Canadian Pacific Kansas City

Vote on insurgent effort at Norfolk Southern set for May 9

Norfolk Southern has set May 9 as the date for its annual meeting, when an insurgent campaign to put outside directors on the company’s board and a new CEO in place will come to a head.

The Class 1 railroad formally set the date in its proxy letter to shareholders, sent last week. The meeting will be virtual and can be streamed on the company’s website, though participation is limited to shareholders. It begins at 8:30 a.m. Eastern.

Amy Miles, Norfolk Southern’s (NYSE: NSC) board chair, is the...

https://www.freightwaves.com/news/vote-on-insurgent-effort-at-norfolk-southern-set-for-may-9

Teamsters Canada warns rail strike looms over pay, hours at CN, CPKC

The union representing almost 9,300 workers at Canada’s two biggest rail operators says the railroads are pushing toward a work stoppage after negotiations have deadlocked over issues of working conditions and wage increases.

“CN and CPKC aim to eliminate all safety-critical rest provisions from our collective agreements,” François Laporte, national president of Teamsters Canada, said in a news release on Monday. “These provisions are necessary to combat crew fatigue and ensure public safety. We...

https://www.freightwaves.com/news/teamsters-canada-warns-rail-strike-looms-over-pay-hours-at-cn-cpkc

Bison Transport partners with CPKC to provide international intermodal service

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With global shippers seeking more routing options, Bison Transport recently announced an agreement...

https://www.freightwaves.com/news/bison-transport-partners-with-cpkc-to-provide-international-intermodal-service

Mexico orders railroads to prioritize passenger train services over freight operations

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Mexico’s government issued a federal mandate this week forcing private railway companies operating...

https://www.freightwaves.com/news/mexico-orders-railroads-to-prioritize-passenger-train-services-over-freight-operations

Freight rail execs seeing some ‘green shoots’ for beleaguered sector

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New York — The RailTrends conference for 2023, last week’s gathering of many of the industry’s...

https://www.freightwaves.com/news/freight-rail-execs-seeing-some-green-shoots-for-beleaguered-sector

STB’s Oberman rips into Union Pacific CEO Vena

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NEW YORK — Martin Oberman, chairman of the Surface Transportation Board, had several complimentary...

https://www.freightwaves.com/news/stbs-oberman-rips-into-union-pacific-ceo-vena

Norfolk Southern wants close look at proposed CPKC-CSX Southeast corridor

Norfolk Southern wants the Surface Transportation Board to compel Canadian Pacific Kansas City and CSX to provide more information on how their plans to create a Mexico-U.S. Southeast corridor will affect passenger and other freight rail traffic — including the Meridian Speedway that NS operates with CPKC.

NS (NYSE: NSC) is asking STB to get CPKC (NYSE: CP) and CSX (NASDAQ: CSX) to consolidate seven applications into one, as well as require CPKC and CSX to provide more analysis on how their...

https://www.freightwaves.com/news/norfolk-southern-wants-close-look-at-proposed-cpkc-csx-southeast-corridor

CPKC cautious heading into 2024

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The uncertain macroeconomic environment, including when North American consumer sentiment will...

https://www.freightwaves.com/news/cpkc-cautious-heading-into-2024

Canadian Pacific Kansas City sees Q3 net income fall 12%

A 44% increase in revenue in the third quarter was not enough to offset higher expenses at Canadian Pacific Kansas City.

The railway reported net profit of CA$780 million (US$565 million) in the third quarter of 2023, down 12% year-over-year (y/y) from CA$891 million. Diluted earnings per share in the third quarter was US$0.84, compared with US$0.96 y/y. All figures except earnings per share are in Canadian dollars.

Overall revenue totaled CA$3.3 billion in the third quarter, compared with CA$2.3...

https://www.freightwaves.com/news/canadian-pacific-kansas-city-sees-q3-net-income-fall-12

CPKC and CSX file plans paving way to Mexico-Southeast corridor

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Class I railroads CSX and Canadian Pacific Kansas City (CPKC) have requested Surface Transportation...

https://www.freightwaves.com/news/cpkc-and-csx-file-plans-paving-way-to-mexico-southeast-corridor

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