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Tony Ingram resigns from Canadian Pacific board of directors
Ingram is a major loss to CP. He brought with him a wealth of railroading knowledge.
The writing on the walls at CP’s corporate offices isn’t looking very good. Canadians are going to be sorry that shareholders, many probably not even Canadian, voted in Ackman and his crew of “chop em up and sell em off” cronies. Of course he’ll make money for the shareholders.
Given Ackman’s “success” in destroying JC Penny, I have little hope for CP.
Let’s pray that Ackman and his handpicked board will perform responsibly to the benefit of all concerned. Just maybe they will do what is right to make the CP a strong unified player in the US and Canadian areas it presently serves.
I always fear the slash and burn crowd of hedge fund operators but occasionaly a good one comes along. Lets give them six months and then see what is going on to base a judgement call.
Bye bye CP, you were one awesome railroad. I hope everyone enjoyed Ackman’s smear campaign against CP and Fred Green, but of course when you have vast sums of money. That will carry your lies everywhere.
ackman and his pack won’t be happy until Canada’s oldest railroad is dismantled. too bad for shareholders,but,you believed his B.S… now you get to live with it.
GO CN, stick it to ol’ HH, when all the pieces fall apart you can jump in and buy up the pieces for a song.
Starting to sound like a sinking ship.
Ackman is just another slash & burn corporate raider with no interest in running a railroad to serve freight shippers. He will pocket big bucks and canadian businesses will suffer. The Canadian government should have blocked this takeover.
Ingram and Harrison would be at loggerheads, so I am sure he decided that life would be more reasonable if he wasn’t on the CP. Harrison will do what he and his team want to do.
I’m thinking the ex-Milwaukee Road lines in southern MN (DM&E) and northern/eastern Iowa (IC&E) probably will be on the block. And chance Kevin Schieffer would want to put together a new ownership group and get those lines back?
The former Dakota, Minnesota, & Eastern lines in Minnesota were not ex-Milwaukee Road, but rather Chicago & NorthWestern until purchase of the line and equipment in 1986 and formation of the DM&E. CPRail purchased DM&E and sister railroad Iowa, Chicago, and Eastern in 2008.
I foresee only bad things happening to the CP/DME/ICE rail lines at the hands of Ackman’s HOSTILE takeover!