Canadian Pacific – Page 13

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

Canadian Pacific Announces Agreement to Acquire DM&E Railroad

September 4, 2007 Railfanning.org News Wire

CALGARY– Canadian Pacific Railway Limited said it has reached an agreement to acquire the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries (DM&E) for $1.48 billion. With this value-enhancing transaction, Canadian Pacific expands its current network by approximately 2,500 miles and increases its access to U.S. Midwest markets including agri-products, coal and ethanol. The deal consists of a $1.48 billion cash payment at closing and future contingent payments of up to approximately $1 billion. Future contingent payments of $350 million will become due if construction starts on the Powder River Basin expansion project prior to December 31, 2025. Further

TCRC-MWED and Canadian Pacific reach tentative contract agreement for maintenance of way workers

June 6, 2007 Railfanning.org News Wire

OTTAWA — The Teamsters Canada Rail Conference – Maintenance of Way Employees Division (TCRC-MWED) and Canadian Pacific reached a tentative three-year contract settlement. The agreement follows a national strike which began on May 15th. Workers could be back in their positions over the next few days. The Memorandum of Settlement will be sent to the union membership for ratification over the next few days. TCRC-MWED represents 3,200 maintenance of way workers — PRNewswire-FirstCall

Canadian Pacific Railway announces 2007 planned capital investment

December 17, 2006 Railfanning.org News Wire

CALGARY – Canadian Pacific Railway plans to spend $885 million to $895 million in 2007 on capital programs.This is an increase from its 2006 program of roughly $845 million. “CPR’s planned capital investments are targeted at further improving the fluidity of our network, while maintaining the reliability and safety of our infrastructure,” said Fred Green, President and Chief Executive Officer. “These investments support our strategic initiatives, our focus on execution excellence and drive to improve CPR’s operating ratio. This capital plan, implemented with the ingenuity of our employees, will keep us on track to become the safest, most fluid railway