Rail industry fights to stay on track

Article Abstract:

Canadian railway industry is pressured to keep pace with the advances their US counterparts have achieved to be more competitive. Both the Canadian Pacific Railway Co. and the government-controlled Canadian National Railway Co. (CN) are reducing their work force in a bid to be more efficient and productive. In fact, CN decided to bid C$2.4 billion in February 1998, for Illinois Central Corp. of Chicago, IL, to make its ratios not far behind with those of US operators. The competition between Canadian and US railway firms are also intensifying due to more flexibility to ship Canadian commodities through US ports and the presence of more north-south traffic under the North American free-trade agreement.

Comment:

Canada: Railway industry is pressured to keep pace with the advances their US counterparts have achieved to be more competitive

Market information - general, Railroads, Rail Transportation, Article

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Brian Mulroney to join Quebecor board of directors

Article Abstract:

Quebecor Inc's recent management proxy circular stipulated that former prime minister Brian Mulroney will officially join the company board at its Apr 29, 1999 yearly meeting. Since 1997, Mulroney has been serving on the board of subsidiary Quebecor Printing Inc. A latest study by executive search company Spencer Stuart Canada revealed that Quebecor directors were paid C$12,000 in retainer fee for each board meeting they attended in 1997.

Printing, Commercial Printing, Printing industry, Quebecor Inc.

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CN CFO seen continuing Sabia's track record

Article Abstract:

Montreal, Canada-based Canadian National Railways Co Senior Vice-President and CFO Claude Mongeau is expected to continue the management style of his predecessor, Executive Vice-President and CFO Michael Sabia. By Oct 1, 1999, Sabia will transfer to Bell Canada International Inc as chairman and CEO. Along with Executive Vice-President of Strategic Planning Jeff Ward, Mongeau has worked under Sabia on important initiatives.

Line-Haul Railroads, Executive changes & profiles, Railroad Passenger Operations, Canadian National Railway Co.

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