CALGARY, Alta.—In a recently released white paper, Canadian Pacific has detailed how it feels the precision railroading philosophy would transform Norfolk Southern Corp. (NS) and eventually build a leading transcontinental railway in North America.
“Politicians, shippers and others are calling for a strong, healthy and high performing rail system yet no one has the stomach to challenge the status quo,” CP CEO E. Hunter Harrison said.
“Clearly, moving goods reliably and efficiently is top of mind for everyone in the industry; we believe precision railroading and a CP-NS combination address those challenges,” he added.
According to CP, precision railroading has enabled the company to lower its operating ratio dramatically, improve service, reinvest record amounts in its network and in the communities it serves, and create significant shareholder value in a very short time.
CP said it looks forward to the U.S. Surface Transportation Board’s (STB) decision on its petition for a declaratory order confirming the viability of the proposed voting trust structure, an option CP has proposed as the fastest way for NS shareholders to receive consideration for their shares.