Canadian Pacific (CP) Railway News

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Wednesday, September 5

• Canadian Pacific announces agreement to acquire DM&E Railroad (CP)
• Canadian Pacific expands into U.S. Midwest (MarketWatch)
• Locals view DM&E sale with cautious optimism (Post-Bulletin)
• Supporters and opponents of coal project welcome rail sale (AP)
• TCRC-RTE and Canadian Pacific reach tentative contract agreement (CP)

Wednesday, August 22

• Brookfield abandons plan to buy CPR (Globe and Mail)

Sunday, August 5

• Canadian Pacific launches process for sale of Windsor Station (CP)
• Canadian Pacific Railway Limited declares dividend (CP)
• CP signs agreements for capability upgrading in I.T. (CP)

Sunday, July 29

• Canadian Pacific announces strong second quarter results (CP)
• CP Rail sees no compelling case to split company (Reuters)

Sunday, July 22

• Canadian Pacific Says It Rejected Brookfield Inquiry Earlier This Year (AP)
• Rail suitor for Canadian Pacific said unlikely (Reuters)
• The lure of Canadian Pacific Railway? Asian trade (Globe and Mail)
• What became of Canadian Pacific spinoffs (Reuters)

Sunday, July 1

• Canadian Pacific believes CTA revenue cap maintenance estimate is overstated (CP)

Sunday, June 3

• Canadian Pacific seeks approvals to better service Alberta’s oil sands development (CP)
• Canadian Pacific may outsource major work during strike (Reuters)
• Canadian Pacific train derailment in New York causes scare (Press Republican)

Sunday, May 27

• Canadian Pacific's intermodal rail-truck container yard will be relocated (Edmonton Journal)

Sunday, May 13

• Canadian Pacific track workers to strike Wednesday (Reuters)

Sunday, May 6

• Deals for Many in 2002 Canadian Pacific Derailment Cases (AP)
• Canadian Pacific-Transport Canada complete negotiations on hopper car agreement (CP)
• Canadian Pacific subsidiary Soo Line reaches settlement with locomotive engineers (CP)
• Rail tax credit in US "national interest" says STB (Reuters)
• Buffett likes railroads, outlook not "sensational" (Reuters)

Sunday, April 29

• Canadian Pacific engineer died a hero in derailment, family says (Globe and Mail)
• Buyback may help Canadian Pacific avoid suitors (Toronto Star)
• Canadian Pacific’s first-quarter results solid despite tough winter conditions (CP)

Sunday, April 15

• Berkshire, BNSF's Biggest Investor, Buys Into 2 Other Railroads (AP)
• Buffett's Pricey Railroad Ride (Business Week)

Sunday, April 8

• Canadian Pacific Rail Maintenance Workers May Strike (Bloomberg)
• Canadian Pacific train derailment shakes up the 'Pass (Edmonton Sun)

Thursday, March 29

• Canadian Pacific Railway implements an increased share repurchase program (CP)

Sunday, March 25

• Canadian Pacific Reiterates 2007 Earnings Outlook, but Sees Soft First Quarter (AP)
• Attorneys say Canadian Pacific destroyed derailment documents (AP)

Sunday, March 4

• Canadian Pacific declares dividend and announces share repurchase (CP)

Sunday, February 18

• CP Rail declares force majeure at Vancouver port (Reuters)

Thursday, February 1

• Canadian Pacific announces strong results for 2006 (CP)
  2006 earnings and revenue rise 20% and 4%, respectively, as network fluidity improves.

Saturday, January 6

• CN and CP suffer stormy weather trials but volumes look to pick up (CBC)
  Canadian National and Canadian Pacific impacted by recent snows and mudslides.

Sunday, December 31

• CPR Holiday Train breaks three million dollars for food banks (CPR)
  Canadian Pacific's annual Holiday Train raised more than 300,000 pounds of food in '06.
• CN Rail, CP Rail both exceed grain revenue cap (Reuters)
  Canadian National and Canadian Pacific exceed revenue caps, owe government $4M.

Sunday, December 17

• CP will get millions in state aid for improvements (The Business Review)
  New York state funds new intermodal facility on the Delaware & Hudson.
• Canadian Pacific Railway announces 2007 planned capital investment (CP)
  CP increases capital spending 5% to $885-$895 million.

Thursday, November 30

• Entertainers on track to perform on the 2006 Holiday Train (CP)
  CP train features Tracey Brown, Kelly Prescott, Willy Porter, Pat Flynn, and others.
  For more information: Canadian Pacific Holiday Train
• CP predicts less-than-expected profits for 2007 (Ottawa Business Journal)
  Canadian Pacific expects profits to rise 9-13% in 2007, short of analyst estimates.

Monday, October 23

• Canadian Pacific announces lineup, schedule for U.S. Holiday Train shows (CP)
  CP's annual goodwill train to begin at Steamtown on December 1.

Sunday, October 1

• Train derailment causes brief evacuation in western Hennepin (AP)
  Twenty people evacuated following Canadian Pacific derailment in Independence, WI.
• Derailment Closes CP Line (CFRA)
  Canadian Pacific derails 16 cars near Cranbrook, British Columbia.

Saturday, September 23

• Vancouver port can handle Asian growth, says CP Rail (Reuters)
  Canadian Pacific's CEO says Vancouver port can support increased container volume.
• Royal Canadian Pacific receives worldwide recognition (CP)
  Canadian Pacific's luxury rail service wins at 2006 World Travel Awards.
• Bear killed by train (Rocky Mountain Outlook)
  Wildlife group says Canadian Pacific has improved efforts to keep grain off tracks.

Thursday, August 24

• Rarely-used rail lines added to CTA Three-Year Discontinuance Plan (CP)
  Canadian Pacific files to abandon six lines due to low traffic volumes.
• Derailment Victims Picket CP Headquarters (KX News)
  Three dozen Minot residents picket at Canadian Pacific over response to 2002 derailment.

Sunday, August 13

• CPR union warns of unsafe track as contract talks get underway (Canadian Press)
  Teamsters union says Canadian Pacific track conditions are unsafe.

Sunday, August 6

• Second derailment in week raises questions (Vancouver Sun)
  Transportation Safety Board investigating whether CP-CN agreement led to derailments.

Thursday, July 27

• Canadian Pacific Railway produces solid second quarter results (CP)
  CP reports two percent gain in revenue despite declines in coal and potash.

Tuesday, July 4

• Train derails in Elbow Lake (AP)
  Canadian Pacific train derails in west central Minnesota on Friday.
• Flooding derails freight traffic in Northeast (Press & Sun-Bulletin)
  Canadian Pacific and other northeastern railroads impacted by heavy rains.

Friday, June 9

• Train hauling coal derails in Frank (Crowsnest Pass Promoter)
  Canadian Pacific derailment 22 coal cars in Alberta.

Wednesday, May 31

• Canadian Pacific completes sale of Indiana line to Indiana Rail Road Co. (CP)
  CP sells 92.3-mile Latta Subdivision between Fayette and Bedford, Indiana.

Wednesday, May 10

• Fuel prices help CP (Canadian Press)
  Canadian Pacific CEO says high fuel prices encourage the use of rail over truck.

Sunday, April 30

• CPR on track for what could be stellar year (Globe and Mail)
  Asian trade, strong grain harvest, and operational improvements to boost Canadian Pacific.

Tuesday, April 25

• CPR’s first quarter earnings up thirty-eight per cent (CP)
  Canadian Pacific's earnings rise on a 10% revenue gain and improved operating ratio.

Friday, March 31

• CPR announces resignation of Chief Financial Officer (CP)
  Canadian Pacific CFO Michael Waites resigns from railroad.

Sunday, March 26

• E&N puzzle now complete (Esquimalt News)
  Vancouver Island nonprofit obtains E&N Railway from Canadian Pacific and RailAmerica.
• CP seeks new trial in jury cases (AP)
  Canadian Pacific asks that all cases from a 2002 derailment await an appeals court ruling.

Tuesday/Wednesday, March 7-8

• Freight train accidents soar (Toronto Star)
  Canada's Transportation Safety Board says rail accidents have risen each year since 2002.
• Suit stemming from N.D. derailment dismissed (AP)
  Federal judge dismisses class action lawsuit against Canadian Pacific for 2002 derailment.
• Canadian Pacific Railway confirms 2006 revenue guidance (CP)
  CP reaffirms 2006 revenue growth target of 5-8 percent over 2005.

Tuesday/Wednesday, February 28-March 1

• Rail line turned over to Island group (Parksville Qualicum News)
  Canadian Pacific donates $236 million Esquimalt and Nanaimo Rail Corridor.
• CPR awaits 'tough guy' at top (Globe and Mail)
  Canadian Pacific's new CEO is known for a no-nonsense decentralized strategy.

Thursday/Friday, February 23-24

• Ritchie retiring after 11 years at CPR helm (Globe and Mail)
  Canadian Pacific CEO Ritchie to retire; company veteran Fred Green taking over.
• Canadian Pacific seeks to throw out lawsuits in Minot case (AP)
  CP appeals judge's decision not to dismiss Minot derailment lawsuits.

Monday/Tuesday, February 20-21

• Quebec crews clean up after 2 train derailments (CBC)
  Full traffic has yet to be restored following CP and CN derailments this weekend.

Wednesday/Thursday, February 15-16

• Jurors award $1.86 million (Minot Daily News)
  Canadian Pacific to pay $1.86M to four people seeking damages from 2002 derailment.
• Railways signal banner year (Globe and Mail)
  Canadian Pacific and Canadian National see gains from surge in global trade with Asia.
• Canadian Pacific Railway celebrates 125th birthday (CPR)
  Railway’s original charter on display at Calgary’s Glenbow Museum.
• Canada's railways rolling to success (Toronto Star)
  Analysts say CP and CN valuations are high, but efficiency and productivity gains ahead.

Thursday/Friday, February 9-10

• CP rail accident in North Dakota shouldn't be 'lottery ticket' (AP)
  Canadian Pacific argues that Minot derailment claims are excessive.

Monday, February 6

• CPR sees rail mergers coming down track (Globe and Mail)
  Canadian Pacific CEO says booming Asian trade could result in North America mergers.
• Railroad renaissance? (Financial Post)
  Business at Canadian National and Canadian Pacific is surging, but for how long?

Thursday/Friday, February 2-3

• CP train carrying coal derails near Briscoe (Canadian Press)
  Canadian Pacific coal train derails in southeastern British Columbia.

Tuesday, January 31

• Canadian Pacific revenue growth propels earnings (CP)
  Earnings and revenue rise 45% and 14%, respectively, in fourth quarter.

Monday, January 30

• CP Rail is the only company left standing of former conglomerate CP Ltd. (CP)
  Canadian Pacific Railway remains, after all four others have been transformed or acquired.

Wednesday/Thursday, January 25-26

• CN, CP agree to handle each other's traffic to improve Port of Vancouver (CP)
  Cooperative agreement to ease bottlenecks at port.

Monday/Tuesday, January 23-24

• Jury Seated In Derailment Lawsuits In Minneapolis (AP)
  Jury to decide cases from Canadian Pacific's January 2002 derailment in Minot, ND.

Saturday/Sunday, January 21-22

• CPR signals switch in strategy to narrow competitive gap (Globe and Mail)
  Canadian Pacific seeks improved fluidity in competition with Canadian National.

Monday/Tuesday, January 16-17

• CP Rail cuts jobs to keep pace with CN (Globe and Mail)
  Canadian Pacific to cut 400 management and support jobs for productivity improvement.
• Country's railways on different tracks (Globe and Mail)
  Canadian Pacific seeks productivity improvements to compete with rival CN.

Monday, January 9

• Derailment suits are still in court (AP)
  Lawsuits continue over a 2002 Canadian Pacific derailment in Minot, North Dakota.

Friday, January 6

• Canadian railway agrees to lower radio towers in Adirondacks (AP)
  Canadian Pacific reduces height of planned towers due to environmental concerns.
• Record donations confirmed for 2005 CPR Holiday Train (CP)
  Canadian Pacific raises more than $500,000 and over 206 tons of food.

Thursday/Friday, December 29-30

• CPR announces planned 2006 capital investment (CP)
  Canadian Pacific to reduce capital spending in 2006.

Monday, December 19

• 2005 CPR Holiday Train wraps up very successful rolling fundraiser (CP)
  Canadian Pacific Holiday Train completes visits to more than 100 communities.

Tuesday, December 13

• 2005 CPR Holiday Train magic continues (CP)
  This year's holiday train has raised $230k and 50 tons of food to-date.

Monday, December 12

• Canadian Pacific reduces earnings forecast after Fording news (CP)
  CP trims earnings forecast with expectation of lower coal shipments.
• More than 1,000 turn out to see lighted Holiday Train (Winona Daily News)
  Canadian Pacific Holiday Train visits Winona as one of 100 stops.

Sunday, December 4

• CP Rail's Holiday Train lights up Fort Edward station (Post-Star)
  Canadian Pacific's sixth annual holiday train stops at Ford Edward, New York.

Sunday, November 20

• Volunteers make 2005 Holiday Train a reality for Canadian food banks (CP)
  Canadian Pacific's two holiday trains visit 100 communities in the US and Canada.
  For more information: 2005 Holiday Train Website

Saturday, November 19

• Fraser River Port Authority and Canadian Pacific Railway sign agreement
  Infrastructure investments designed to capture growth opportunities in global trade.
• Volunteers make 2005 Holiday Train a reality for Canadian food banks (CP)
  Canadian Pacific's two holiday trains visit 100 communities in the US and Canada.
  For more information: 2005 Holiday Train Website

Thursday, November 17

• Efficiency the fast track to profit, CPR says (Globe and Mail)
  Canadian Pacific expects 2006 profit up 18% through greater efficiency and Asian trade.

Wednesday, November 9

• Indiana Rail Road to Acquire Track (Inside Indiana Business)
  Railroad to acquire 92 miles of track between Fayette and Bedford from Canadian Pacific.

Thursday, November 3

• Canadian Holiday Train to feature something for the whole family (CPR)
  Canadian Pacific Holiday Train will visit dozens of communities in the US and Canada.

Wednesday, November 2

• CPR Announces Senior Executive Appointment (CP)
  CP appoints Fred Green, current Chief Operating Officer, to President.

Tuesday, October 25

• CPR produces solid earnings results in third-quarter 2005 (CP)
  Quarterly earnings per share rise 29%, revenues 12%, over last year.

Friday, October 21

• Communities in Canada and US to experience magic of CPR's Holiday Train
  Canadian Pacific's Holiday Train will visit more than 100 communities, raising money and food for local food banks and hosting a variety of performances.
• CPR supports federal government investment in Pacific Gateway (CP)
  CP says Canadian government announcement builds upon railway's expansion program.
• Train carrying dangerous chemicals derails (AP)
  No leaks discovered after Canadian Pacific derailment in Fort Edward NY rail yard.

Wednesday, October 19

• Third case settled before trial in 2002 Minot derailment (AP)
  First three lawsuits from Canadian Pacific derailment settled out of court.

Monday, October 17

• CN, CPR gravy train rolls along -- with caution (Globe and Mail)
  Analysts fear any slowdown in Asia's economy could cut into future profits.
• Another settlement reported in Minot derailment lawsuit (AP)
  Widow settles with Canadian Pacific over 2002 wrongful death lawsuit.

Wednesday, October 12

• Two trains derailed in separate accidents (Canadian Press)
  Canadian Pacific and Canadian National trains derailed in British Columbia Tuesday.
• Minot derailment lawsuits hitting the courts, three years later (AP)
  Pretrial motions scheduled this week after Canadian Pacific derailment and spill.

Monday, October 3

• CP will admit liability in derailment lawsuit (CBC)
  Canadian Pacific admits liability for death caused by anhydrous ammonia release in 2002.

Thursday, September 29

• CN rail accidents on rise (Globe and Mail)
  Transportation Safety Board says accident rates have been climbing at Canadian railways.

Tuesday, September 27

• Derailment heaves potash onto banks of Moyie River (Globe and Mail)
  CP Rail, Environment Ministry at odds over how much fertilizer was spilled.

Thursday, September 22

• International Brotherhood of Electrical Workers ratifies contract with CPR
  CPR now has collective agreements in place with all unionized employees in Canada.

Thursday, September 15

• Motorist killed, 14 cars jump tracks (London Free Press)
  Truck crashes into Canadian Pacific freight train in foggy conditions.

Saturday, September 3

• CPR Western Capacity Expansion Program on track (Canadian Pacific)
  Canadian Pacific's $160M Western Corridor Expansion Program is 70% complete.

Monday, August 15

• Canadian Pacific enjoys profitable 'sunshine' after years of cutbacks (CP)
  After years of belt-tightening and layoffs, CP is enjoying unprecedented good times.

Wednesday, August 10

• CP promises Wabuman would not happen here (Cochrane Times)
  Canadian Pacific says prevention would avoid an incident like CN's derailment in Alberta.

Friday/Saturday, July 29-30

• CPR to discontinue service from Morden to Killarney (CBC)
  Canadian Pacific wants to abandon two more of its low-volume branch lines in Manitoba.

Tuesday, July 26

• CPR boosts earnings per share 45% in 2nd quarter 2005 (CPR)
  Canadian Pacific Railway earnings jump, led by a 48% revenue increase in goal.

Friday, July 15

• Rail line to open today (Wahpeton Daily News)
  A Canadian Pacific route between Hankinson and Mantador reopens after derailment.
• CPR and International Brotherhood of Electrical Workers reach agreement
  CP and IBEW reach agreement on five-year contract with signal maintainers.

Monday, June 6

• CPR completes first project in Western Capacity Expansion Program (CPR)
  CP completes first of 25 projects under a $160-million program to increase capacity.

Wednesday, June 1

• CP brings wind power to the Prairies (CPR)
  Canadian Pacific signs transportation deal with Vestas Canadian Wind Technology.
• CP Rail to buy back 2.5M shares to help offset dilution from stock options (CBC)
  Canadian Pacific will buy back up to 1.6% of its common shares starting June 6.

Tuesday, May 31

• CP names Kamloops' interchange in honour of Chinese rail worker (CPR)
  Canadian Pacific interchange in Kamloops named in honor of railway laborer.

Friday, May 27

• Canadian Pacific's Ritchie Sees Rates Increasing (Bloomberg)
  CP's CEO expects to boost freight rates this year and next due to surging demand.
• Train cars slip off tracks near Bowden (CBC)
  Canadian Pacific freight derails between Calgary and Red Deer on Friday morning.
• Twin Cities police left out of loop about loose rail car (Star Tribune)
  Union Pacific railcar rolls nine miles near Twin Cities, hits Canadian Pacific locomotive.

Tuesday, May 17

• Recent deaths result in CPR Police launching education blitz (CP)
  CPR Police will target several rail crossings as part of a public awareness education blitz.

Monday, May 9

• Canadian Pacific shops Southern Indiana rail line (Business First of Louisville)
  CP is seeking a buyer of its 92-mile route between Terre Haute and Bedford, Indiana.

Friday, May 6

• Focus on Vancouver, CPR tells governments (Globe and Mail)
  Vancouver is on its way to becoming a mega-port to rival Hong Kong this decade, so long as Prince Rupert to the north does not stymie its expansion, says Canadian Pacific chief.

Thursday, May 5

• CP boss says West Coast ports expansion should focus on Vancouver (CBC)
  Vancouver should be given priority to create a "mega-port," despite Prince Rupert plans.
• Canadian Pacific ups quarterly dividend (MarketWatch)
  CP increased its quarterly dividend 13.2%, to 15 Canadian cents a share.
• Judge grants class action in Minot derailment lawsuit (AP)
  Class-action status granted to lawsuit against CP over a January 2002 derailment in Minot.

Monday, May 2

• Canadian Pacific Railway Exploring Opportunities for Southern Indiana Rail Line
  CP is examining third party interest in its 92-mile track from Fayette to Bedford, Indiana.

Saturday/Sunday, April 30/May 1

• CP's Nice Ride on the Rails (Motley Fool)
  Canadian Pacific's stock may be set to rise after a strong earnings report.

Friday, April 29

• CPR's profit triples; stock stalls (Globe and Mail)
  Canadian Pacific posted strong profits, but the stock stalled with most other transports.

Thursday, April 28

• CPR income more than triples in first-quarter 2005
  Canadian Pacific freight volumes reach first-quarter record in meeting growing demand.

Friday, April 22

• CPR showcases success in greenhouse gas reductions
  Canadian Pacific outlined measures to address climate change and greenhouse gas emissions.

Tuesday, April 19

• CP Rail Plots Expansion of Western Canada Network (Reuters)
  Canadian Pacific Railway will boost capacity by 12 percent with a C$160 million expansion.

Monday, April 18

• CPR begins capacity expansion in western Canada (CPR)
  Canadian Pacific begins $160 mln project to increase western Canada capacity by 12%.

Saturday, April 16

• Federal agency investigating Canadian Pacific Railway (AP)
  CP trains allegedly contained unlisted cars carrying hazardous materials, such as propane.

Friday, April 8

• Wall Street sees rail stocks still chugging ahead (Reuters)
  Railroad stocks still have steam left for further gains despite their recent run-up.

Tuesday, April 5

• Canadian Pacific Railway and Elk Valley Coal reach five-year agreement
  CP reaches a favorable pricing agreement and significantly raises 2005 earnings guidance.

Wednesday, March 30

• CP Rail to examine Transportation Act amendments (National Post)
  Railway says it will not spend planned $500-million if tracks are to be shared.