From: brewnoserii@gmail.com   
      
   Let that be a lesson to the damnable oil and gas companies who are now before   
   the National Energy Board pleading their case for extended pipelines to both   
   coasts.   
      
   No oil.  No need for transportation of it.  Really quite simple. . . .  for   
   the less greedy.   
      
   And no, we Canadians (excluding Alberta), do not want to see China replace the   
   U.S. as Alberta's main oil-export customer.  That land you want to cross and   
   those oceans you want access to for their tankers belong to all Canadians -   
   not just Alberta's oil    
   companies.   
   ___________________________________   
   CBC News Posted: Jan 21, 2016   
      
   Canadian Pacific Railway to cut up to 1,000 jobs as rail volume slumps   
      
      
   Canadian Pacific Railway plans to cut 1,000 positions this year as it adjusts   
   to lower shipment volumes and profits.   
      
   The Calgary-based rail company says most of the cuts to unionized and   
   management positions will result from attrition and kick in by the middle of   
   2016.   
      
   Since 2012, the railway has cut 6,000 to 7,000 positions, including 1,200 last   
   year alone.   
      
   CP made the announcement on a conference call Thursday after releasing its   
   fourth-quarter and year-end results.   
      
   "There's probably 1,000 additional heads to come out potentially in 2016," is   
   how CEO Hunter Harrison replied to an analyst's question on the company's head   
   count. "So there's still room there."   
      
   The company's numbers show profits slipped 29 per cent to $319 million, or   
   $2.08 per share, in the three months before Dec.31.  Those numbers are down   
   from $451 million, or $2.63 per share, a year earlier.   
      
   For the year as a whole, however, CP saw revenue of $6.71 billion and $1.35   
   billion in profit -- both record highs, but both less than what analysts had   
   been expecting.   
      
   The company is seeing reduced demand for its services, as the North American   
   economy shows signs of a slowdown.   Once the impacts of currencies are   
   stripped out, revenues from crude oil shipments were down 19 per cent this   
   year, metals shipments were    
   down 10 per cent and auto parts were down two per cent, according to an   
   investor presentation released Thursday.   
      
   That could be poised to get worse. "The numbers were OK, but it was the   
   guidance going forward that kind of freaked everybody out," said Barry   
   Schwartz, the chief investment officer of Baskin Wealth Management in Toronto.   
      
   "This is a boom-bust business, the railroad business," he said, adding that   
   CP's rival CSX said the economy is in a "freight recession" earlier this week.   
      
   The job cuts are not surprising considering the reduced demand to ship   
   commodities.   "What's it going to look like if Canada goes into a recession,"   
   Schwartz said.   "Are we still going to be shipping a lot of oil and resources   
   and grains?"   
      
   CP is in the midst of trying to merge with U.S. railway Norfolk Southern, a   
   deal that would create the largest rail company in North American but one that   
   has thus far been rebuffed by the target company's board.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)