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Green defends Canadian Pacific acquisition of DM&E
Under Green, CP has become a wooden-axle outfit with lots of junk power so old it has almost no resale value (that’s why they’re hiring EMD scabs in Indiana to rebuild it). While multiple trainloads of containers and trailers stream east and west on CN’s Montreal-Toronto route daily, CP’s ill-conceived “Expressway” train runs half-empty on a deteriorating single-track route. Time for Green to go.
One bad thing about the deal is DM&E’s plans to extend into the Powder River Basin apparently have been shelved by CP.
Ethanol is dead, Mr. Green. Should’a said something about the Williston/Bakken oilfields. Where did this Ackman come from? I’ll have to check him out. Sounds like a typical corporate raider. Shalom.
The description of Expressway as “ill-conceived” is somewhat ill-considered. Expressway has the potential to deliver a lot of revenue, but its main failing is poor handling, and until recently, underpowering. There still doesn’t seem to be any expectation of RTCs to actually keep these trains moving. The uninspired leadership at CP resulted in cutting one train a day each way, when two slightly shorter, well powered trains would generate plenty of revenue and attract some of the customers lost to the poor performance. As for Fred Green, whatever his failings, real or perceived, his condescending attitude toward employees has alienated him to nearly everyone with the possible exception of some of the “old boys” in senior management.
Keep up the pressure Fred, These yahoos who comment are just shooting off their mouth just to be heard, they probably do not hold any CP stock. As for me I like our CP stock performance, keep up the GOOD work
As alway Fred is behind, playing catch up. Ethanol old news move on, what about the Williston/Bakken oilfields? Seeing,watching, and working for the CPR work for 2 years (after buying the DM&E), they have no plan, out dated ways, there are slow, behind everyother railroad. The whole CPR mess has no “team” feel. And that starts at the TOP! Good luck Freddy in your next job.
Just to give Mr. Green the benefit of the doubt, perhaps one reason he didn’t mention the North Dakota oil fields is that DM&E (which this story was about), doesn’t serve the oil fields. It is in South Dakota. They aren’t the same state, folks.