What lurks behind the door Hunter Harrison opened?

At age 70, when most of his contemporaries have retired, Canadian Pacific (CP) Chairman Hunter Harrison is plotting his legacy—a seamless North American transcontinental rail duopoly initiated by his proposed CP-CSX merger.

CSX rejects CP merger proposal

Canadian Pacific has approached CSX about a merger, and CSX has rejected the proposal, according to reports in The Wall Street Journal, New York Times, Toronto’s Globe & Mail, and other major media outlets. The reports attributed unnamed sources close to the railroads, not CP and CSX themselves. Unclear is whether CP will persist in attempting a merger deal.

Analyst: CP “on to another finish line with sweat and speed”

Canadian Pacific Railway, under the leadership of CEO E. Hunter Harrison, is “raising the bar, again,” according to Cowen & Co. Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, who attended CP’s 2014 investor day.

CP’s Harrison sets 2018 financial goals

At Canadian Pacific’s 2014 Investor Conference, CEO E. Hunter Harrison unveiled new growth targets out to 2018, and “a multi-year strategy to drive superior service and financial profitability, including more than doubling the company’s earnings per share.”

TCRC-Rail Canada Traffic Controllers ratify agreement with CP

The Teamsters Canada Rail Conference-Rail Canada Traffic Controllers (TCRC-RCTC) has ratified a labor agreement with Canadian Pacific Railway covering approximately 135 rail traffic controllers in Canada. The agreement was ratified with a record 94% of votes cast in favor.
CP locomotives

Rail revenue adequacy? Well, sort of

The Surface Transportation Board (STB) ruled Sept. 2 that five Class I railroads—BNSF, U.S. affiliates of Canadian National and Canadian Pacific, Norfolk Southern and Union Pacific—are revenue adequate. That is, they achieved a rate of return on investments used to provide railroad service that is at least equal to the average cost of that investment capital.

For CP, a record first-quarter 2014

With net income of C$254 million or C$1.44 per diluted share, Canadian Pacific has posted “the best first quarter financial results in company history,” Chief Executive Officer E. Hunter Harrison announced April 21, 2014.

CP on Canadian grain legislation: “Ineffective and grossly unfair”

Canadian Pacific on March 27, 2014 issued a strong response to the Canadian government’s decision to introduce legislation expanding already-regulated interswitching limits for grain movements.

Morningstar names CP’s Harrison 2013 CEO of the Year

Independent investment research provider Morningstar, Inc. has named Canadian Pacific chief executive E. Hunter Harrison as its 2013 CEO of the Year. Morningstar annually recognizes a chief executive “who exhibits exemplary corporate stewardship, demonstrates independent thinking, creates lasting value for shareholders, and has put his or her stamp on an industry.”

Canada cracking down on CBR shippers

Canada’s government has ordered Transport Canada to crack down hard on crude oil shippers who they say continue to evade a directive that they test the contents of tank cars before classifying them as hazardous materials for crude by rail (CBR) transportation.