Hunter Hardball

[ferroequinarchaeologist]

"Hunter Harrison to regulator: Don’t mess with my productivity
Written by William C. Vantuono, Editor-in-Chief

The Canadian Transportation Agency (CTA) on Sept. 13, 2013, ordered Canadian Pacific Railway to immediately cease and desist “load testing” and idling operations in proximity to its Locomotive Reliability Centre (LRC) at Alyth Yard, Calgary. CP, noting CTA’s apparent inability to recognize that railroads operate round-the-clock, on Sept. 19 announced plans to close the LRC over the next few months and lay off 130 people."

http://www.railwayage.com/index.php/reg ... ll+Article" onclick="window.open(this.href);return false;

[Minneapolitan]

Why is this entitled "Hunter Hardball"?

The only thing hard about Harrison comes from his megalomaniacal ego...

[Gilbert B Norman]

I think it safe assumption that Bill Ackman is through with railroads. I have no knowledge how much he made or lost with his CP investment, but anyone reading this Times article will know he has bigger worries on his plate.

Imagine one of these Wall Street raiders actually admitting to a mistake:

http://www.nytimes.com/2017/03/29/busin ... -says.html" onclick="window.open(this.href);return false;

Fair Use:

..Mr. Ackman struck a more positive tone for the year ahead, pointing to new opportunities and saying, “We are well positioned for a strong recovery.” The firm sold its holdings in Canadian Pacific Railway and Zoetis, the former animal health care arm of Pfizer, last year, freeing capital to make new investments

I think from this caption, it's evident Bill would not have had a chapter in the book "The Men Who Loved Trains".

[SemperFidelis]

I think his book would read more like a Dickensian tale:

"The Men Who Loved Money"

[Gilbert B Norman]

Time for "apology tours" by both the new Executives at CSX and CP: (posted at CSX Forum but equally applicable here):

viewtopic.php?f=53&t=166558&start=45#p1463191" onclick="window.open(this.href);return false;

[Gilbert B Norman]

Only tangential mention of the CP within this article appearing in Today's Journal, but it looks like "Humpty Dumpty had a great fall":

http://www.wsj.com/articles/pershing-sq ... 1522920601" onclick="window.open(this.href);return false;

Fair Use:

..William Ackman, the famed shareholder activist, is losing investors at a rapid pace and facing a future that would no longer include managing a private hedge fund.

After three years of subpar performance, most investors in his Pershing Square Capital Management LP asked for money back, and pulled about two-thirds of the cash that could be withdrawn at the end of last year, according to people familiar with the matter. Redemptions, which are limited to a portion of total assets, have continued at a similar rate this year, one of the people said.

Longtime backer Blackstone Group LP has been taking cash out, and JPMorgan Chase & Co.’s asset-management group told clients it could no longer recommend the fund, the people said. Many of the redemptions are from large institutions that invested in recent years, one of the people said.........Mr. Ackman’s long-term record still includes more gains than losses. If his losses were notable, his gains at Canadian Pacific Railway Ltd. , MBIA Inc. and mall developer General Growth Properties Inc. were celebrated, too.

Sorry 'bout the likely paywall; such are a way of life nowadays - and IMO, should have been since the day Al Gore discovered the internet.

[Wayside]

Will be interesting to see how this plays out. Thanks for sharing.