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Stock Market & Financial Investment News

News Breaks
March 22, 2014
19:44 EDTCNICanadian National offers union 'opportunity' to settlement through negotiation
CN said it is offering the Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons one last opportunity to reach a contract settlement through negotiation on the condition the union agrees upfront to binding arbitration if the talks fail. The TCRC-CTY represents approximately 3,000 CN train conductors, trainpersons, yardpersons and traffic coordinators on CN's network in Canada. Senior CN officers are prepared to meet immediately with the union's bargaining committee, enlisting the assistance of federal mediators if necessary, to break the impasse with the TCRC-CTY. Unfortunately, the union has yet to accept the company's March 20 offer of binding arbitration to settle outstanding contractual issues. Claude Mongeau, CN president and CEO, said: "CN's extensive, good-faith bargaining with the TCRC-CTY throughout the fall of 2013 produced a progressive agreement to address the union's concerns about work-life balance and help the company improve service and efficiency. "After that agreement failed to ratify in January 2014, CN resumed negotiations with the union and secured a second tentative agreement against the backdrop of a union strike notice. This second tentative agreement narrowly failed ratification this week by a margin of less than 40 votes. "CN is willing to go back to the bargaining table with TCRC-CTY one last time to achieve a fair settlement. But we can only do that if the union commits upfront to binding arbitration in the event our negotiations fail. In the current circumstances, we must move forward with an approach that will provide certainty of outcome for our employees, customers and other stakeholders." CN is asking the TCRC-CTY to respond to its final bargaining offer by tomorrow, March 22, at the latest.
News For CNI From The Last 14 Days
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September 26, 2014
12:06 EDTCNICanadian National sees frac-sand franchise generating C$300M in 2014
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September 24, 2014
14:02 EDTCNICanadian National sells rail line to Metrolinx for C$76M
Canadian National announced the purchase by Metrolinx of a segment of Canadian National rail line principally used by GO Transit commuter trains in the Georgetown-Kitchener, Ont., area west of Toronto for C$76M. Metrolinx is acquiring the segment of Canadian National's Guelph Subdivision from a point west of Main Street in Georgetown to a location near Park Street in Kitchener. Canadian National will retain freight operating rights over the line segment sold to Metrolinx.
September 22, 2014
07:25 EDTCNICitigroup to hold a conference
Industrials Conference to be held in Boston on September 22-24.
September 18, 2014
07:22 EDTCNICanadian National fined for missing grain quota, Globe and Mail reports
The Canadian government is imposing its first monetary penalty under the recently passed Fair Rail for Grain Farmers Act, fining Canadian National Railway for failing to move its required minimum amount of grain each week, said The Globe and Mail, which noted that a CN spokesman said the company had not been informed by the government about the fine. Reference Link

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