CP rail strike, unions and mgmnt

[Hopperbin]

Ackman runs Pershing Square as an "activist" hedge fund, meaning he invests in very few companies and plans to "actively" change them from the inside, by getting a seat or seats on the company's board of directors

Seems this is what he does and is good at it. So things should get interesting.

[Hopperbin]

I suppose Ackman is not good at everything.

Pershing Square IV was established to bet solely on the rise of the stock of Target Corporation. The fund fell nearly 90% in 2008 and Ackman apologized for the losses.[8] The fund subsequently rebounded. Ackman claimed in a February 2009 letter to investors, “Bottom line, PSIV has been one of the greatest disappointments of my career to date

His stock fell 90 percent but Target only dropped just over 50 percent. Thinking he pocketted some cash somewhere. I cannot find Pershing Square iv today. Or Pershing Square on the stock market.

[Hopperbin]

Ackman's Pershing Square Capital Management (PSCM) has in the recent past acquired positions in Wendy's International Inc., McDonald's Corporation, J.C. Penney, General Growth Properties, Borders Group, Fortune Brands, Ceridian Corp and Alexander & Baldwin., pressuring the management of those companies to improve profits by selling either real estate assets or corporate divisions. The investment company in turn benefits when the asset liquidation returns capital in the form of dividends and a higher share price, whereby Pershing divests itself of its holdings at a higher share price. In the case of Wendy's International, Wendy's management bought back shares following the forced sale of the their subsidiary Tim Hortons through an IPO, while Pershing unloaded most of its own shares

[Hopperbin]

Hunter Harrison

Born in Tennessee, he began as a carman-oiler at the St. Louis-San Francisco Railway in Memphis, Tennessee in 1964. [1] He furthered his learning in the railroad business by first being promoted to an operator for that company and, later, with Burlington Northern Railroad (BN) as they bought Frisco's company in 1980. Before leaving BN, he became the company's vice-president for transportation and services design.[2]

First promoted to the role of president of CN on December 13, 2002, he was later promoted to CN's CEO position on January 1, 2003. He had previously served as president of Illinois Central Railroad from 1993 until that railroad's acquisition by CN in 1998; at that time, he was named CN's executive vice president and chief operating officer. Industry trade journal Railway Age named Harrison its Railroader of the Year for 2002.[3]

On November 30, 2006, CN's Board of Directors voted to extend Harrison's contract as CEO for one year, setting the new employment contract expiration date as December 31, 2009.[4] CN announced on April 29, 2009, the company's plan for succession in Harrison's position; he would be succeeded by Claude Mongeau effective January 1, 2010.[5]

Mr. Harrison was approached to take over as chief executive Canadian Pacific Railway Ltd. by activist investor Bill Ackman


Bill Ackman stated on Squack box this morning that they intend to sit at the table to negotiate with the union, that the head of the union phoned Bill personally and gave him credit for the first 2 minutes of time because it was more time than he spent negotiating with the old CEO over a 6 year time span.

Hard to believe

[Hopperbin]

Just noticed with Ackman's medling in JCPenny JCP sales have dropped to over half billion less than the lowest point in past 10 years as he is trying to transform the companies immage to the consumer. Got balls but I think he is playing with other peoples money.

[Hopperbin]

Like a monopoly game with control of cp. and a few other railroads can increase fees and revenues. Then the guy with green and blue properties on the last street can buy you out in the end cause there is always some one bigger and they got you by the balls. 2 rounds later your completely out of money and no property left.

[Hopperbin]

Now if the union were going back to work without the gov't legislation I would be impressed. Don't see that.

[Hopperbin]

One hour ago, CP repeats call for Teamsters to allow operating employees back to work.

CALGARY, May 29, 2012 /PRNewswire/ - As was stated Sunday, May 27, 2012, before Teamsters Canada Rail Conference (TCRC) withdrew from federally mediated discussions, Canadian Pacific (TSX:CP)(NYSE:CP) requested the union to re-enter discussions to allow their members, CP employees, to return to work and stop the damage the union is unnecessarily causing to CP customers' businesses and employment levels. CP is again repeating that request to the Teamsters today.

"Since negotiations began in October 2011, CP has made multiple reasonable and good faith offers to the Teamsters on various items such as pensions, health spending accounts, a 48-hour rest provision and other fatigue management counter measures that add to and complement many existing regulatory and negotiated provisions. These and other work rule proposals offered by the company exceed those that the Teamsters have in place with other North American railways," said CP VP Human Resources & Industrial Relations Peter Edwards.

"While the Teamsters refused numerous requests from CP and the government for alternatives to achieve a negotiated settlement, CP agreed to each, including options for extension of talks and voluntary arbitration," said Edwards. "The Teamsters pushed their members into an unnecessary work stoppage and have, throughout the negotiations, refused to minimize the impact on other affected CP employees, our customers, and the Canadian economy."

Edwards said: "As we proposed to the union Sunday, Canadian Pacific calls on the Teamsters to allow our operating employees to return to work without delay and restore service to our heavily impacted customers. We consciously engaged in good faith bargaining throughout the process, and we will do so again once the union allows employees to return to work."

[bucket]

In a fragile economy and many people looking for work, as harsh as this sounds, replace them with people that actually want to work.

I believe unions have their place, but when you are putting the company you work for in jeopardy of making money or the country as a whole, you have to give your head a shake. The next owners of CP rail maybe the chinese who may have a little different way of running it which may include cheaper labour. Not saying it will happen, but some folks ought to realize how lucky they are to have a job given the world economy.

[cottonpicken]

Thats becoming the point bucket,the scary point,we
can't have trade of products without trade of
lifestyle,the implications are endless,equilibrium will
be achieved.