1)
Canadian Pacific Railway Ltd. has failed in its attempt to block a court settlement that could pay millions of dollars in compensation to families of the victims of the 2013 Lac-Mégantic oil-train disaster.
Quebec Superior Court Justice Gaétan Dumas rejected CP’s challenge of the settlement in a decision released on Monday, saying the process can go ahead. CP had argued that the court had no jurisdiction over the settlement, which was proposed under bankruptcy proceedings for the Montreal, Maine and Atlantic Railway Ltd., which was responsible for the explosion....
In his ruling, the judge said CP should have raised its arguments over the past two years, after the rail company sought bankruptcy protection.
“Where was CP during all of these processes?†the ruling asks in French, calling CP’s move a “disguised appeal†made “two years too late.â€
Where was CP? I could answer that!!! verbally and financially"Beating up on" and pushing back prairie farmers and the CDN gov. for providing substandard grain service, could be one answer!!!
2)
It would appear CP has NOT learned the lesson of the "2013 Lac-Mégantic oil-train disaster."
"“It seems like it’s a ‘work now and grieve later’ situation in terms of a rule and regulation, and that’s alarming to me,†said Doug Finnson
The president of the union that represents rail workers is alarmed by allegations in court documents that a CP Rail manager may have ordered a conductor to breach safety directives and park a train carrying dangerous goods in the mountains of British Columbia without hand brakes – directives introduced after the Lac-Mégantic rail disaster.
A search warrant filed in the Provincial Court of Alberta by Transport Canada alleges Canadian Pacific Railway Ltd. superintendent Mark Jackson ordered conductor Stefaney Pacey to leave 57 cars unattended near Revelstoke, B.C., without first applying the hand brakes. Transport Canada started looking into the incident after Ms. Pacey sent an e-mail about the order to her union, the documents say.
None of the allegations have been proved in court, and charges have not been laid. The search warrant was filed by Robert W. Blair, a Transport Canada public officer.
“It seems like it’s a ‘work now and grieve later’ situation in terms of a rule and regulation, and that’s alarming to me,†said Doug Finnson, the president of Teamsters Canada Rail Conference, the union that represents CP workers. “It’s particularly alarming given a train in the mountains. It’s not like it’s in Moose Jaw, Sask.,†he said.
News of the investigation comes on the eve of the two-year anniversary of the Lac-Mégantic disaster – the oil train explosion that levelled much of the Quebec town and killed 47 people – and months after Transport Minister Lisa Raitt issued emergency rules, including new requirements for hand brakes."Published: June 22nd 2015
Source: KAT SIENIUC - The Globe and Mail
3)
Corporate Governance problems...
Bloomberg
9:19 AM, E.T. | July 21, 2015
Industrials
Tags: CP Rail
Follow this
CDN PAC RAILWY
"The chairman and another board member at Canadian Pacific Railway Ltd. (CP.TO) have quit as directors after a dispute over corporate governance.
CP president Keith Creel revealed the board spat during a conference call with analysts Tuesday, but he would not go into details. He said the two tendered their resignations “over disagreements related to corporate governance matters.†The remaining board members are “united,†he added.
Earlier in the day, the company had announced that board chair Gary Colter and director Krystyna Hoeg had resigned, and another board member, Andrew Reardon, was named as the new chairman.
On the conference call, Mr. Reardon said the company has a “very engaged and a very passionate kind of a board. I cannot speak to the details of the issue, but I can assure you that our board remains united and committed to serving in the best interests of our shareholders.â€
The issue “which was purely a matter of board governance†is “definitely behind us,†he said. No further board changes are expected, he said.
Mr. Reardon was the chairman of the board finance committee before moving into the board chairmanship.
CP spokesman Martin Cej would not provide any more details, saying only that, “It was an internal disagreement and will remain internal.â€
CP’s chief executive officer Hunter Harrison did not participate in the second quarter conference call, as he usually does, because he is recovering from “minor maintenance procedures to his lower extremities,†Mr. Creel said. The recovery has been slower than hoped, Mr. Creel said, and Mr. Harrison “didn’t exactly follow the doctor’s orders,†which impeded his recovery. Now the doctors have insisted on no work or travel.
Mr. Creel said he wants Mr. Harrison to “be gone as long as he needs to be.†He said that last week he was on the phone with Mr. Harrison for six hours and “he was roaring like a lion. His will and his drive and his tenacity has not been tempered a bit, but his body obviously has got to heal from the procedure that he went through. Contrary to his belief he is not Superman.â€
What a tangled web we weave!!!
Canadian Pacific Railway Ltd. has failed in its attempt to block a court settlement that could pay millions of dollars in compensation to families of the victims of the 2013 Lac-Mégantic oil-train disaster.
Quebec Superior Court Justice Gaétan Dumas rejected CP’s challenge of the settlement in a decision released on Monday, saying the process can go ahead. CP had argued that the court had no jurisdiction over the settlement, which was proposed under bankruptcy proceedings for the Montreal, Maine and Atlantic Railway Ltd., which was responsible for the explosion....
In his ruling, the judge said CP should have raised its arguments over the past two years, after the rail company sought bankruptcy protection.
“Where was CP during all of these processes?†the ruling asks in French, calling CP’s move a “disguised appeal†made “two years too late.â€
Where was CP? I could answer that!!! verbally and financially"Beating up on" and pushing back prairie farmers and the CDN gov. for providing substandard grain service, could be one answer!!!
2)
It would appear CP has NOT learned the lesson of the "2013 Lac-Mégantic oil-train disaster."
"“It seems like it’s a ‘work now and grieve later’ situation in terms of a rule and regulation, and that’s alarming to me,†said Doug Finnson
The president of the union that represents rail workers is alarmed by allegations in court documents that a CP Rail manager may have ordered a conductor to breach safety directives and park a train carrying dangerous goods in the mountains of British Columbia without hand brakes – directives introduced after the Lac-Mégantic rail disaster.
A search warrant filed in the Provincial Court of Alberta by Transport Canada alleges Canadian Pacific Railway Ltd. superintendent Mark Jackson ordered conductor Stefaney Pacey to leave 57 cars unattended near Revelstoke, B.C., without first applying the hand brakes. Transport Canada started looking into the incident after Ms. Pacey sent an e-mail about the order to her union, the documents say.
None of the allegations have been proved in court, and charges have not been laid. The search warrant was filed by Robert W. Blair, a Transport Canada public officer.
“It seems like it’s a ‘work now and grieve later’ situation in terms of a rule and regulation, and that’s alarming to me,†said Doug Finnson, the president of Teamsters Canada Rail Conference, the union that represents CP workers. “It’s particularly alarming given a train in the mountains. It’s not like it’s in Moose Jaw, Sask.,†he said.
News of the investigation comes on the eve of the two-year anniversary of the Lac-Mégantic disaster – the oil train explosion that levelled much of the Quebec town and killed 47 people – and months after Transport Minister Lisa Raitt issued emergency rules, including new requirements for hand brakes."Published: June 22nd 2015
Source: KAT SIENIUC - The Globe and Mail
3)
Corporate Governance problems...
Bloomberg
9:19 AM, E.T. | July 21, 2015
Industrials
Tags: CP Rail
Follow this
CDN PAC RAILWY
"The chairman and another board member at Canadian Pacific Railway Ltd. (CP.TO) have quit as directors after a dispute over corporate governance.
CP president Keith Creel revealed the board spat during a conference call with analysts Tuesday, but he would not go into details. He said the two tendered their resignations “over disagreements related to corporate governance matters.†The remaining board members are “united,†he added.
Earlier in the day, the company had announced that board chair Gary Colter and director Krystyna Hoeg had resigned, and another board member, Andrew Reardon, was named as the new chairman.
On the conference call, Mr. Reardon said the company has a “very engaged and a very passionate kind of a board. I cannot speak to the details of the issue, but I can assure you that our board remains united and committed to serving in the best interests of our shareholders.â€
The issue “which was purely a matter of board governance†is “definitely behind us,†he said. No further board changes are expected, he said.
Mr. Reardon was the chairman of the board finance committee before moving into the board chairmanship.
CP spokesman Martin Cej would not provide any more details, saying only that, “It was an internal disagreement and will remain internal.â€
CP’s chief executive officer Hunter Harrison did not participate in the second quarter conference call, as he usually does, because he is recovering from “minor maintenance procedures to his lower extremities,†Mr. Creel said. The recovery has been slower than hoped, Mr. Creel said, and Mr. Harrison “didn’t exactly follow the doctor’s orders,†which impeded his recovery. Now the doctors have insisted on no work or travel.
Mr. Creel said he wants Mr. Harrison to “be gone as long as he needs to be.†He said that last week he was on the phone with Mr. Harrison for six hours and “he was roaring like a lion. His will and his drive and his tenacity has not been tempered a bit, but his body obviously has got to heal from the procedure that he went through. Contrary to his belief he is not Superman.â€
What a tangled web we weave!!!
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