A Texas appeals court recently declared an 1872 jobs agreement between Palestine, Texas, and Union Pacific to be unenforceable.
The ruling moves Union Pacific (NYSE: UNP) a step closer to its goal of closing a rail car shop in the east Texas town of 18,000.
The 12th Court of Appeals in Tyler, Texas, issued the ruling on Feb. 22, finding that the agreement requiring Union Pacific to maintain a set number of jobs in Palestine — a pact that was signed in 1872 and updated in 1954 — places restraints...
https://www.freightwaves.com/news/texas-court-sides-with-union-pacific-over-1872-jobs-pact-with-town