< Return to Bears pageUNP is losing market share to competitor BNI
On March 30, 2009, Goldman Sachs downgraded UNP from "buy" to "neutral" as it moved competitor Burlington Northern Santa Fe up from "neutral" to "buy;"[1] Goldman believes that BNI has overthrown UNP from the best railroad throne.[1] In Quarter 1 2009, UNP had the worst volume declines in the industry;[1] this goes to show that Burlington Northern has been capturing market share from UNP. Lost pieces of the market share pie is a double whammy in an economic environment where the entire pie may be shrinking.