After months of taking a beating from the Surface Transportation Board on it’s proposed merger with Kansas City Southern, along with a salvo of criticism and expression of interest in achieving a controlling interest in the railroad by TCI, a hedge fund based in the United Kingdom, Canadian National’s board of directors fired back today with a strongly-worded letter to shareholders and the investment community.
CN announced on October 19 that Jean-Jacques (JJ) Ruest will retire as president and chief executive officer and as a member of the Board of Directors of the Company, effective as of the end of January 2022, or such later time as a successor has been appointed to ensure a flawless transition.
Canadian National has joined the ranks of other companies that require employees to be vaccinated against COVID-19.
Investigators are trying to figure out what happened when two trains collided in Prescott, Ontario, on Sept. 2.
The process of Ring Road in Regina, Saskatchewan, Canada, becoming a clear road when it comes to railroad tracks has been a long one.
Two notices in the Federal Register last week announce that Canadian National and CSX both petitioned the Federal Railroad Administration (FRA) in July for the extension of previous approval that allows both railroads to temporarily suspend some visual track inspections.
The wildfire challenges in British Columbia continue to be major headaches for CN and CP, and are having an economic impact due to the resulting backlog of traffic at the Port of Vancouver.
The cause of the wildfire in Lytton, British Columbia is now under investigation.
CP and CN operations must shut down near Lytton for 48 hours.
A Canadian community, Canadian Pacific and Canadian National are dealing with a mess.
CN continued announcements this week with capex plans for its lines in British Columbia (C$460 million) and Saskatchewan (C$120 million).
Canadian National continues to provide detail on capex spending.
Canadian National has announced more capital spending on the roadway.
Canadian National announced capital investments of C$350 million in Ontario and C$95 million in Manitoba.
MidRail LLC Chairman Gil Lamphere offers his views on the competition between Canadian Pacific and CN to acquire Kansas City Southern, discussing the details of voting trusts and the role of the Surface Transportation Board, and other railroad merger-related issues, with Railway Age Editor-in-Chief William C. Vantuono.
A Canadian National train derailment in Pesotum, Ill., has taken up to 48 hours to clear, and damage to the track could take weeks to repair.
One month after Canadian Pacific and Kansas City Southern announced their intent to merge into CPKC (Canadian Pacific Kansas City), CN made a counter-offer it said is a “superior proposal” that “will result in a safer, faster, cleaner and stronger railway.”
CN and Watco announced that they have reached an agreement for the sale of non-core lines and assets.
Canadian National [announced today] that its diluted earnings per share (EPS) grew 17 per cent, and 14 per cent on an adjusted basis in the fourth quarter, while free cash flow for
Update on 11/18/2020 RT&S ran this story one week ago today, which was Veterans Day in the U.S. and Remembrance Day in Canada. Since then, we’ve learned that the American Short Line