Canadian Pacific

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Canadian Pacific

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
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Canadian Pacific

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
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Canadian Pacific

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
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Canadian Pacific

Labor Agreement Ratified between CPR and United Steelworkers

September 24, 2006 Railfanning.org News Wire
CALGARY, Alberta – Canadian Pacific Railway and its clerical and intermodal workers, represented by the United Steelworkers (USW), have ratified a collective agreement. The three-year agreement extends to the end of 2009. It provides improvements for wages and benefits. In addition, a number of work-life balance provisions have been implemented, which are designed to improve retention of current employees and to make the various positions more attractive for people looking for a career in the rail industry. “We are pleased with this settlement and believe it provides value for both our employees and our company as a whole,” said CPR
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BNSF

STB Releases Fall Peak Service Plans

July 26, 2006 Railfanning.org News Wire
WASHINGTON — The Surface Transportation Board has released letters from Class I railroads outlining their “peak season” service plans. In June, Chairman W. Douglas Buttrey sent letters to the chief executive officers of the seven largest railroads and to the American Short Line and Regional Railroad Association (ASLRRA), asking the railroads to inform the STB of their plans to ascertain the demand for, and to prepare for, the provision of peak-season service; their performance goals for the remainder of 2006 and their plans for achieving those goals; and their plans to communicate their service goals and plans with customers. In
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Canadian Pacific

Canadian Pacific Railway names Kamloops’ interchange in honor of Chinese rail worker

May 27, 2005 Railfanning.org News Wire
KAMLOOPS, British Columbia –  In a ceremony highlighted by a Lion Dance that symbolizes good luck and good blessings, Canadian Pacific Railway named a railway interchange in Kamloops in honor of Cheng Ging Butt, a railway laborer who represented the dedication of those who came forward to work on the CPR transcontinental line in the British Columbia interior, the company announced. Thousands of Chinese railway workers helped build the Canadian Pacific Railway from the West Coast to Eagle Pass in the Monashee Mountains of Western Canada and many perished. "Cheng Ging Butt is representative of the extraordinary people who withstood