This Day On The Street
Continue to site
ADVERTISEMENT
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

Canadian Pacific Comments On Decision Of Federal Labour Arbitrator

CP also announces ratification of IBEW agreement

CALGARY, Dec. 19, 2012 /PRNewswire/ - Canadian Pacific (TSX:CP)(NYSE:CP) said today it is pleased the collective bargaining process with the Teamsters Canada Rail Conference, on behalf of Running Trade Employees, and Rail Traffic Controllers has finally concluded and an agreement is now in place.

CP has received the award of federally-appointed arbitrator, William Kaplan.

The award contains, among other changes a cap on pension growth and a new pension accrual rate for future hires. The deal is three years in length and is retroactive to January 2012.

"Mr. Kaplan had an extremely difficult job. He was thoughtful and sought at all times to close the gap between the parties. CP is appreciative of his efforts," said Peter Edwards, vice president of Human Resources.

IBEW Ratification

CP is also pleased to announce the five-year agreement reached with the International Brotherhood of Electrical Workers on November 15, 2012 has been ratified with 94% acceptance.

This contract begins January 1, 2013.

"I am pleased we were able to reach another agreement with a key union and we are looking forward to working with the IBEW," said E. Hunter Harrison, president and CE0. "With our labour situation settled, CP is in very good position to continue the work of being an even more reliable and efficient railway for our customers."

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

SOURCE Canadian Pacific

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs