This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Rail Legislation Will Support Jobs, Growth And Prosperity Says Forest Industry

OTTAWA, Dec. 11, 2012 /CNW/ - The Forest Products Association of Canada (FPAC) believes that the new Fair Rail Freight Service Act is moving in the right direction to help shippers retain and create jobs for the benefit of the Canadian economy. The legislation was tabled after years of complaints by rail customers about inefficient and inadequate service from the railway monopoly.

"Ensuring a fair and balanced relationship between shippers and the railways will help the forest products industry retain and create jobs for the benefit of the entire Canadian economy," says the President and CEO of FPAC, David Lindsay.  "We give the proposed new legislation a passing mark."

FPAC is encouraged to see that many of their proposed remedies for leveling the playing field have been addressed.  This includes the right to a service level agreement, a dispute settlement mechanism and significant penalties for non-compliance.  The requirement for performance standards and a communication protocol are also welcomed.

However FPAC is disappointed that the legislative proposals will not cover existing confidential contracts, forcing companies to potentially wait for years before they can access the measures outlined in the legislation. There are concerns about implementation; for example the proposed remedy process requires further clarification.  FPAC also hopes the House will deal quickly with this legislation on an urgent basis.

"Forest companies are located in far flung rural communities and rely on a single means of transportation to get their goods to market. We have waited for a long time for the government to take action to level the playing field between shippers and the railways," says Lindsay.  "The proposed measures will go some way in helping to ensure that shippers can reliably serve their customers both national and internationally."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs