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Post Info TOPIC: Still holding on...
Uke


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...ta my last few (200) shares of CP. This afternoon's close of NYSE saw the price at $85 and change in US Dollars. Hillybilly Harrison says CP has too many terminals...and wants ta cut 'em down by 20-25%. Nobody who's in the know at CP has a clue what he's talkin' about!

Like his pal Mitt, he seems ta have a plan, but won't say what exactly the plan is. Maybe CP oughta bring back Fred Green, and run it like a railroad eh?

 

Canadian Pacific Gains as New CEO Stands by Cost Target

Canadian Pacific Railway Ltd. (CP) surged after William Ackmans choice as chief executive officer reiterated a plan to transform North Americas least-efficient major carrier into one of the regions most profitable.

Operating ratio, a measure of expenses against revenue, will be cut to about 65 percent in four years, CEO Hunter Harrison said on a call after the railroad Canadian Pacific posted second-quarter profit that beat analysts estimates. The first-quarter average for peer railroads was 73.9 percent, data compiled by Bloomberg show.

 
  
  
  
 

Changes may include a reduction in terminals and a capacity cut of 20 percent to 25 percent in the locomotive fleet over four years, Harrison, the former head of competitor Canadian National Railway Co. (CNR), said in a telephone interview today. Canadian Pacifics second-quarter ratio was 82.5 percent.

Terminals have historically with railroads been huge cost centers and they were developed when the mix of business was totally different than it is today, Harrison said. He said the carrier has far too many terminals, without saying what he considered to be an appropriate total.

Canadian Pacifics network includes 19 rail yards and 15 so-called intermodal terminals, which handle containers that can move by a combination of train, truck and ship, according to the railroads website.

Canadian Pacific rose 5.3 percent to C$78.97 at the close in Toronto. The shares had previously climbed 22 percent from Oct. 27, the day before Ackman disclosed a stake that made his Pershing Square Capital Management LP the largest investor.

Rail Strike

Second-quarter profit, excluding costs such as the management change and a revised tax rate, was 90 cents a share, compared with the 85-cent average of estimates compiled by Bloomberg. A nine-day strike in May reduced earnings by about 25 cents to 30 cents a share, Canadian Pacific said.

The quarters operating ratio set a benchmark for Harrison, 67, as he pursues a turnaround like the one he led at larger competitor Canadian National. The bigger carrier reported a ratio of 66.2 percent in the first quarter, the lowest of North Americas large railroads.

A lot of this is going to require change, Harrison said in the interview. And there are a lot of us that dont like change. Theres going to be people that resist, that push back, that maybe leave the organization, so the challenge is to keep the team together as much as we possibly can.

Harrison was appointed June 29, a little more than a month after Ackman won a proxy fight clearing the way for a new CEO.

Net Income

Excluding proxy battle costs and the effect of the strike, the railroad posted a quarter that was well above our expectations, Walter Spracklin, an RBC Capital Markets analyst in Toronto, said in a telephone interview. The core business is running much better than anticipated and that is what people are going to focus in on when they trade the stock today.

Net income fell 24 percent to C$103 million ($101 million), or 60 cents a share, from C$128 million, or 75 cents, a year earlier, the company said in the statement. Revenue rose 8 percent to C$1.37 billion.

One of Harrisons first tasks is union negotiations. The Teamsters Canada Rail Conference, which represents more than 4,000 engineers, conductors and rail-traffic controllers, went on strike in May after contract talks that began in October stalled over the companys pension pla



-- Edited by Uke on Wednesday 15th of August 2012 07:09:43 AM

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Purveyor of Positive Attitudes

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Those poor fuckers...

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Force Majeure

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Uke wrote:

... my last few nad changes...


 Zeb Atlas sports granite and thinks Fuck Uke is a kinky stud muffin when writes about his nad changes....



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Uke


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Grate. Juts what I need ta hear! Yeah, been having a few more brian farts than ever before. Chalk it up ta serious

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Hunter has started changing the CPR already,
-has closed yards in Ontario, along with 2 smaller can terminals
-gotten rid of no getting on and off moving equipment, max 4 mph no, apparently there is no evidence the previous policy stopped or prevented injuries
-trains leave on time, irregardless if they are fully built or not
-yard speed is up to 20mph

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Force Majeure

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Next step -- deferred maintenance and hazmat spills. The fucker should be serving a life sentence for murder and environmental crimes for what he did on CN.

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Uke


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Hillbilly's popular in Canada because he IS a job creator! The Canadian Transportation Ministry loves ta hear what he has ta say...

In spite of his 'trim the fat' at CP, he says they've freed up money ta hire. Right. Gonna put thousands ta work. Good railroad jobs.

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Purveyor of Positive Attitudes

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Uke wrote:

Hillbilly's popular in Canada because he IS a job creator! The Canadian Transportation Ministry loves ta hear what he has ta say...

In spite of his 'trim the fat' at CP, he says they've freed up money ta hire. Right. Gonna put thousands ta work. Good railroad jobs.


 Oh yeah, he's a big hit up there in the great white north.  All of those "Fuck you Hunter, I hope you die a horrible prolonged agonizing death" shithouse writings (some in french) must be from down here in the great 48.  And the canadiens just LOVE EHH's fairhaired boy Keith Creel with his "snow niggers" comment.  Yeah, his shithouse rantings must also be from south of the border.



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