PRTODAY / NewswireToday Free press release distribution service network

More news: Transportation
Written by / Agency / Source: Canadian Pacific Railway

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Canadian Pacific Files for Assistance of Federal Conciliator in Negotiations with TCRC - Legacy Pension issues must be addressed in new contract (TSX:CP)(NYSE:CP) -
Canadian Pacific Files for Assistance of Federal Conciliator in Negotiations with TCRC


NewswireToday - /newswire/ - Calgary, Alberta, United States, 2012/02/17 - Legacy Pension issues must be addressed in new contract (TSX:CP)(NYSE:CP) - TSX, NYSE: CP

Your Banner Ad Here instead - Showing along with ALL Articles covering Transportation Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Citing business imperatives as the reason to address the railway’s legacy pension, Canadian Pacific (TSX:CP)(NYSE:CP) today requested the Federal Minister of Labour appoint a conciliator to assist in progressing discussions on a new labour agreement with the union which represents the company’s Canadian train crew employees and rail traffic controllers.

“The legacy pension costs significantly impact CP’s operating ratio and our ability to further fund investments that will support growth opportunities for our customers,” said Canadian Pacific President & CEO Fred Green. “We’ve made changes to the management pension plan. The time to address this within our collective agreements is now.”

“These are difficult and complex issues for both parties. CP believes that expert, third-party support, with a focused time table, will offer the best opportunity to achieve a settlement.”

CP is seeking to achieve changes to legacy pension and post-retirement benefits to make them industry-comparable. CP has contributed $1.9 billion of solvency deficit contributions to its pension plan over the past three years.

“We have a number of proposed options for pension plan modifications, some of which align with the industry, all of which are fair to employees, and none of which have any impact on existing pensioners,” added Green.

Among the range of proposed amendments, some of the options provide guaranteed pension payment that is a multiple of average Canadian industrial pension payment and is comparable to what this union has already agreed to for the majority of its members at another major Canadian railway.

The company noted that its existing contract with the union, which represents 4,800 engineers, conductors and rail traffic controllers, expired on December 31, 2011. CP has been in negotiations since early October 2011 with the union on a number of topics ranging from wages to work rule changes and pensions, all intended to further drive service, productivity, and efficiency. No unions, including this one, are in a legal strike position.

The average conciliation process can last between 80 and 90 days.

Forward-looking information
This news release contains certain forward-looking statements relating but not limited to our operations, proposed investments, anticipated financial performance and business prospects. Undue reliance should not be placed on forward-looking information as actual results may differ materially.

By its nature, CP's forward-looking information involves numerous assumptions, inherent risks and uncertainties. Forward-looking statements are not guarantees of future performance. Factors that could affect forward-looking information include, but are not limited to: changes in business strategies; general North American and global economic, credit and business conditions; ; inflation; currency and interest rate fluctuations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; actions by regulators; potential increases in maintenance and operating costs; uncertainties of litigation; risks and liabilities arising from derailments; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; technological changes; and various events that could disrupt operations, including severe weather conditions, flooding, earthquakes, labour disputes, risks and liabilities arising from derailments as well as security threats and governmental response to them. Other risks are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CP's annual and interim reports, Annual Information Form and Form 40-F for a summary of major risks.

Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP ( is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency.

Investment Community
Janet Weiss
T: 403-319-3591 - E: investor[.]

Your Banner Ad Here instead - Showing along with ALL Articles covering Transportation Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Written by / Agency / Source: Canadian Pacific Railway


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick Newswire Today Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
  Your Banner Ad showing on ALL
Transportation articles,
CATCH Visitors via Your Competitors Announcements!

Canadian Pacific Files for Assistance of Federal Conciliator in Negotiations with TCRC

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Canadian Pacific |
Publisher Contact: Ed Greenberg - 
612-849-4717 ed_greenberg[.]
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Canadian Pacific Railway securities in any jurisdiction including any other companies listed or named in this release.

Transportation via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Articles From Canadian Pacific Railway / Company Profile

Read Transportation Most Recent Related Newswires:

Alstom Joins AEDIVE, The Spanish Association for the Development of Electric Transport
SITA Completes ISO Certification for Information Security At Changi Airport
Alstom Hands Over Five Prima H3 Locomotives to Deutsche Bahn
SITA Named Asia Pacific Airport IT Solutions Company of The Year
JetBlue Chooses SITA to Support Hundreds of Kiosks in 50+ Locations
Alstom Presents its Flagship Regional Train Coradia in Bucharest
Alstom, ACCIONA and Gulermak Sign A Contract with RTA for the Extension of Dubai Metro’s Red Line
Evolving Commuters’ Demands to Pave the Way for Novel Carsharing Business Models Finds Frost & Sullivan
The French Government and Alstom Present A Plan to Maintain the Railway and Industrial Activities on Belfort Site
Boston Airport Cab to Launch Limousine Services in Massachusetts
Alstom Delivers the First Cross-border Citadis Between Strasbourg and Kehl
Middle East Airlines Signs New Five-year Deal with SITA
Alstom Achieves A World First with Successful Test of ETCS Level 2 Baseline 3 Application in Denmark
GE Transportation Enables Digital Rail System from Locomotive to Train Yard
Volkswagen Truck & Bus Launches An Open Cloud-based 'Operating System' for the Entire Transportation Industry

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business


Visit  Demyk Lightmod Products, Inc.

Visit  La Bella Bakery Artisan Bakery Arizona

  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (