New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
April 21, 2015
19:12 EDTCNICanadian Pacific CEO says U.S. railways due for activist pressure, Reuters says
Subscribe for More Information
10:01 EDTCNIOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:56 EDTCNICanadian National downgraded to Hold from Buy at Desjardins
Subscribe for More Information
April 20, 2015
16:11 EDTCNICanadian National declares Q2 dividend of C$0.3125
Subscribe for More Information
16:09 EDTCNICanadian National raises FY15 CapEx view to C$2.7B from C$2.6B
Subscribe for More Information
16:08 EDTCNICanadian National sees 2015 carload growth of 3%
Subscribe for More Information
16:07 EDTCNICanadian National reports Q1 carloads up 9%
Subscribe for More Information
16:06 EDTCNICanadian National reports Q1 EPS C$0.86, consensus C$0.85
Subscribe for More Information
15:37 EDTCNINotable companies reporting after market close
Subscribe for More Information
13:29 EDTCNICanadian National technical comments before earnigns
Subscribe for More Information
April 16, 2015
18:20 EDTCNICanadian National locomotive engineers in Canada ratify new labour agreement
Subscribe for More Information
10:31 EDTCNICN announces multi-year C$500M investment to upgrade Western Canada feeder lines
CN announced a multi-year program to invest approximately C$500M in infrastructure improvements to its Western Canada feeder rail lines in Alberta, Manitoba, and Saskatchewan that are handling rising volumes of industrial products, natural resources, and energy-related commodities. In 2015, CN will allocate approximately C$100M for work on northern Alberta branch lines, investing in infrastructure upgrades and safety improvements, including heavier rail, crushed rock ballast and new ties, to ensure the network can efficiently accommodate future freight volume growth in the Peace River region. CN continues to see rising freight volumes in Western Canada, which have increased by more than 50% in the past five years. Given this growth, CN has also invested significantly in its Edmonton-Winnipeg main line corridor, installing sections of double track, extending sidings to accommodate longer more efficient trains, and improving major classification yards. CN's major investments in Western Canada are designed to increase the capacity and safety of its rail infrastructure and to allow the company to continue to grow at low incremental cost in support of Canada's trade.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use