The deal would see Norfolk Southern shareholders own a 41 per cent stake in the combined company which would be listed on both the New York and Toronto Stock Exchanges.
CALGARY — Canadian Pacific Railway says it has proposed a merger with U.S.-based Norfolk Southern Corp. to create a transcontinental railroad. The Calgary-based railway said the proposal includes a si...
MONTREAL — Canadian National Railway beat expectations as its net profit surged 18 per cent in the third quarter on higher revenues. The country's largest railway reported Tuesday that it earned more...
OTTAWA - The latest set of rail safety measures announced in the wake of the deadly Lac Megantic derailment of 2013 do not come with any additional financial resources for the federal regulator, Trans...
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Railways are transforming North America's energy sector and are, coincidentally, helping to save Canada's bacon. But the train business has been allowed to remain a 19th-century technology run with 19th-century mentality by workers without credentials. Aviation, by contrast, is heavily supervised and operated by licensed personnel with professional expertise and constant surveillance. For the moment, the critically important oil industry has been saved, but if governments aren't as tough as nails in their demands and dealings with the railways, then all bets are off.
Debating the best way to do something we shouldn't be doing in the first place is a sure way to end up in the wrong place. The recent spate of rail accidents and pipeline leaks and spills doesn't provide arguments for one or the other; instead, it indicates that rapidly increasing oil and gas development and shipping ever greater amounts, by any method
The Lac Megantic rail disaster is a terrible tragedy for the many who suffered loss. It is also an object lesson in why industries dominated by large corporations cannot be trusted to regulate themselves -- not even when there is nominal oversight by government. Corporations, when they grow large, go public, and take on professional management teams, devolve from being human institutions governed at least in part by genuine ethical constraints, into machine-like entities that are devoid of moral sensibility.
As governments here in Canada wrestle with the challenge of providing high-quality transportation infrastructure, they should increasingly consider public-private partnerships, or P3s. The record shows P3s are more likely to be built on time and on budget, and they offer greater value for money than conventional infrastructure projects.
At first glance, the Canadian Pacific Railway contract fiasco of the early 1870s is the granddaddy of all Canadian scandals. But only the tip of the iceberg has been recounted ad nauseam by historians. The real story is far more gripping, and is actually one of the more fascinating events in Canadian business and political history.