BLET News

September 22, 2021 — The Rail Unions comprising the Coordinated Bargaining Coalition (CBC), negotiating together in the current round of National Negotiations, have issued the following statement: “As we advised in January of 2021, the CBC and the nation’s rail carriers have been at the bargaining table since the beginning of 2020. Since January, CBC…

(Source: BNN Bloomberg, September 21, 2021) NEW YORK — BMO Capital Markets is downgrading its view on Canadian National Railway Co. with its analyst saying the railroad operator’s strategic plan announced last week may fall short of tapping into the company’s full potential. Full story: BNN Bloomberg Tuesday, September 21, 2021

(Source: Railway Age, September 21, 2021) NEW YORK — A few days after throwing in the towel on its attempted merger with Kansas City Southern, and facing a board and management reorganization forced by activist investor and “beneficial owner” TCI Fund Management Ltd., CN on Sept. 17 announced its “Full Speed Ahead – Redefining Railroading”…

(Source: Railway Age, September 17, 2021) NEW YORK — “I am elated for our CP family,” an understandably energized Canadian Pacific President and CEO Keith Creel told Railway Age Editor-in-Chief William C. Vantuono the day after a joint call with analysts with his Kansas City Southern counterpart, Pat Ottensmeyer, following the announcement of their agreement…

(Source: Associated Press, September 17, 2021) OMAHA, Neb. — As Union Pacific’s CEO, Lance Fritz has had to find ways to keep the freight moving during the coronavirus pandemic as the economy nearly ground to a halt and then roared back to life. Now he is working to help clear up a major backlog in…