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United Steelworkers, CP strike five-year agreement
Canadian Pacific and the United Steelworkers (USW) Local 1976, which represents approximately 800 clerical and intermodal workers, have entered into a five-year agreement effective Jan. 1, 2013. The current contract…
CP touts “turnaround” as 3Q earnings beat Street
Canadian Pacific Railway Ltd. Wednesday reported third-quarter earnings of C$224 million (US$226 million), or C$1.30 per diluted share, up 20% from C$187 million, or C$1.10 a share, it notched in…
CP announces new senior operations team
In a move long anticipated by many rail industry observers, Canadian Pacific Wednesday announced the senior operations team who will lead the execution of the new service plans under CP…
Franczak quits as CP operating chief
Canadian Pacific Monday announced the resignation of Mike Franczak, executive vice president and chief operations officer, effective immediately. CP CEO E. Hunter Harrison said a replacement would not be named immediately.
CP, “The last great rail turnaround”
Wall Street analyst William Greene of Morgan Stanley Research North America is telling investors in the rail sector that Canadian Pacific Railway, under the direction of newly appointed chief executive E.…
CP names Redeker chief information officer
Canadian Pacific announced Friday that Michael Redeker has been appointed vice president and chief information officer, effective Oct. 15. Redeker was most recently chief information officer at ATB Financial.
CP touts faster transcontinental service
Canadian Pacific Monday said it has launched new faster intermodal train services connecting Vancouver, British Columbia, to Toronto or Chicago.
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…
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