August 27, 2016

CP to eliminate more jobs in 2016

The Calgary Herald reported that Canadian Pacific Railway may eliminate more jobs in 2016 than originally announced; possibly as many as 1,400 positions. Read the entire story here.

Class I’s announce 2016 first quarter financial results

CSX Corporation announced declining financial results for the first quarter 2016. Net earnings for the railroad decreased to $356 million or $0.37 per share, down from first quarter 2015 reported net earnings of $442 million or $0.45 per share. “As we managed through the impact of the continued coal decline and other market forces during […]

Minn. SLD Qualy, “CP fatalities preventable”

Fox 9 reports that a fatality that occurred last week during a crew change on Canadian Pacific may have been preventable. In an interview with the news channel, Minnesota State Legislative Director Phil Qualy said that CP could have taken action to move the crew changes to a safer area, but took no action. Qualy […]

CP train strikes tanker truck in Callaway, Minn., crew injured and town evacuated

Inforum.com reported that a Canadian Pacific train struck a tanker truck carrying propane in Callaway, Minn. Read the entire story here.

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.

NS profits fall, 2,000 jobs to be cut

WSLS.com reported that Norfolk Southern plans to cut 2,000 jobs in response to its fourth quarter profits sliding 29 percent amidst its attempts to ward off a takeover bid from Canadian Pacific.  Read the entire article here.

Dem calls for Senate hearing re: CP proposal

The Hill.com reported yesterday that Sen. Joe Manchin (D-W.Va.) is requesting a Senate hearing to investigate Canadian Pacific’s proposed takeover of Norfolk Southern. The Hill quoted Manchin as describing the proposal as a “Wall Street takeover.” Read the complete article here.  

Freight cars derail in Minn.

News8000.com reported this morning that six mixed-freight cars of a Canadian Pacific train derailed last night near Reno, Minn.  No injuries were reported.  Click here to read the entire article.

Class I’s release fourth quarter and annual earnings

CSX Corporation announced a solid fourth quarter and full-year financial performance for 2015. The railroad announced declines for the fourth quarter and mixed financial results for the full year. CSX reported in a press conference that net earnings declined five percent to $466 million or $0.48 per share (down two percent), down from last year’s […]

Fatigue at CP threatens rail safety

The CBC News reported that Transport Canada recently ordered Canadian Pacific Railway to change its fatigue-management practices and freight train line-ups in British Columbia since they pose “an immediate threat to safe railway operations.”  Read the entire article here.