CN Looks Forward to Engaging With Kansas City Southern to Finalize Definitive Merger Agreement apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
CP: ‘Bullish’ on 2021
CP: ‘Bullish’ on 2021 Written by Marybeth Luczak, Executive Editor
CP’s operating ratio, which included a $33 million expense related to the Kansas City Southern (KCS) acquisition, came in at 60.2% for the first three months of 2021. This is a 100 basis-point increase from 59.2% in the prior-year period. Adjusted, the first-quarter 2021 OR improved 70 basis points to 58.5%.
“The strong demand environment, particularly across bulk, merchandise and domestic intermodal, coupled with our commitment to the foundations of Precision Scheduled Railroading enabled our success in the first quarter,” Canadian Pacific (CP) President and CEO Keith Creel reported during the merger-bound railroad’s earnings announcement.
KCS: Jeff Songer, John Orr in New Strategic Roles
Jeff Songer (left) and John Orr
Kansas City Southern (KCS), now in the midst of a merger with Canadian Pacific, has bolstered its executive leadership team with two strategic appointments: Jeffrey M. Songer in the new role of Executive Vice President-Strategic Merger Planning, and John F. Orr as Executive Vice President-Operations.
Songer, formerly Executive Vice President and Chief Operating Officer and a 16-year KCS veteran, will now be primarily focused on managing the
Canadian Pacific (CP)-KCS merger application process, which includes developing a joint network-wide operating plan; safety integration plan; environmental impact statement and environmental assessment; and labor impact plan, among other duties.
Union Pacific closing East Texas repair facility, eliminating up to 57 jobs
The closing is part of the railroad’s continuous improvement program.
The city of Palestine and Anderson County have been involved in a legal battle with Union Pacific.
By Tribune News Service
Union Pacific Railroad met with Palestine staff Thursday and told them they have 60 days until the Palestine Car Facility closes June 14, according to longtime employee Brad Henry.
Henry said the employees were asked to a meeting with UP management at the Hilton Hotel in Palestine. They were given notice and then told they could take the rest of the day off and report back to work Monday, April 19.
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