For the last four months, the International Longshoreman and Warehouse Union has been involved in a “work slow-down”
to shake-down employers for higher wages. But with 29 West Coast ports handling 43.5% of U.S. containerized cargo
shipments and the movement of 12.5% of America’s GDP, a looming strike could cost billions of dollars per day and
severely hurt the U.S. economy.
The West Coast ports serve as the entry and exit for trade between the U.S. and Asia. Talks between the Pacific
Maritime Association (PMA), representing port management, and the International Longshore and Warehouse Union (ILWU)
officially broke down on Wednesday. Local sources indicate that the union will walk out within the week.
ILWU workers’ compensation package is believed to already be the most lucrative of any blue-collar in America. Full-time
workers working 2,000 hours per year earn an average of $142,000 annually in wages and a benefits package that costs
over $82,000 a worker. “Clerks” that work an average of 50 hours per week earn over $200,000. But “walking bosses,”
the equivalent of warehouse foremen, can earn over $300,000.
TORONTO, Feb 12 (Reuters) - A second union representing workers at Canadian Pacific Railway Ltd(CP) has given notice that it may go on strike just after midnight on Saturday.
Unifor, which has been in contract negotiations with CP Rail and represents about 1,800 maintenance and safety workers at the railway, said in a release that it gave notice late on Wednesday.
The Teamsters Canada Rail Conference, which represents engineers and conductors, gave notice on Tuesday that would strike just after midnight on Saturday unless it reaches a contract deal.
Why I think that putting all ofv my money in one rail stock is foolish.
What in the world are you talking about? It was big news on the Union Pacific conference call. The news over there was also about the Long Shore Men's slowdown and possible Long Shore Men's strike that will affect the whole west coast.
No railroad is over 5% of my portfolio. I bought GWR back in 2002 at $25 a share and sold off a large portion last year at over $100 a share in 2014 - it split 3 for one in that period. It was a 12 bagger.
I am looking for a boiler late statement that the Operating Ratio is a non-GAAP (General Accepted Accounting Practice) calculation and therefore will not equate to other railroads. . I can not find it in any recent annual report on the CP, CN or CSX. It is not in 8Ks, 6Ks or 10Ks. I found it in the 2011 CN Investor Fact book, but nothing more recent.
If I may interject. I am not a shareholder - I am a bond holder, have been for 10 years.
I just had a notice that WEN has been put on credit watch by S & P - they have not downgraded their credit, just made a warning that this is a possibility. I love the food, just trying for a stable income for my retirement years.
Something has to be done in the marketing of the stores, this company's revenue has now dropped 5 years in a row. This can not continue.
And the only railroad that it can be compared with is the OR of the CN. Theirs is 60.7% CP better put it in gear.
Here is another leading indicator - iron ore carloads up nearly 50% YTD , ferrous scrap down 7% YTD, metal products up 12% YTD and autos up 7% Year to date.
Granted, several steel mills are going to be closed for 60 to 90 days, but these are the mills involved in oilfield products, which I believe uses ferrous scrap while auto production use more ore.
Some of us own several railroad stocks. It is the best way to diversify across multiple industries. I have been doing well on a railroad serving the iron ore mines in Australia.
Railroads are cyclical. I do know railroads that are good granger lines, CP is not one.
Look at the carload reports, the last one for last year and for the second week of this year. If coal shipments are dropping the AAR does not know it.
Dirt - it is FLAT across Iowa and Nebraska with a gentle rise through most of Wyoming. I used to ride it from Denver to Laramie.
The only railroad that you can use for comparison to CSX is Norfolk Southern. Despite the problems the UP has getting through the Rockies, it has over a thousand miles of straight flat running and is significantly larger than the eastern railroads. CSX and NS are nearly the same size and similar running conditions. Both have much almost but not quite redundant track.
On the CSX map, plot the best route to move traffic from Nashville to Jacksonville. That is hard to do; there are 5 routes that are very similar.