Canada Govt To Introduce Bill To End CP Rail Strike |
| Wall Street Journal - May 28, 2012 |
Canadian Labor Minister Lisa Raitt said Monday her Conservative government must act immediately to end a strike at Canadian Pacific Railway Ltd. (CP) that manufacturers and exporters say is beginning to squeeze their production and employment levels.
The Canadian government will formally introduce back-to-work legislation Monday, roughly 24 hours after the union representing 4,800 engineers, conductors and rail-traffic controllers said talks on a new contract had reached an impasse. The strike, now in its sixth day, has halted freight services across Canada, although commuter-train services in Vancouver, Toronto and Montreal remain in operation using CP rail lines.
A federal mediator assigned to bring the two sides closer to a deal has withdrawn.
Raitt had said last week the bill could emerge as early as Monday, given a strike at the Calgary railroad could cost the Canadian economy an estimated C$500 million (US$485.7 million) a week, according to government officials.
During debate Monday in the Canadian legislature, she said CP is a "vital" link to moving goods to and from the country's Pacific coast ports, which represent the gateway to the fast-growing emerging markets in Asia.
Read Full Article from Wall Street Journal
- Posted: 2012-05-28 14:22:51
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
