates on behalf of the company before federal lawmakers and regulators. Prior to joining Union Pacific in 2019, Brady was an Assistant Vice President of Government Affairs at the Association of American Railroads. Brady also worked in various positions in the U.S. House of Representatives from 2011-2016, after beginning his career in the Congressional and Public Affairs division of the U.S. Chamber of Commerce.

Brady graduated from the George Washington University in Washington, D.C. with a B.A. in Political Science with a focus on public policy.

Patty Richey, Sr. Manager - Political Programs

Union Pacific Corporation
700 13th St., N.W., Suite 350
Washington, D.C. 20005
Phone: (202) 662-0110
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TPG Capital Buys Catellus Assets for $505M

TPG Capital Buys Catellus Assets for $505M


Buyout shop TPG Capital will pay roughly $505 million for a portfolio of U.S. retail and mixed-use assets currently owned by ProLogis. The properties include Los Angeles Union Station, four shopping centers, two office buildings and two residential development joint ventures, among others. The assets were acquired when ProLogis merged with Catellus Development Corp. in 2005. Private equity firm TPG Capital has more than $48 billion under management.
PRESS RELEASE
ProLogis (NYSE: PLD), the leading global provider of distribution facilities, announced today that it has entered into a definitive agreement with affiliates of
TPG Capital (TPG) to sell a portfolio of U.S. retail and mixed-use assets and the Catellus name for a total purchase price of approximately $505 million.
The properties, owned directly or through equity interests, to be sold in the transaction include: four shopping centers, two office buildings, 11 mixed-use projects with related land and development agreements, two residential development joint ventures, Los Angeles Union Station, certain ground leases and other right-of-way leases. The transaction is expected to be substantially completed in the first quarter of 2011, subject to customary closing conditions. Net proceeds will be used for the repayment of debt and to fund future development activity.
“These assets were acquired in our 2005 merger with Catellus Development Corporation. We have built upon Catellus’ legacy for the past five years and are pleased to see these assets and people transfer to TPG, which has significant experience in real estate and a commitment to building the business. The Catellus assets are high-quality with good long-term prospects, but they are not in keeping with our strategy to concentrate our investment in core industrial properties in the world’s major logistics corridors,” Walter C. Rakowich, ProLogis chief executive officer, said.
“We are excited to partner with the strong Catellus management team in the next chapter of the company’s evolution,” said Kelvin Davis, TPG senior partner. “The company is already well positioned through its diverse portfolio of high-quality, well-occupied assets in growing markets. As a standalone company, we believe the new Catellus will be in an excellent position to capitalize on the economic recovery and build on its strong footprint.”
Ted R. Antenucci Expected to Join New Catellus Entity Mid-2011
It is anticipated that the majority of ProLogis employees associated with the retail/mixed-use properties will be offered employment with Catellus. Following the closing of the sale to TPG, it is expected that ProLogis’ president and chief investment officer Ted R. Antenucci, who joined ProLogis with the Catellus merger in 2005, will rejoin Catellus after a transition period concluding in mid-2011. Mike Curless, managing director of global investments, is expected to assume Antenucci’s investment role upon Antenucci’s departure.
“I would like to thank Ted for his many contributions over the past five years,” Rakowich said. “Not only was he instrumental in the seamless integration with Catellus in our merger, but his efforts as we worked through the de-risking and de-leveraging of ProLogis over the past two years were invaluable. We wish Ted the best in this anticipated next phase of his career with Catellus.
“At the same time, we are fortunate to have Mike Curless with us to take Ted’s place. Mike was formerly the president of Lauth, a major real estate development company, and was with ProLogis from 1995 to 2000. He has been leading our land review and other investment processes throughout the latter part of this year and will work closely with Ted through the anticipated transition.”
ProLogis will retain a preferred equity interest in Catellus of approximately $70 million, which will earn a preferred return at an annual rate of 7 percent for the first three years of the term, 8 percent for the fourth year of the term and 10 percent thereafter until redeemed. Partial or full redemption can occur at any time at TPG’s discretion or after the five-year anniversary at ProLogis’ discretion. ProLogis also will provide $30 million first mortgage financing on Los Angeles Union Station, which will bear interest at 7 percent.
Update to Anticipated Impairments and Other Fourth Quarter Charges
“We are pleased with the progress we have made during the fourth quarter to reposition the company through non-strategic and non-core asset sales, as well as a successful equity issuance and debt tender offers,” Rakowich said. “As a result of these actions, as well as a review of our land bank and other assets and certain restructuring activities, we will incur charges in the fourth quarter associated with the following initiatives.”
* As disclosed on October 26, 2010, in connection with the anticipated disposition of its retail, mixed-use and ground lease assets noted above, the company determined that it expected to recognize a non-cash impairment charge in the fourth quarter. In addition to the charge associated with the planned sale of the Catellus non-core assets, the company expects to incur non-cash charges and impairments related to various other real estate investments (other than land) that are expected to be sold in 2011. The total of all the charges and impairments associated with these activities is expected to range from $170 to $190 million.
* As disclosed on October 25, 2010, the company made a strategic decision to more aggressively pursue land sales, which was expected to result in further land impairments roughly in line with discount ranges presented in the company’s recent investor presentations. As this analysis is now nearing completion, the charges to be taken in the fourth quarter are expected to be $640 to $680 million, representing roughly 27 to 29 percent of the land book basis at September 30, 2010.
* As planned in conjunction with the company’s equity offering and disclosed on December 7, 2010, ProLogis purchased approximately $1.3 billion aggregate principal amount of notes in its senior debt tender offers, which will result in a charge of approximately $139 million to earnings and funds from operations (FFO) in the fourth quarter of 2010. In addition, ProLogis will recognize a loss of approximately $15 million on the repurchase of $303 million aggregate principal amount of convertible debt and a charge of $6 million due to the reduction in capacity on its credit facility from $2.3 billion to $1.6 billion. The total debt-related charge is expected to be approximately $160 million, of which $33 million is non-cash.
* Finally, as previously disclosed on October 25, 2010, in the fourth quarter the company intended to close out various derivative positions in light of the current and anticipated interest rate environment and has identified potential cost savings from platform and organizational efficiencies. Implementation of the derivative cancellations and the efficiency initiatives are expected to result in one-time cash charges of approximately $25 to $30 million.
Additionally, the company is undertaking its standard review of goodwill in conjunction with the preparation of its year-end financial statements. Total goodwill is approximately $400 million, with roughly 60 percent of that amount associated with assets in North America, one-third in Europe and the remainder related to ProLogis’ investment management business.
William E. Sullivan, chief financial officer, said, “All of the items and related charges detailed above have been previously communicated. We are happy to have completed the analyses and to be putting this process behind us, thereby simplifying our reporting. As we move into 2011, we look forward to focusing on growth in our core business.”
2010 Guidance for Core Funds From Operations Unchanged
Excluding all the cash and non-cash charges noted above, the company’s most recent 2010 per diluted share guidance for core FFO and for FFO, excluding significant non-cash items and non-recurring charges, remains unchanged. The charges outlined above equate to per share losses of $2.02 to $2.16 based on the anticipated full-year weighted average share count for 2010.
About ProLogis
ProLogis is the leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.
About TPG Capital
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. TPG seeks to invest in world-class franchises across a range of industries. Real estate-intensive businesses constitute a core area of investment focus and expertise for TPG, including ST Residential (a $4.5 billion portfolio of mortgage loans and REO assets previously owned by Corus bank), Harrah’s Entertainment, Fairmont Raffles Hotels International , Neiman Marcus, ParkwayLife REIT, PETCO and Surgical Care Affiliates
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Former General Counsel for Bennett v. Southern Pacific from 1972 to 1994






Attorney Rick Kopf

Featured on CNN

Former General Counsel for Southern Pacific from 1972 to 1994 where Mr. Kopf moved along with the assets of Southern Pacific to Bechtel Real Estate and Investment, later rebranded to Fremont Group.



Bennett v. Southern Pacific

He lost his suits when his dry cleaner committed suicide around the time he was appearing on CNN
Cnetscandal.blogspot.com
His business eventually collapse in connection to rouge police officers connected to the City of Pittsburg where Bennett was forced out of business by external forces.
One key factor was the pattern of incidents and breakins which included Arson








Steve Burd CEO of Safeway

Member of Hillside

Cnetscandal.blogspot.com
Steve Burd personally ejected me from the Walnut Creek Safeway using a store mananger to accuse me of stealing food.
After several years of harrassment in this store that began near in unison with the arrests of Police Officers in a emerging corruption case that began when not long after the Concord and Lafayette Lynchings
in the 1980s.



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