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Daily Headlines
Senate takes another step towards keeping double 33-foot trailers off the road
(Source: International Brotherhood of Teamsters press release, November 19, 2015) WASHINGTON, D.C. — Lawmakers took another stand for highway safety yesterday when the Senate removed language from a spending bill that would force states to allow an increase in the...
NS takeover could double CP Rail’s debt load
(Source: Bloomberg, November 20, 2015) NEW YORK — Canadian Pacific Railway Ltd.’s debt load would surge to more than double the industry average if it succeeds with its $28 billion bid for Norfolk Southern Corp., a heavy burden even with the combined company’s...
Norfolk Southern investors can win even if a deal isn’t reached
(Source: Bloomberg, November 19, 2015) NEW YORK — Norfolk Southern Corp.’s investors can win even if Canadian Pacific Railway Ltd.’s $28 billion takeover offer fails. Full story: Bloomberg
Harrison says Canada not guaranteed to be HQ if CP merges with NS
(Source: Canadian Press, November 19, 2015) MONTREAL — North America’s largest railway may not be headquartered in Canada in the event of a merger between Canadian Pacific and Norfolk Southern, CP Rail chief executive Hunter Harrison said Thursday. Full story:...
CP’s Harrison offered NS’s Squires a position as CEO if he agreed to takeover proposal
(Source: Bloomberg, November 19, 2015) NEW YORK — Canadian Pacific Ltd. Chief Executive Officer Hunter Harrison said he offered his counterpart at Norfolk Southern Corp. a CEO position if he would agree to a takeover proposal. Full story: Bloomberg
The benefits and potential stumbling blocks of proposed CP-NS merger
(Source: Trefis Team, November 19, 2015) NEW YORK — In this article we will look at the benefits of a potential merger and the stumbling blocks that could prevent it from being realized. Full story: Forbes
CP says NS hasn’t been willing to discuss merger at length
(Source: Associated Press, November 19, 2015) NEW YORK — Canadian Pacific's chief executive said Thursday he remains optimistic about completing a merger with Norfolk Southern but executives at the Virginia-based railroad haven't been willing to discuss the idea at...
BNSF locomotive engineer walks away from career over safety concerns
(Source: Whitefish Pilot, November 18, 2015) WHITEFISH, Mont. — Gene McDaniel remembers the night vividly. Piloting a BNSF Railway freight train west through Idaho, he approaches a road intersection without crossing arms, he sees an SUV. He recognized fatigue was an...
Quebec pension fund to buy 30% stake in Bombardier rail unit for $1.5 billion
(Source: Reuters, November 19, 2015) MONTREAL/TORONTO — Bombardier Inc said on Thursday that Quebec's public pension fund manager is buying a 30 percent stake in its rail arm for $1.5 billion, putting the company on stronger financial footing as it pushes to launch...
Teamsters applaud Supreme Court’s refusal to hear Amerijet lawsuit
(Source: International Brotherhood of Teamsters press release, November 18, 2015) WASHINGTON, D.C. — The following is the official statement of Teamsters Airline Division Director Capt. David Bourne in response to the U.S. Supreme Court’s denial of a petition this...
