Interesting point about Canadian Law you bring up here. Isn’t it currently against Canadian Law for any investor outside the country to acquire a controlling interest in CN or CP and thats the reason the mergers and acquisitions are always structured so that CN or CP is the controlling party? I think I read that somewhere or was told it a while back.
GE and/or CN may have some emission credits from somewhere else that they can use toward additional Tier-3 units.
No idea about CP, but as far as I know they are just like any other private enterprise.
There were several conditions imposed on the 1995 privatization of CN, including that the legal name must remain “Canadian National Railway Company”, the headquarters must remain in Montreal, the company comply with Canadian language laws, and no one shareholder could own more than 15% of the company (Bill C-49 just increased that to 25%).
Last I checked Bill Gates was right up against the then-15% limit.
I think your right CN might be exempt because itself was privatized after the robber barron era was over.
So I am in the same position basically I know it is the case with one but possibly not the other. So maybe it is CP that has the provision. It was something like 3/4 of Parliament has to approve or some other restriction and it was passed a long time ago…I think the intent was to keep the railroad out of JP Morgans hands or some other rail barron because the Canadian government had money invested or land grants or something to that effect. Provision still holds today. I can’t remember it exactly though what I was told.
Well, if no one shareholder can own more than 25% of CN, that pretty well locks out any of the five Class 1 US railroads buying CN. It pretty much locks out any US railroad including Genessee & Wyoming, or Watco, etc., from buying it or controlling it.
UP owns something like 25%-26% of Ferromex, but that doesn’t give it control of Ferromex.
More units are starting to show up on the property:
http://www.railpictures.ca/?attachment_id=33971
Leasers are still running rampant, for now.
That CN paint scheme is very classy. The timeless “noodle” logo, the red front with the white band looks great on both wide cabs and standard cabs, and some black to harken back to the days of steam. All that and about the closest thing one can get to a Warbonnet in this day and age! Very classy indeed!
The “wet noodle” design dates from about 1962 and is distinctive at the very least. The color layout is not that different from NdeM (orange and Pullman green) and is hardly comparable to the red and stainless steel of the ATSF Warbonnet design. For “classy”, consider Erie’s two-tone green passenger colors, especially on an ALCO PA.
I know, but I still think CN’s paint scheme is classy!