"The action by the company's board of directors is part of its planned succession process..."
Now I'm no lawyer, but the wording of that message ---- as meticulously parsed and constructed as such things are ---- sure doesn't sound very "mutual".
After a short, intense campaign of speaking out against mergers and affirming our eternal hope for a mid-60s OR, CSX is back to the tattered, dog-eared playbook of excuses for why we're going to 'disappoint' again this qtr...and maybe year. The latest excuse?.....errr reason? Lower CBR. Conveniently, another "not-in-our-control", global economy issue. Smooth.
It's truly a mystery how a company like CP, that is perceived as being nothing more than a pure play on the CBR business, can somehow retain its corporate credibility, minimize the frequency of unexpected 'reset' announcements to the market, and even keep analysts' expectations constructively favorable on the stock...while facing all the exact same, 'uncontrollable' facts.
That's the value of competent, shareholder-focused management.
Hunter just lit a fuse on a potential industry bomb.
Let's see if and when those "genius" research analysts to whom he just gave a insanely cryptic heads-up have the ability to figure out what he meant -- and which railroad he was referring to --- when he said "2 + 2 aren't adding up to 4".....
Of course, he probably doesn't know what he's talking about. You know...ol' blowhard, clueless Hunter who never gets anything right.
I wonder if anyone -- the government or the media or the industry associations or any lobby groups --- will figure out and report how many small businesses actually went under due to this latest port strike?
Best not to agitate the Teamsters, I guess. Just quietly bury the dead in unmarked graves, and praise the surly union workers for going back to work at all.
Edit: Turns out, the dude doesn't even have a garden plot there....he was just recruited by the neighborhood kum-by-yah singers as a media prop...a helpless human shield in front of the meanie bulldozer driver.
Nice, manipulative, pathetic friends, pal.
For the slow-witted (you know who you are):
When you don't even know which railway you're actually dealing with, you run a decent chance of going to the wrong website to find out the CEO's name.
But keep it up...you'll bring CN to its knees on this!
A wheechair-bound gardener in west Vancouver succeeded in delaying the continued tear-out of his squatter vegetable garden in the Arbutus corridor today, and even got the local TV coverage he dreamed of...
With great self-righteousness and high-handed sanctimony, he looked straight into the camera and questioned how not smart Claude Mongeau must be for not understanding the "bad PR" he was getting from all this.
BTW...if GoPro was offered a government-dictated market monopoly for about 70 years as the only camera provider for everyone, you'd have a comparison. But alas....
Seems like the public opinion on wheat --- more specifically the gluten within it ---- is akin to that of pure poison. Who knew?
Just wondering: As none of you saw fit to try and evolve your economy past being hewers of wood, drawers of water and growers of grain, how much taxpayer money are you going to incinerate to defend your most favored sector?
Far more importantly, as the market price of wheat slowly drops into the sewer as the anti-vaccine types abandon it in droves, how cheap are you going to dictate the railways charge for moving it? Are CP and CN going to end up paying farmers for the privilege?
Just a little while ago, Potash was the apple of the world's eye, and they were willing to pay a king's ransom to own it.
Canada's economy is now heading back into the commodity toilet it has occupied for the vast majority of the last 30 years, the C$ is head back to 65 cents US, and the Chinese know better than to ever dream of darkening the country's door with their investment money ever again.
Well done, Canuckistan! You dodged a bullet, and avoided a once-in-an-eternity chance to take a step beyond the "hewers of rocks and wood" to which you are self-relegated. Hooray!
Obama blocks Keystone, effectively bullying ineffective Canuck politicians, not only depriving them of the ribbon cutting on a major national infrastructure project, but making them look like hapless fools in the bargain.
So these same, sadsack Canadian politicians redirect their own ire onto Canadian railways, bullying them with outrageous penalties and requirements that have no basis in economic or safety realty whatsoever.
1) Western Canadian grain is magical, and must be prioritized as the most important cargo on Earth, deserving the most exceptional delivery times.
At least to tidewater. Where it can then sit for weeks. Whatever.
2) But you can't charge a shipping rate that reflects anything close to this "value". We'll also tell you what that number is.
3) And we will impose financial penalties on you if you don't move it fast enough, no matter what the reason....weather, port inefficiency, force majeure......whatever. We love the press we get on that.
4) As a common carrier, we require you to carry oil by rail....regardless of whatever objections you might have.....and let you swing in the wind when the ignorant public calls you "greedy SOBs chasing the almighty dollar" for simply complying with the law of the land.
5) And we want to move oil reeaaaaal slow, for improved safety ---- while moving that grain super fast. You go figure out the piddly details of doing that....
6) And now, because we don't like being caught with our regulatory oversight incompetence on display (ie. Lac Megantic), we are now creating a punitive slush fund to cover the costs of any future rail accidents. Then we can use the suckers' tax money for something lese we like. And score points with those dsame suckers for fleecling you.....win win.
The soviet system didn't die...it's making a stealthy comeback.
This collective of hypocrite shysters has now just instituted a mandatory "slush fund"" that CN and CP must pay into to act as a compensation pool to pay for any (!?) damages resulting from any (!?) future rail accidents. Which must be nice ---- knowing that, whatever comes up, you have this free pile of money you can simply confiscate and dole out to whoever wants some of it.
It must feel especially empowering to know that you, Canuck government boobs, as the authority that is staffed and paid very well to regulate and oversee the safe operation of the rail sector, and hasn't come even close to fulfilling that mandate for the past 20 years, can now relax and be even MORE incompetent. Relax, sit back and take it even easier (if that;s possible). Because there's a big pile of money to pay out for whatever incompetence or negligence you continue to exhibit (like Lac Megantic, for example).
I don't see conflict of interest in legally requiring that railways provide millions of dollars to a slush fund that implicitly facilitates, permits, and supports the government to become even more incompetent at their own jobs......do you?