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Re: CMQ for sale?

 by Zeke ¦  Sat Feb 01, 2020 6:53 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Apparently CEO Creel has been out and about the CMQ talking to employees and customers the past two weeks. He was joined by marketing big wigs and seems quite enthusiastic about the purchase. Fourth quarter earnings are in gross income C 2.07 Billion dollars and C 664 million dollars' net. Record fo...

Re: CMQ for sale?

 by Zeke ¦  Thu Jan 30, 2020 11:48 pm ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

I am sure CMQ is very familiar with their clearance diagrams but as a Class one taking them over CP would want to double check and update if necessary all of the dimensions in CMQ's book. On occasion a lucrative oversize load may be handled and CP would want to affirm close clearance locations and t...

Seems a bit odd they don't mention rates of pay ?

Re: CMQ for sale?

 by Zeke ¦  Sat Jan 25, 2020 5:08 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

The CMQ is now owned by the CP and work rules and pay rates will be negotiated. The Main line of the CMQ is an appendage of the CP system and I would think the Brotherhoods will make sure the CP pays the system scale. They are not buying the CMQ to run some union evading low wage renegade short line...

Re: CMQ for sale?

 by Zeke ¦  Mon Jan 20, 2020 2:38 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

IIRC CP engineers are payed around $ 51 dollars' an hour but not sure if that's Canadian or US Dollars as they operate in two countries. Also I think the CMQ engineers are in a steel workers union and the conductors are in the UTU.

Re: CMQ for sale?

 by Zeke ¦  Sat Jan 18, 2020 4:39 pm ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Is CP going full bore takeover of CMQ or will CMQ still retain its corporate identity and employees and basically operate as a wholly owned subsidiary ?

Re: CMQ for sale?

 by Zeke ¦  Wed Jan 15, 2020 4:10 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Friend of mine who is a really big wheel on a Class one still thinks Irving's are feeling around getting out of the RR Biz and CP made the first step in grabbing the CMQ at any price. CP appears to be in that strategic position to revive the Montreal St John traffic lane if an offer comes to pass. A...

Re: CMQ for sale?

 by Zeke ¦  Tue Dec 10, 2019 3:17 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

It probably is I have seen Job 2 with stacks.

Re: CMQ for sale?

 by Zeke ¦  Mon Dec 09, 2019 11:13 pm ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Your are right Keefe,stunning. If someone said to me here are two stories one is true and one false which would you choose ? A UFO landed on the roof of CMQ headquarters or CP just bought the CMQ. I would choose the UFO story.

Re: CMQ for sale?

 by Zeke ¦  Mon Dec 09, 2019 2:44 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Thanks CN interesting talk by Creel. I am still suspicious, if that's the right word, as to why they would buy the CMQ in mind of the 150 million or more to rehab to CP standards. To spend that amount of hard earned cash they must have mighty big deals up their sleeve and are playing it cool. There ...

Re: CMQ for sale?

 by Zeke ¦  Sun Dec 08, 2019 5:05 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

What I don't get is the whole deal. CP has been ruthless in it's devotion to PSR and the attendant penny pinching. Why buy the CMQ with it's need to basically rehab 300 miles of track and bridge replacement reinstall the signal system and many other things required to bring CMQ up to 50--60 mph Clas...

Re: CMQ for sale?

 by Zeke ¦  Thu Dec 05, 2019 4:35 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

Job 2 east of Farnham Jan 2, 2020.https://youtu.be/3s_t6kcsd-g

Re: CMQ for sale?

 by Zeke ¦  Sun Dec 01, 2019 4:25 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

I saw a you tube video of the Searsport branch and it appeared to go through the heart of the town's residential district. Can't see 200 car DPU-ed potash trains creaking through town at 3 am. Speculating now, maybe Irving wants out of the NBSR and will sell it to CP in the future? What is surprisin...

Re: CMQ for sale?

 by Zeke ¦  Sat Nov 30, 2019 6:57 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

As the only class one east of Montreal CN is making a good buck. CP is sitting on a load of cash grossing C 1.9 Billion in the 3rd quarter, net income C 510 million, share price $ 237 dollars and operating ratio of 56. CEO Keith Creel, HHH's son in law,is implementing a lot the old mans proscription...

Re: CMQ for sale?

 by Zeke ¦  Sat Nov 23, 2019 2:13 am ¦  Forum: Central Maine & Quebec Railway (formerly Montreal, Maine & Atlantic | Bangor & Aroostook) ¦  Topic: CMQ for sale? ¦  Replies: 239 ¦  Views: 42609

If I am reading this correctly Fortress put 55 million into the CMQ including the purchase price and sold out to CP for 130 Million ? When EHH was resurrecting the CP he mentioned the sale of the CP maritime lines was a tactical mistake and he hinted he may buy it back in the future. Creel was EHH's...

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