Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Pacific Railway Limited    CP   CA13645T1003

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Canadian Pac.Railway : Canadian Pacific comments on TCRC issuing a 72-Hour Strike Notice

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/20/2012 | 12:57am CEST

Canadian Pacific (TSX:CP)(NYSE:CP) today announced it has received 72-hour strike notice from the Teamsters Canada Rail Conference (TCRC), which represents 4,800 engineers, conductors and rail traffic controllers in Canada. 

While the parties continue to meet with the assistance of the Federal mediator and conciliator service, the 72-hour notice issued by the union means a work stoppage can occur as early as 0001 on May 23, 2012.

In the event there is a work stoppage, CP will proceed with a safe and structured shut down of its train operations in Canada.

"CP believes the offer it has presented the union is fair and reasonable.  We are willing to enter into binding arbitration or negotiation period extensions should an agreement not be reached at this stage," said Executive Vice President and Chief Operations Officer Mike Franczak. "This would ensure the continued operations of freight and commuter trains on CP's Canadian Network for the benefit of our customers, communities we serve and the economy at large. Any extension to the bargaining process requires consent of the union or action of the federal government."

CP, which contributed approximately $1.9 billion of solvency deficit contributions to its pension plan over the past three years, requires changes to legacy pension and post-retirement benefits to make them industry-comparable. Among the range of proposed amendments, some of the options provide guaranteed pension payment that is a multiple of average Canadian industrial pension payment and exceeds what this union has already agreed to for the majority of its members at another major Canadian railway.

"The offer on pension aligns with the industry and allows the railway to remain competitive as we invest in strategic infrastructure upgrades along our network," said Franczak.

Note on forward-looking information

This news release contains certain forward-looking statements relating but not limited to our operations, proposed investments, anticipated financial performance and business prospects. Undue reliance should not be placed on forward-looking information as actual results may differ materially.

By its nature, CP's forward-looking information involves numerous assumptions, inherent risks and uncertainties. Forward-looking statements are not guarantees of future performance. Factors that could affect forward-looking information include, but are not limited to: changes in business strategies; general North American and global economic, credit and business conditions; inflation; currency and interest rate fluctuations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; actions by regulators; potential increases in maintenance and operating costs; uncertainties of litigation; risks and liabilities arising from derailments; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; technological changes; and various events that could disrupt operations, including severe weather conditions, flooding, earthquakes, labour disputes, risks and liabilities arising from derailments as well as security threats and governmental response to them. Other risks are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CP's annual and interim reports, Annual Information Form and Form 40-F for a summary of major risks.

Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit cpr.ca and see how Canadian Pacific is Driving the Digital Railway.

Contacts:
Media
Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel: 403-319-3591
investor@cpr.ca

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CANADIAN PACIFIC RAILWAY L
09/23 CANADIAN PACIFIC RAILWAY LTD/CN : Other Events, Financial Statements and Exhibit..
09/19 CANADIAN PACIFIC RAILWAY : CP responds to TSB report on LVVR implementation, cal..
09/16 CANADIAN PACIFIC RAILWAY LTD/CN : Other Events, Financial Statements and Exhibit..
09/15 CANADIAN PACIFIC RAILWAY : Guido De Ciccio, Senior Vice-President, Operations We..
09/13 CANADIAN PACIFIC RAILWAY LTD/CN : Change in Directors or Principal Officers, Fin..
09/13 Tiffany & Co. hires former Canadian Pacific Railway chief financial officer
09/13DJTIFFANY : Names Mark Erceg CFO
09/12 CANADIAN PACIFIC RAILWAY : CP's interim Chief Financial Officer to address inves..
09/12 CANADIAN PACIFIC RAILWAY : CP International riders jump 8 clear rounds, raise $8..
09/08 CANADIAN PACIFIC RAILWAY : CP Chief Financial Officer Erceg to step down; Velani..
More news
Sector news : Ground Freight & Logistics - NEC
09/10 One Hanjin ship cleared to dock at U.S. port, others remain in limbo
09/10 One Hanjin ship cleared to dock at U.S. port, others remain in limbo
09/07DJCSX : Moderates Outlook for 2016 Coal Volume Declines
09/01DJAURIZON : Names Former Rio Tinto Executive Andrew Harding as CEO
09/01DJC H ROBINSON WORLDWIDE : .H. Robinson Buys AP Logistis for $225 Million to Expan..
More sector news : Ground Freight & Logistics - NEC
News from SeekingAlpha
11:07a Transports Week In Review - Downward GDP Revisions Continue To Place Pressure..
09/23 Norfolk Southern Dividend Stock Analysis 2016
09/21 Own This Dividend Stock Forever
09/19 The Big Comeback In Railroads
09/16 CANADIAN PACIFIC : Watch Out Below
Advertisement
Financials ( CAD)
Sales 2016 6 498 M
EBIT 2016 2 719 M
Net income 2016 1 757 M
Debt 2016 8 334 M
Yield 2016 0,93%
P/E ratio 2016 16,37
P/E ratio 2017 15,84
EV / Sales 2016 5,67x
EV / Sales 2017 5,43x
Capitalization 28 491 M
More Financials
Chart CANADIAN PACIFIC RAILWAY L
Duration : Period :
Canadian Pacific Railway L Technical Analysis Chart | CP | CA13645T1003 | 4-Traders
Full-screen chart
Technical analysis trends CANADIAN PACIFIC ...
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 209  CAD
Spread / Average Target 8,6%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
E. Hunter Harrison Chief Executive Officer & Director
Keith Edward Creel President, Chief Operating Officer & Director
Andrew Fitzpatrick Reardon Chairman
Nadeem Velani Chief Financial Officer & Vice President
Michael John Redeker Chief Information Officer & Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN PACIFIC RAILW..10.35%21 651
UNION PACIFIC CORPORAT..20.63%78 569
CANADIAN NATIONAL RAIL..10.88%49 580
CSX CORPORATION14.22%28 039
NORFOLK SOUTHERN CORP.10.68%27 482
C.H. ROBINSON WORLDWID..12.21%9 923
More Results