November 29, 2015

Canadian Pacific explores take over of NS


Canadian Pacific Railway Ltd., the second-biggest railroad in Canada, is exploring a takeover of  U.S.carrierNorfolk SouthernCorp. in a fresh attempt to consolidate the NorthAmerican industry,according to people familiar with the matter.The shares surged on the news. Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, which is valued at about [...]

Canada readies back-to-work legislation on CP strike


Canadian Pacific Railway Ltd. began operating a reduced freight schedule run by its managers on Feb. 15, after talks on a new contract broke down and more than 3,000 train engineers and conductors walked off the job. Canada’s No. 2 railway and the Teamsters Canada Rail Conference failed to agree on terms including on scheduling [...]

Canada rails add workers, engines to halt winter woes

Canada’s two biggest railroads aren’t letting winter go unchallenged. Canadian National Railway Co. (CNR) is strengthening its network, increasing employees and engines to keep trains running smoothly prevent another winter of icy and prevent another winter of profit-sapping gridlock. Canadian Pacific Railway Ltd. (CP) is putting additional staff on standby, redeploying some equipment to “strategic” [...]

NS to buy part of northeast rail line from CP


CALGARY – Canadian Pacific Railway Ltd. is selling a stretch of track in the northeastern United States to a major U.S. railway in a $217-million deal. Norfolk Southern plans to acquire nearly 455 kilometres of rail line from Delaware & Hudson, a CP subsidiary, between Sunbury, Pa., and Schenectady, N.Y. Read the complete story at [...]

Canadian Pacific ends CSX deal talks


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


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


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 [...]