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December 4, 2012
17:02 EDTCPCanadian Pacific outlines plans for efficiency increases, business growth
Canadian Pacific CEO Hunter Harrison outlined various plans CP will execute to continue to improve service reliability, increase the railway's efficiency, and grow the business. Key highlights include: reduce roughly 4,500 employee and/or contractor positions by 2016 - through job reductions, natural attrition and fewer contractors. We have already made progress on this front and expect 1,700 positions to be eliminated by year end; new longer sidings program will improve asset utilization and increase train length and velocity - The plan will allow CP to move the same or increased volumes with fewer trains, and is expected to save over 14,500, or 4%, crew starts; explore options to maximize full value of existing and anticipated surplus real estate holdings; relocate CP's current corporate headquarters in downtown Calgary to new office space at CP-owned Ogden Yard by 2014; review options for the Delaware & Hudson in the U.S. Northeast, while maintaining options for continued growth in the energy business; announced earlier, CP is seeking expressions of interest on the 660-mile portion of the former Dakota, Minnesota & Eastern, west of Tracy, Minnesota.
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August 20, 2014
06:26 EDTCPU.S. regulators call meeting with BNSF, Canadian Pacific over delays, WSJ says
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August 14, 2014
17:02 EDTCPPershing Square gives quarterly update on stakes
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