MONTREAL — CN announced that its Board of Directors has approved a third-quarter 2009 dividend on the Company’s common shares outstanding. A quarterly dividend of 25.25 cents per common share will be paid on Sept. 30, to shareholders of record at the close of business on Sept. 9. — PRNewswire-FirstCall
WASHINGTON — The Association of American Railroads reported that U.S. railroads originated 1,039,889 carloads of freight in June 2009, down 19.7 percent with 255,668 fewer carloads, compared with June 2008. U.S. intermodal rail traffic – comprising trailers and containers on flat cars that are not included in carload figures – totaled 755,000 units in June 2009, down 18.2 percent compared with the same period last year with 168,031 fewer trailers and containers, the association said. For the first six months of 2009, total U.S. rail carloadings were down 19.5 percent (1,594,411 carloads) to 6,579,294 carloads, while intermodal traffic was down
SAULT STE. MARIE, Ontario — CN and the Sault Ste. Marie Economic Development Corp. (SSMEDC) announced today an agreement to acquire locomotives and passenger cars to re-equip the Agawa Canyon Tour Train that runs north of The Sault into spectacular Canadian Shield country. CN, the operator of the tour train, is acquiring three Electro-Motive F-40 locomotives, eight coaches, two cafe/lounge cars, three club cars and a presentation coach from Ansco Investment Company of Denver, Colo. The fleet renewal will include the refurbishment of the Ansco cars, as well as two existing CN passenger dome cars. The re-equipped train will accommodate
CHICAGO — Canadian National announced a voluntary mitigation agreement with the City of Elgin, Ill., addressing the municipality’s issues with CN’s acquisition of the principal lines of the former Elgin, Joliet and Eastern Railway Company (EJ&E). CN completed the acquisition on Jan. 31, 2009, and is running trains over the line. Under the agreement with Elgin, CN will provide funding for noise mitigation, emergency response training, and measures to maintain existing quiet zones. CN now has voluntary mitigation agreements with 16 municipalities that are home to more than 50 per cent of the population along the EJ&E in Illinois and
MONTREAL — E. Hunter Harrison, president and chief executive officer of CN, announced the appointment of Luc Jobin, C.A., as the executive vice-president and chief financial officer of the company effective June 1. Jobin, 50, will be responsible for financial management and strategic planning at CN. Jobin will succeed Claude Mongeau, whom the CN board of directors recently selected to become CN president and chief executive officer effective Jan. 1, 2010. Between June 1 and yearend, Mongeau will act as executive vice-president, spending most of his time in the field broadening his knowledge of CN’s network and operations before assuming
CALGARY — David G. A. McLean, chairman of the board of directors of CN, announced the board’s selection of Claude Mongeau to succeed E. Hunter Harrison as president and chief executive officer of the company at the end of 2009. Mongeau, 47, currently CN’s executive vice-president and chief financial officer, has held successively senior positions since joining the company in 1994. McLean said: “CN’s board of directors is delighted to announce the selection of Claude Mongeau. The board thoroughly reviewed the company’s future strategic priorities and the skills and attributes required of our new CEO. We are confident that Claude
WASHINGTON — The Surface Transportation Board said that Canadian National Railway Company has filed its first compliance reports pursuant to the Board’s oversight of CN’s acquisition of the Elgin, Joliet & Eastern Railway Company in Canadian National Railway and Grand Trunk Corp. — Control — EJ&E West Co. The Board approved the acquisition on Dec. 24, 2008, subject to environmental mitigation and other reporting conditions, which require CN to submit monthly operational reports and quarterly environmental reports to the Board during a five year oversight period. CN’s monthly operating report includes data detailing train volumes, accidents and incidents, and street
CHICAGO — CN announced agreements with the villages of Matteson and Vernon Hills, Ill., addressing the municipalities’ concerns with CN’s acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). CN completed its EJ&E acquisition on Jan. 31. Under the agreements with south suburban Matteson, CN will fund the creation of quiet zones and noise mitigation, and provide emergency response personnel training, among other items. In north suburban Vernon Hills, CN will assist in the creation and maintenance of quiet zones, install safety fencing, and provide emergency response personnel training and emergency communication improvements. “CN continues
CHICAGO — CN announced a voluntary mitigation agreement with the Village of Richton Park, Ill., located southwest of Chicago, addressing the municipality’s concerns with CN’s acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). CN completed its EJ&E acquisition on Jan. 31. The agreement will see CN assist in the creation and maintenance of quiet zones, fund safety fencing, and provide emergency response personnel training and emergency communication improvements. “Our pact with Richton Park marks the twelfth voluntary mitigation agreement signed by CN with communities affected by the EJ&E acquisition,” said Gordon Trafton, CN senior
NORFOLK, Va. — CN and Norfolk Southern announced an initiative to create a “MidAmerica Corridor” in which the railroads will share track between Chicago, St. Louis, Kentucky and Mississippi to establish shorter and faster routes for merchandise and coal traffic moving between the Midwest and Southeast. This initiative, when finalized through definitive agreements, will have three components. First, Norfolk Southern (NS) will haul CN freight between Chicago and St. Louis, reducing the distance between these points for CN shipments by 60 miles and providing improved connections to other rail carriers through the St. Louis gateway. Second, NS will use CN’s
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