CNI - Canadian National Railway Company

CN workers ready to strike at midnight, and it's not about the money

About 3,000 CN conductors, trainpersons and yard workers could walk off the job at midnight if a settlement isn’t reached between the union and the company.

CN Rail Strike Begins, Threatening Canada Oil, Grain Shipments

(Bloomberg) -- About 3,200 workers at Canadian National Railway Co. went on strike at midnight Tuesday, threatening to crimp shipments of oil, potash and grain across the country.Conductors and railyard operators at Canada’s largest railway walked off the job after failing to reach an agreement with the company over issues including working conditions and drug benefits, the Teamsters Canada Rail Conference union said.“Unfortunately, we were unable to reach a deal with CN,” the union said in a statement. Workers have been without a contract since July and served a strike notice on Saturday.CN Rail is one of two main rail networks that Canada uses to ship consumer goods and exports of canola, wheat, potash and other resources from the prairies to seaports. The company carries C$250 billion ($189 billion) worth of goods annually and has increasingly been moving into shipping oil amid a bottleneck of pipelines from Alberta’s oil sands.A representative for the Montreal-based company declined to immediately comment on the strike. On Saturday, it said it continued to negotiate in good faith and had offered to go to binding arbitration, which the union rejected.Managers may step in to operate trains, blunting the impact of any walkout. Allison Landry, an analyst with Credit Suisse Group AG, said a walkout may crimp CN’s cargo volume, the labor action likely wouldn’t last long and the impact on the company’s earnings wouldn’t be meaningful.“Historically, rail strikes have lasted a few days, and the Canadian government has been quick to step in and implement back-to-work legislation given the significant threat to the economy,” Landry said in a note to clients.Government MonitoringStill, the government may have less leverage to push for a resolution over the next couple of weeks because parliament isn’t scheduled to convene until Dec. 5. That could delay the adoption of back-to-work legislation until then.Canadian Labor Minister Patty Hajdu traveled to Montreal on Monday to meet representatives from both sides. In a Nov. 16 statement, Hajdu said the federal government is monitoring the situation closely and “has faith” in the collective bargaining process.The Teamsters argue that workers are being forced to operate trains alone from outside the locomotive while hanging on to moving trains with one hand and working a remote-control device in the other, creating a safety hazard. The union is also balking at a lifetime cap on prescription drug coverage and said the company is making it more difficult to take time off and work longer hours.Canadian National fell 0.2% to close at C$123.76 in Toronto on Monday. It has gained 22% this year.(Updates with workers going on strike.)\--With assistance from Theophilos Argitis.To contact the reporter on this story: Thomas Black in Dallas at tblack@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Jacqueline Thorpe, Will DaviesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

Thousands of Canadian National Railway workers go on strike

"Conductors, trainperson and yard workers at Canadian National Railway are now officially on strike," the union said in a tweet http://bit.ly/2O10KW3. Canada, one of the world's biggest exporters of farm products, relies on its two main railways to move canola and wheat over the vast distances from western farms to ports. The union had issued a 72-hour strike action notice period to the company on Saturday after the talks reached a stalemate, setting the momentum for the first strike at Canadian National in a decade.

Midnight strike deadline looms for CN Rail as some 3,200 Teamsters ready to walk

MONTREAL — About 3,200 Canadian National Railway conductors, trainpersons and yard workers could go on strike just after midnight tonight in a job action that would affect freight services if a deal isn't reached with the company.Passenger rail services in the country's three biggest cities would not be affected, the union said.The Teamsters Canada Rail Conference, the union representing the employees, gave the required 72-hour strike notice on the weekend.The union said it hopes to reach an agreement before the deadline to address safety and scheduling issues, but workers are prepared to walk off the job if their expectations aren't met."Our problem is not with the people in general, but with CN," union spokesman Christopher Monette told reporters on Monday.The union represents workers at commuter rail services including Go Transit in Toronto, Exo in Montreal and the West Coast Express in Vancouver, where passengers would remain unaffected.Exo spokeswoman Catherine Maurice confirmed Monday there would "not be an impact from this potential strike," but added it was monitoring the situation closely.CN said it continues to negotiate in good faith and has offered binding arbitration to ensure train services aren't disrupted.Federal Labour Minister Patty Hajdu said the Federal mediation and conciliation service has been working with the two sides since June and the government is monitoring the situation."I am encouraged to see that both parties are still negotiating," Hajdu said in a statement.The workers, who have been without a contract since July 23, say they're concerned about long hours, fatigue and what they consider dangerous working conditions. They are also fighting against a lifetime cap on prescription drug coverage.The dispute comes as CN confirmed Friday that it was cutting jobs across the railway as it deals with a weakening North American economy that has eroded demand.This report by The Canadian Press was first published Nov. 18, 2019.Companies in this story: (TSX:CNR)The Canadian Press

CPP Board: These 3 Stocks Are Worthy of Canada’s National Pension Plan

Air Canada (TSX:AC)(TSX:AC.B) is among the stocks the CPP board has deemed worthy of Canada's national pension plan.

Canadian National to Face Strike Action From Union on Nov 19

Canadian National (CNI) faces allegation of wanting to make employees work for extended periods so that it becomes difficult for them to take time off.

Bill Gates Owns Huge Amounts of This TSX Stock: Should You Buy?

Canadian National Railway Company (TSX:CNR) is one of North America’s most efficient railroads and investors have become very wealthy over the years by owning this stock. Is this the best stock to buy and hold over the long-term?

TFSA Wealth: How a $6,000 Investment Can Turn Into $126,000

It's possible to build a substantial self-directed retirement portfolio. Here's how.

CN Rail confirms job cuts as weakening economy cuts into freight volumes

MONTREAL — Canadian National Railway Co. is confirming job cuts as it deals with a weakening North American economy that has eroded demand for railroad transportation.The company said it is "adjusting its resources to demand" but wouldn't say how many people will be affected.It said some employees will be placed on furlough and there will be reductions in both management and union job numbers.In October, Canada's largest railroad operator cut its adjusted earnings per share outlook percentage for 2019 to the high single digits, down from predictions of low double-digit growth.Freight volumes came in below expectations in the third quarter and manufacturing has also fallen off, it said.The railroad also said it was affected by a slowdown in the British Columbia forestry sector, where high log prices and dwindling timber supply have prompted shutdowns or curtailments in more than two dozen mills, and due to the weather-delayed grain crop on the Prairies."As explained during CN's Q3 results, the company is adjusting its resources to demand," said spokesman Alexandre Boule in a statement."This includes the difficult decision of adjusting its workforce to demand levels by placing some employees on furlough and reducing both management and union job numbers due to a weakening of many sectors of the economy. These adjustments have already started to take place across the network." This report by The Canadian Press was first published Nov. 15, 2019.Companies in this story: (TSX:CNR)The Canadian Press

Canadian National Railway to cut management and union jobs

Buy Canadian National Railway (TSX:CNR): Canada’s Top Dividend-Growth Stock

Canadian National Railway Company (TSX:CNR)(NYSE:CNI) is attractively valued and poised to soar.

Kansas City Southern Stock Up 14.9% in a Month: Here's Why

We are positive about Kansas City Southern's (KSU) decision to hike its quarterly dividend. The company's cost management also bodes well.

Is Canadian National Railway Company's (TSE:CNR) High P/E Ratio A Problem For Investors?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll look at Canadian...

CN Rail (TSX:CNR) vs. CP Rail (TSX:CP): Which Is the Better Rail Stock for 2020?

Should you buy Canadian National Railway Company (TSX:CNR)(NYSE:CNI) or its Canadian peer for 2020?

This Dividend Stock Could Double Your TFSA Dollars

Canadian National Railway Co. (TSX:CNR)(NYSE:CNI) is a solid dividend-growth stock to buy for your TFSA. Here is why.

3 Highly Defensive Stocks to Buy Before 2020

Here are three stocks that can help to protect your portfolio from the inevitable market drop.

TFSA Investors: 3 Stable Growth Stocks for 2020

Tired of sluggish returns? This trio of stocks, including Saputo (TSX:SAP), could give your portfolio the boost of growth it needs.

Retire Rich: How Canadian Couples Can Turn a $20,000 TFSA Into $350,000

Canadian families are trying to figure out how they can retire in comfort.

There’s a Safer Way to Play Canadian Oil Than Oil Stocks

Canadian National Railway Co. (TSX:CNR)(NYSE:CNI) offers energy investors another way to play Canadian oil, plus it pays a safe dividend.

3 Boring, Defensive Long-Term Winners

Looking for boring? Try Canadian National Railway Company (TSX:CNR)(NYSE:CNI), Canadian Pacific Railway Limited (TSX:CP)(NYSE:CP), and Enbridge Inc. (TSX:ENB)(NYSE:ENB).

Can CN Rail (TSX:CNR) Stock Double Your Money?

Buy and hold Canadian National Railway (TSX:CNR)(NYSE:CNI) stock for excellent long-term returns.

Is Canadian National Railway (TSX:CNR) Still a Buy With a Looming Recession?

Many are predicting a recession in the not-too-distant future. Is Canadian National Railway (TSX:CNR)(NYSE:CNI) still a buy?