Wall Street analyst William Greene of Morgan Stanley Research North America is telling investors in the rail sector that Canadian Pacific Railway, under the direction of newly appointed chief executive E. Hunter Harrison, “could be the most compelling railroad investment opportunity for the next three years.”
Canadian Pacific announced Friday that Michael Redeker has been appointed vice president and chief information officer, effective Oct. 15. Redeker was most recently chief information officer at ATB Financial.
Canadian Pacific Monday said it has launched new faster intermodal train services connecting Vancouver, British Columbia, to Toronto or Chicago.
Railroads these days are enjoying good “fracking” business—no pun intended—and Wall Street has taken notice.
The worst kept secret in the railroad industry for more than a month has been the identity of the new chief executive of Canadian Pacific Railway. For the record, E. Hunter Harrison was named president and chief executive of CP on Friday, June 29.
Canadian Pacific Friday officially made its long-anticipated move of appointing E. Hunter Harrison president and chief executive officer, completing a significant revision of CP leadership through its revamped board of directors.
While the railroad world waits for the Canadian Pacific Railway board of directors to name a permanent chief executive to succeed acting CEO Steve Tobias, some railfans are whiling away the hours speculating on the good things that would come from a merger of CP and Kansas City Southern Railway.
To you I say: Do not hold your breath.
Canadian Pacific and U.S. Silica Holdings, Inc. Friday announced a multi-year agreement for the movement of frac sand from U.S. Silica’s newest mining and processing facility in Sparta, Wis., as Class I railroads continue expanding their services in the energy field.
Canadian Pacific’s Board of Directors, significantly revamped last month through a proxy battler led by New York-based Pershing Square Capital Management, continues to change as David Raisbeck now has resigned from the board, citing personal reasons.
Investors on Wall Street, watching events at Canadian Pacific carefully throughout the week, continued to reward the company Thursday for its apparent—and now affirmed—shakeup of CP’s Board of Directors.
