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Canadian Pacific responds to Moorman
Do I hear a violin playing the same old flat tune in Calgary?
I have to agree with CP on this. Maintaining the status quo is old school and outdated. It’s a generational thing and the new generation needs to wake up and take the helm.
A primary reason for the NS fluidity problems in 2013 is the grade crossing of the NS and Metro at Engelwood. This problem has now been corrected, thanks at least in part to the management team of Wick Moorman to contribute their share of the cost for the Engelwood flyover. It would be interesting to know if Harriman would have agreed to spend the money to fix this problem.
This is all about CP’s bottom line. Nothing more, nothing less.
If you want to destroy NS and seriously damage eastern railroads, just let CP in…remember Penn Central, it didn’t work because of incompatible business models. The only thing the NYC and PRR had in common was track gauge.
CP is right that the status quo is unacceptable, assuming traffic levels return and resume increasing. However, while CP has shared a few specifics, they haven’t said enough to convince me that they have a solid plan to resolve the issue.
CP needs to back off, eh. NS said no and Moorman’s interview with Trains was spot on.
Go back to the pond Beavers!!!
Blah, blah, blah, blah ba blah…same song as before.
CP’s change in working capital?
@ Mr, Harris and Mr. Rowell
,
Maintaining the status quo is the acceptable way to go in this economical period of time !
Change for the sake of changing is not usually the common sense way to go
. It’s not a " generational thing " at all , and the only people who need " to wake up " and GIVE UP the helm are EHH and Mr. Ackman !!!
If Mr. Harrison has “5 decades” in railroading, why can’t he make his own RR better, without shouting that he needs someone else? Don’t demand that someone else should fix your own misfortunes. If you knew how to run a RR, or any company, properly, there is no reason to shout that “You have to help me.” You asked, and were answered, more than once, by many more than the N.S. Your only thought is to $ signs, in your own pockets, with no regards on how this would affect RR traffic, and especially customers of all concerned. Maybe it would fix one bottleneck, but would create much more confusion & congestion.
Stephen K. Holte, it’s not about CPs bottom line, it’s about Harrison’s ego. And the blather about fixing congestion in Chicago is irrelevant nonsense. If there is a problem in Chicago the proposed merger is neither a necessary nor a sufficient condition for resolving it.
As a stockholder (guess which company), I cannot understand how this merger will benefit my company or ME.
Under Canadian law, this will be a Canadian company. This is just another attempt at reconciling Mr.Hunter’s delusions of grandeur. This is the same canard he was trying to pass with the failed CN/BNSF merger. In a sudden burst of enlightenment, the STB was able to see through the "smoke and mirrors’ of Mr.Hunter’s little play that time. From a labor standpoint, this would be a situation of Canadian crews grabbing prime jobs in the border terminals from the NS guys. Under Canadian labor law,the situation is NOT reciprocal as a non-Canadian is unable to take a vacant job if there is a Canadian qualified for it.
Wick Moorman’s approach is not so much maintaining the status quo as it is fine-tuning operations where so needed. What is NOT needed for NS is the draconian measures which have beset IC, CN, and now CP under Harrison’s tenure. As Mr. Moorman pointed out, NS and CP have two very different traffic bases, areas of operations, and operating philosphies; EHH’s claim to being able to sideline 40% of the NS locomotive fleet would be Step 1 to a total service meltdown, and it would be downhill from there. This CP response to Mr. Moorman is jsut the same old fiddle tune which is not selling to anybody in this country.
When Harrison was at Canadian National (Canadien National), he merged the Wisconsin Central; Bessemer & Lake Erie; Duluth, Missabe & Iron Range and Elgin, Joliet & Eastern! NOW, he’s at Canadian Pacific and wants Norfolk Southern! IF (and that’s a BIG if) merger happens, NS should relinquish there portion of the former Conrail lines, INCLUDING Horseshoe Curve! CSX and / or BNSF should allowed take over those lines and keep them from his grubby, greedy, monopolistic hands! All he cares about is MONEY and having the largest Railroad, not SAFETY or preserving competition. If I were a major shareholder with CP, his butt would have been out the door.
I Implore our US Class 1s and Canadian National -------- SPLIT CANADIAN PACIFIC (and Union Pacific)! Create 4 new Railroads from the double split. The More (Class 1) Railroads, More Competition! The Fewer (Class 1) Railroads, The Road to Monopoly!
It must also be noted that Wick Moorman’s “status quo” comment was in the context of buying out or merging with a smaller railroad, not in regards to improving operations. But NS - along with everyone else except CP - is content with the system of Class 1’s as we have had since 1999 and earlier. Another example of CP’s spin doctors working overtime to make their case look good.
Congratulations! Hunter Harrison wins the “PENN CENTRAL AWARD” for having a BIG ego AND for bad management of a Class 1! Actually, he won “THE STUPIDITY AWARD”, too! He must NOT have remembered what happened to the Union Pacific after they merged with Southern Pacific AND Chicago & Northwestern, they had ALL kinds of problems: a la Penn Central! NS-CSXT’s Conrail split went a lot smoother.
If you ask me, I think Harrison is some kind of a NUT! He needs to step down and have his head examined!