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Rail oil prospects excite Wall Street
Railroads these days are enjoying good “fracking” business—no pun intended—and Wall Street has taken notice.
Joy, trepidation, fear at CP—all at the same time
The worst kept secret in the railroad industry for more than a month has been the identity of the new chief executive of Canadian Pacific Railway. For the record, E.…
Hunter Harrison named CP President, CEO
Canadian Pacific Friday officially made its long-anticipated move of appointing E. Hunter Harrison president and chief executive officer, completing a significant revision of CP leadership through its revamped board of…
Lines on a map do not a merger make
While the railroad world waits for the Canadian Pacific Railway board of directors to name a permanent chief executive to succeed acting CEO Steve Tobias, some railfans are whiling away…
CP, U.S. Silica set frac sand pact
Canadian Pacific and U.S. Silica Holdings, Inc. Friday announced a multi-year agreement for the movement of frac sand from U.S. Silica's newest mining and processing facility in Sparta, Wis., as…
CP director steps down from post
Canadian Pacific's Board of Directors, significantly revamped last month through a proxy battler led by New York-based Pershing Square Capital Management, continues to change as David Raisbeck now has resigned…
Wall Street rewards CP stock
Investors on Wall Street, watching events at Canadian Pacific carefully throughout the week, continued to reward the company Thursday for its apparent—and now affirmed—shakeup of CP's Board of Directors.
CP’s Green, five directors step down from Board
In a sweeping move, Canadian Pacific early Thursday announced not only the departure of President and CEO Fred Green—a move widely expected—but also the declaration of six existing directors not…
CP in the time of E. Hunter Harrison
As this is written, much of the railroad world awaits the Thursday, May 17, vote by Canadian Pacific share owners. Early book betting says that insurgent hedge fund Pershing Square…
CP vs. Pershing Square: Here we go again!
Reaction to the fight for control of Canadian Pacific seems to depend on whether the person reacting is a railfan or an investor.
Teamsters weigh strike against CP
The general committees of the Teamsters Canada Rail Conference (TCRC), representing the conductors, trainmen, yardmen, locomotive engineers and rail traffic controllers employed by Canadian Pacific Railway, announced Thursday they have…
CP: Pershing Square has “no plan and no ideas”
Following Canadian Pacific’s favorable first-quarter 2012 earnings report last week, Pershing Square Capital Management stepped up its attack on CP President and CEO Fred Green (pictured) and his management team…
CP trumpets 1Q earnings ahead of proxy battle
Canadian Pacific Railway early Friday announced stellar first-quarter net income of C$142 million, up C$108 million, or 318%, from the first quarter of 2011. Diluted earnings per share did nearly…
CP earns key analyst upgrade
In his proxy fight for control of Canadian Pacific, Pershing Square Capital Management hedge fund chief Bill Ackerman contends that the railroad's management has failed to seize opportunities to improve its performance.
Canadian Pacific proxy battle heats up
The stage has been set for Canadian Pacific’s annual shareholders meeting on May 17, where hedge fund Pershing Square Capital Management will attempt a takeover of CP and replace the…
CP posts higher revenue, lower net income
Canadian Pacific Railway Thursday reported fourth-quarter net income of C$221 million and diluted earnings per share of C$1.30, including 22 Canadian cents per share income tax benefit. For the full…
CN, CP reach accord for potash shipments
Canadian National and Canadian Pacific reached separate 10-year agreements with Canpotex Ltd. to transport potash volumes that Canpotex ships to export markets. Under CP's agreement, CP will be Canpotex's principal…
CP sets 2012 capital plan
CP sets 2012 capital plan Canadian Pacific Railway Wednesday announced that it will invest between C$1.1 billion and C$1.2 billion for infrastructure renewal, network enhancements, and expansion projects in 2012.
Will Hunter Harrison reemerge—at CP?
Hunter Harrison, CN’s iconic former chief executive and a Railway AgeRailroader of the Year recipient who is now retired in Florida raising show horses, has been approached to run Canadian…
New bridge eyed for NS Southern Tier
Growing freight traffic potential, spurred on by energy production activity in the Marcellus Shale formation in western New York State and Pennsylvania, is encouraging Norfolk Southern to replace a historic…
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