Friday, August 16, 2013

Canadian Pacific US holdings poised for freefall

When it rains, it pours.
Canadian Pacific railroad has furloughed approximately 30 workers in recent months from its operation in Thief River Falls, according to union officials. The job cuts are among roughly 90 furloughs at CP sites across Minnesota that the United Transportation Union has counted since October 2012, part of what the union says are aggressive job cuts that followed leadership changes in the company at that time. [Christopher Bjorke, Grand Forks Herald]
From Progressive Railroading:
The Quebec government on Wednesday announced it added Canadian Pacific to the list of companies provincial officials believe are responsible for millions of dollars in cleanup costs associated with the July 6 Montreal, Maine & Atlantic Railway Ltd. (MMA) derailment in Lac-M├ęgantic, which caused about 1.5 million gallons of crude oil to spill from damaged tank cars.
The news comes on the heels of announcements about Canadian Pacific's failings from South Dakota's earth hater governor.

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