This Day On The Street
Continue to site
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

FPAC Applauds New Rail Bill As Critical But Recommends Changes To Ensure Success

OTTAWA, Feb. 26, 2013 /CNW/ - The Forest Products Association of Canada (FPAC) supports the intent of the Fair Rail Freight Service Act, Bill C-52, to enhance the effectiveness, efficiency and reliability of the rail system but it recommends changes to help reduce the regulatory burden and help the legislation reach its stated intent.

FPAC appeared today before the Standing Committee on Transport, Infrastructure and Communities that is studying the legislation.  The bill was brought in by the Government to level the playing field and address the imbalance in market power between shippers and the monopoly power of the railways.

"The bill is an important step forward in helping to ensure that rail shippers can deliver their goods in a timely, predictable and cost effective way to meet the needs of global customers be they in China, Europe or the United States," says the President and CEO of FPAC, David Lindsay. "However we want to make three recommendations that would improve the bill and help restore balance in the rail system."

FPAC recommends:
  • Remove all references to the word "operational" so that arbitrators would not have to sift through mountains of railway operational data. This would add costs and a burden that would diminish the power of the legislation.
  • Delete all reference to "statutory obligations to other shippers and third parties".  We do not believe it was the government's intent to have external and irrelevant information drawn into an arbitration over a very specific service failure between a shipper and railroad.
  • Insert a new stand-alone section to define "adequate and suitable accommodation" and "service obligations". Shippers and the railways have already agreed we must hold firm on what a service agreement should address.  Otherwise we risk diluting the legislation over time.

"We believe that if the committee approves these three adjustments to C-52, the legislation will better succeed in its intent and help Canadian companies secure their place as preferred suppliers to the world." says Lindsay. "That would help support 230,000 employees and the 200 rural communities that rely on the forest products sector."

1 of 2

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs