October 23, 2014

Canadian Pacific ends CSX deal talks

cp-logo-240

Canadian Pacific Railway says it has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions. The railway operator did not say why it ended talks, but it did note in a brief statement that regulatory concerns appear to be a major deterrent for railroads considering combinations. Read the complete [...]

Two major rail operators may merge

Canadian Pacific Railway has approached and been rebuffed by CSX about a merger that could bring together two of the world’s largest railroad operators, according to a published report Sunday afternoon on the website of The Wall Street Journal. If a merger were negotiated, it could rally a volatile Wall Street this week and eclipse in size Berkshire [...]

CP sees profit doubling with longer trains

cp-logo-240

Canadian Pacific Railway Ltd. (CP) plans to more than double profit in four years as Chief Executive Officer Hunter Harrison seeks to improve efficiency by running longer, faster trains at Canada’s second-largest railroad. Revenue will probably climb to C$10 billion ($9 billion) in 2018 from last year’s C$6.1 billion, the Calgary-based railroad said yesterday in [...]

CP employee injured in train accident

SOUTH BELOIT, Ill. — A Savanna, Illinois, man is in stable condition after suffering a severed leg, hand and forearm Wednesday in a train accident in South Beloit. Shawn Flickinger, 36, of Savanna, was airlifted near Oak Grove Avenue in South Beloit, to the OSF Saint Anthony Medical Center in Rockford, Illinois, after South Beloit [...]

CP CEO: U.S., Canada should work together on regs

cp-logo-240

CALGARY – The CEO of Canadian Pacific Railway says he’d like to see Canada and the United States work together on rail regulations – though he admits it may be difficult to pull off. The company is trying to talk to regulators in Washington and Ottawa about how the lack of consistency is hurting business, [...]

Rail companies to report fertilizer delivery plans

PIERRE, S.D. (AP) – A federal oversight board told Canadian Pacific Railway and BNSF Railway that they have until Friday to report their plans to ensure delivery of fertilizer shipments for spring planting of U.S. crops. The Surface Transportation Board’s decision Tuesday comes in response to a hearing it held last week on recent service [...]

CP worker injured after being pinned under train car

ALGONA, Iowa – Officials said on Wednesday (March 5) they won’t be releasing the name of a railroad employee injured when he was pinned under a train car on Tuesday near Algona. Canadian Pacific said it won’t release the worker’s name citing it as an “internal matter.” Read the complete story at the Globe Gazette.

SMART TD members picket CP in Minn.

Minnesota Gov. Mark Dayton on Thursday (Feb. 6) proposed initiatives to enhance railroad safety on the same day that rail workers protested Canadian Pacific’s safety practices by picketing its U.S. headquarters in Minneapolis. The governor announced through his press secretary that he will urge legislative leaders to hold hearings on the United Transportation Union’s reports [...]

Class I railroads release 4th quarter earnings

CSX_logo

CSX Corporation announced its fourth quarter and full-year earnings for 2013 Jan. 15. The railroad reported net earnings of $426 million or $0.42 per share for the fourth quarter. These earnings were down from the same quarter in 2012, with earnings of $449 million or $0.44 per share. Earnings dropped $37 million from the third [...]

‘Chaplain’ quizzes mom of boy who lost feet to train

ST. PAUL, Minn. – Marshawn Robinson is waiting for a pair of prosthetic feet after his were severed by a freight train in St. Paul just a few weeks ago, but his recovery was interrupted with what his family describes as a “strange visitor.” The 9-year-old spent nine days in the hospital after the accident, and [...]