Group —
I chatted with Kevin Schieffer, president and CEO of DM&E and IC&E, this morning. I’ve written up an article for the Wire with some choice excerpts — have a look! More to come in the December news section.
Andy Cummings
Associate Editor
Trains Magazine
Waukesha, Wis.
I’m looking forward to this. Reading what was in the wire made me hungry for more. [tup]
Will Mr. Schieffer be staying on after the CP takeover? or is he going on to greener pastures?
Is it just a coincidence that the deal was announced while 2816 is creating a positive image for CP in the Midwest ?
Convicted One, what do you think ?
AAAAAAAAAAAAAAAWWWWWWWWWWWW! Dale!
There you go, being suspicious[%-)]–
Surely,not Canadian Pacific[C):-)]; they would not stoop to such a blatant and flagrant opportunity for some shamless self-promotion, and lots of print and TV coverage[swg]?
After all, we know how well it helps Union Pacific’s publicity recognition!
I think that the deal is a good one for all parties, so any such pony show would be a needless waste of time.
For those of us who are a little slow on the uptake: what is “the Wire”? Is it the newsletter?
Chris
Nevermind… found it
Chris the newswire on the homepage. You can see it when you first log in.
Well looks like the red motors of Canada are coming back. No surprise here. CP was going to exercise its 49% in the ownership of the IC&E lines. So why not just toss in the DM&E as well.
Hate to say this but never would have happened had the CP not sold off the old Milwaukee Corn lines and KC main to the IMRL to bleed dry.
CP made a HUGE mistake (IMHO anyway) when they sold the “Kansas City Corn Lines” back in 1997. While they did get new locomotives and upgrades of the current system, the sale cost CP a vital link to the Kansas City gateway. But I think the new brass now in place at CP I think “get it”; i.e., they had to make this move or else they risk never being able to expand the current network for growth opportunities. Unlike the old fuddy duds under the Ritchie regime that let rival CN encircle CP like an octupus; I think Fred Green does have a vision for the future and this transaction not only puts CPRS back at the Kansas City gateway but also in a position to make the expansion into the PRB which was the real crown jewel in this all along.
Route Rock —
CPR does not own any portion of IC&E. They had a 1/3 stake in I&M Rail Link, but DM&E bought them out along with Washington Group in 2002.
Andy Cummings
Associate Editor
Trains Magazine
Waukesha, Wis.