Canadian Pacific – Page 13

Rail Network Could Face Major Congestion in Coming Decades

May 30, 2008 Railfanning.org News Wire

WASHINGTON — Congestion on the nation’s rail network is expected to increase over the next two decades and could eventually pose a major problem, members of Congress warned. Since deregulation of the freight railroad industry in 1980, Class 1 freight ton-miles have increased 93 percent, while miles of track have decreased 40 percent, U.S. Rep. Corrine Brown, D-Fla., said. The U.S. Department of Transportation estimates that the demand for rail freight transportation will increase 88 percent by 2035, and their studies estimate that an investment of $148 billion in infrastructure expansion will be needed over the ext 28 years to

Royal Canadian Pacific named ‘Tour of a Lifetime’

May 27, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific’s luxury rail service, the Royal Canadian Rockies Experience has been named a “Tour of a Lifetime,” by National Geographic Traveler. “The Royal Canadian Pacific is the most spectacular way to see the Canadian Rockies,” said CP Vice-President, Strategy and External Affairs, Jane O’Hagan. “It’s wonderful to be acknowledged for our consistent effort to deliver the most spectacular experiences.” The Royal Canadian Rockies Experience is a five night/six day luxury rail excursion operated by Royal Canadian Pacific. Nominated in the “Classic Tours” category, the Royal Canadian Rockies Experience was chosen for it’s ability to restore and reinvent

Canadian Pacific Railway Limited Declares Dividend

May 9, 2008 Railfanning.org News Wire

CALGARY — The Board of Directors of Canadian Pacific Railway have declared a quarterly dividend of twenty four and three quarter cents ($0.2475) Canadian per share on the outstanding Common Shares. The dividend is payable on July 28 to holders of record at the close of business on June 27 and is an eligible dividend pursuant to the Income Tax Act. — PRNewswire-FirstCall

STB Makes Rail Revenue Adequacy Determination for 2006

May 6, 2008 Railfanning.org News Wire

WASHINGTON –Three Class I railroads, the BNSF Railway Co., the Norfolk Southern Railway Co., and the Soo Line Railroad Co. (a subsidiary of Canadian Pacific Railway Co., were revenue adequate for 2006. All other Class I freight railroads were found to be revenue inadequate for that year. The Surface Transportation Board made its determinations of revenue adequacy for the seven Class I freight railroads (the Nation’s largest) for 2006. A railroad is considered to be revenue adequate if it achieves a rate of return on net investment (ROI) equal to at least the current cost of capital (i.e., the cost

CP Trains Across North America Pause for Day of Mourning

April 26, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific employees will pause to honor workers who have perished or have been injured in the workplace at 11 a.m. local time on Monday, April 28, the designated International Day of Mourning. “Each year we remember those employees who have lost their lives or suffered injury in occupational incidents in an effort to continuously strengthen our focus on workplace safety,” said Executive Vice-President and Chief Operating Officer Kathryn McQuade. “Safety is our number one priority.” Trains across Canadian Pacific’s 13,500-mile North American rail network, locomotives in CP yards and terminals, and crane operators in intermodal terminals will

Canadian Pacific Announces First-Quarter 2008 Results

April 22, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway Limited announced its first-quarter results, and net income in the first quarter was $91 million, a decrease of 29 per cent from $129 million in 2007, and diluted earnings per share was $0.59, a decrease of $0.23 from $0.82 in the first quarter of 2007. Diluted earnings per share, excluding the effects of foreign exchange gains and losses on long-term debt and other specified items, decreased $0.03 as there was a favourable change in provincial tax rates which partially offset the impacts of severe winter operating conditions and the increase in fuel costs. However, foreign

Second Railroad Joins FRA “Close Call” Risk Reduction Pilot Program

April 3, 2008 Railfanning.org News Wire

WASHINGTON — A second railroad is now participating in a major federal rail safety pilot program designed to allow employees the ability to voluntarily and anonymously report “close call” incidents that could have resulted in an accident but did not, announced Federal Railroad Administrator Joseph H. Boardman. “This risk-reduction program provides an indispensable opportunity to analyze ‘close-call’ events to help identify and correct potential safety problems across the industry,” said Boardman, adding that the pilot program is a key element of his agency’s National Rail Safety Action Plan. Under a waiver granted by the Federal Railroad Administration (FRA), the Canadian

Teamsters Canada Rail Conference and Canadian Pacific Reach Revised Contract Settlement for Train Operations Employees

December 6, 2007 Railfanning.org News Wire

CALGARY — The Teamsters Canada Rail Conference (TCRC), representing 4,500 locomotive engineers and conductors, and Canadian Pacific yesterday (Dec. 5) reached a revised tentative five-year contract settlement. The Memorandum of Settlement will now be sent to the union membership for ratification, which is expected to conclude within the next eight weeks. Details of the tentative agreement will be released following ratification of the agreement by union members. — PRNewswire-FirstCall

Canadian Pacific, Mayo Clinic Commit to Ongoing Dialogue

November 27, 2007 Railfanning.org News Wire

ROCHESTER, Minn. — Canadian Pacific and the Mayo Clinic, on behalf of Rochester residents, have conducted their first face-to-face meeting, and officials said they made a commitment to continue their dialogue following the railroad’s recent acquisition of the Dakota, Minnesota, and Eastern Railroad (DM&E). “We had a very open and constructive dialogue and we left with a mutual understanding of each others needs and concerns,” said Glenn Forbes, CEO of the Mayo Clinic. “We both expressed a strong and firm commitment to work collaboratively, both together and with the community of Rochester, to ensure the highest degree of safety moving

Canadian Pacific Completes Acquisition of DM&E Railroad

October 4, 2007 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway Limited has completed the transaction to acquire Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries (DM&E). The agreement was previously announced on Sep. 4, 2007. The transaction is subject to review and approval by the U.S. Surface Transportation Board (STB), pending which the shares of DM&E have been placed into an independent voting trust. The voting trust is required by US law so that CP does not exercise control over DM&E prior to approval of the transaction by the STB. CP announced that Mr. Richard Hamlin has been appointed as the trustee during the