August 27, 2016

CP requests declaratory judgment from STB on NS trust structure

Bloomberg reported that Canadian Pacific is seeking a declaratory order from the U.S. Surface Transportation Board regarding the proposed voting structure in its attempted acquisition of NS. Read the entire article here.

Safety Alert: shotgun shell found in locking pin

Canadian Pacific Railway recently reported that a shotgun shell was found in the locking pin of the coupler on the Quebec Gatineau Railway (QGRY) in Quebec. “This type of mischief has potentially fatal consequences and serves as a reminder that employees must always be aware of their surroundings, perform thorough equipment inspections and report any […]

Union criticizes cuts in railroad maintenance crews

BISMARCK, N.D. – The union representing maintenance workers says cuts by Canadian Pacific Railway could exacerbate delays in rail shipping in the region. The International Brotherhood of Teamsters says CP has eliminated or moved some workers who build and maintain tracks, right of ways, buildings and bridges for the railroad. Read more from KFGO.

Bid report boosts CSX stock, but deal seen as remote

Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday (Oct. 13) following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd (CP.TO), but analysts said any such deal would face significant regulatory and other hurdles. “You could make the argument that there is not much overlap between […]

Class I railroads release 3rd quarter earnings

CSX Corporation announced Oct. 15 that they had net earnings of $463 million or $.046 per share for the third quarter of 2013. Earnings for the same quarter last year were $455 million or $.44 per share. Earnings are up by $8 million over last year, but down $72 million from the second quarter of […]