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.
October 21, 2014
16:25 EDTCNICanadian National announces new 28M share repurchase program
Subscribe for More Information
16:23 EDTCNICanadian National maintains FY14 outlook issued on July 21
Subscribe for More Information
16:22 EDTCNICanadian National reports Q3 carloads up 11%
Subscribe for More Information
16:21 EDTCNICanadian National reports Q3 EPS C$1.04, consensus C$1.05
Subscribe for More Information
16:15 EDTCNICanadian National announces new 28M share repurchase program
CN announced that its board has approved a new share repurchase program. CN believes that the repurchase of its shares represents an appropriate and beneficial use of the company's funds. CN's board authorized a new normal-course-issuer bid to purchase, for cancellation, up to 28M common shares, representing 3.9% of the 709.3M common shares issued and outstanding of the company not held by insiders on Oct. 15.
October 20, 2014
12:16 EDTCNICanadian Pacific still interested in consolidation, says UBS
Subscribe for More Information
October 15, 2014
13:15 EDTCNIRailroad stocks pressured after CSX CEO comments on industry consolidation
Subscribe for More Information
October 14, 2014
07:14 EDTCNIUBS hosts a Railroad analyst/industry conference call
Analyst Wadewitz will discuss his initiation of coverage of the Railroad Sector in a conference call on October 14 at 11 am.
October 13, 2014
16:17 EDTCNICanadian National initiated with a Neutral at UBS
10:53 EDTCNIRailroads advance after report of Canadian Pacific approach to CSX
Subscribe for More Information

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