CN Selling Montreal Headquarters Building

Mr Tadman

Before anything else, let's set the historical record straight regarding the CN logo...

http://www.cn.ca/companyinfo/history/logo1960.shtml

** Your friendly neighborhood moderator appears before you clad in his fire chief's garb with this legion of ninjas behind him also clad in firefighter gear and armed with fire extinguishers. Large, Oshkosh, airport-style fire trucks sit at the ready. Komachi leans inside his vintage, 1974 Dodge Monaco, chief's car and grabs the microphone for the Motorola CB and speaks over the loudspeaker. **


Civility, ladies and gentlemen, civility, or else you get hosed.

So, you are moderating the wrong thread then... LoL!

No, I am very much moderating the correct forum and, yes, I do expect people who participate in the forums, of which I hold the title of moderator to conduct themselves in a civil manor.

Yes, I do have a sense of humor.
Yes, I do give a certian degree of leeway towards venting and bashing, as long as they're a.) more or less constructive criticism, b.) on topic, c.) not directed against fellow participants in the forum and d.) do not incite a flame war.

Ask anyone who frequents my forums and they'll tell you that I'm quite lenient and fair in how I handle things.

I think this topic pretty much ended itself a few posts back, however, I thought it would continue along the lines of a discussion about railroads and selling of real estate, particularly their HQ buildings. I also thought that this would be a civil diebate wherein parties may disagree about the subject at-hand, but still respect other's opinions as they are presented to the group for discussion.

However, I feel this thread is slowly starting to smolder and may degrade into a flame war.

That being said, I'm going into "warden mode" and placing this thread on temporary lockdown in order for everyone to sit down and cool off.

I will unlock the thread after 48 hours, or so. If things degrade further, I will lock the thread perminantly.

Take 2,880, kids.


** CLICK **


** The thread now sports one of Komachi's infamous "magic locks," with the laser engraved Milwaukee Road logo proudly displayed on the lock's chrome surface.

Not to be negligent in my moderator duties, but life and a malcontent computer have thrown a few curveballs my direction. I have had a number of requests to reopen this thread and snice the embers have had more than sufficent time to cool down I think it is safe to re-open this area for business.

Although, let me make one request, in that you keep the discussion to real estate transactions, like Penn Station and Chicago Central Terminal... or the selling of air rights over tracks, etc., or any other transaction similar to what CN is doing with their HQ building.

That being said I shall let you return to the discussion at hand, ladies and gentlemen...

** Gracefully bows and gestures for you to re-enter the thread. **

You're the best! If you lock down threads, the people who need to learn the most, don't get to!

A comment I couldn't let slide; something about how a railroad doesn't belong in the real estate business. That couldn't be more out of line with reality.

The key to survival is DIVERSIFICATION. If the Santa Fe didn't have all kinds of assets outside of railroading like real estate and uranium mining to name just two examples, they would have FALLEN FLAT ON THEIR FACES during the lean years if they only had their railroad to rely on.

Another example of diversification getting a corporation through was New York Central's assets. Once stripped by the Penn Central and spun off independently, what happened? The Penn Central had NO CUSHION to fall back on when the troubles began to mount.

Irving Corporation LTD in New Brunswick; "An Oil Company doesn't have any business in TREES?" one might ask? Irving is EVERYTHING in the Maritimes, including;

Paper Products
A Chain of Hardware Stores
KENT Home Supply (ie Home Depot)
SNACK BARS & Convenience Stores & Truck Stops.
Home Heating Oil
GAS STATIONS

That's just the tip of the iceberg for Irving. Irving is such a monopoly that there is a movement to boycott their products. If Irving didn't have the diverse holdings that it has, it wouldn't be looking at building a 12 Billion dollar refinary in St. Johns, all out of pocket.

And gee, what else did that Oil Company do? They bought the trackage that Canadian Pacific gave up, and they can cheaply move their products around on their own railroad!

If Canadian National (likewise CP) didn't have a chain of hotels, real estate and other diverse assets, they wouldn't have the capital to play with. I don't see CN in a lean period that would justify selling off the property in Montreal, therfore, I see it as foolish to shed a money maker and NOT saving its liquidation for a rainy day.

D/

I know it's an old thread but had to put in my 2 cents CDN, now at or near par.

Dieter, I agree fully.

Now to the original point of contention:
Given railroad history between Canada and U.S.A I am not surprised at the response of fire651, being Canadian myself I sat up straight reading Tadman's post. When the CPR was built in the early 1880's it was moved south thru a more treacherous mountain pass than originally surveyed just to prevent encroachment by U.S railroads. The American Civil war raised the issue of border security between our countries as, after the war the U.S. had a large , idle standing army. Many Americans advocated Manifest Destiny and spoke openly of using force to appropriate British territory to "finish the job" begun in the American Revolution. Oh Canada, we stand on guard for thee.
We come by our history honestly, as do you, and the OP should not be too surprised if after a statement such as his the response fell slightly to the defensive side.

They're not exactly out of the real estate business, they've got a strip of property 50M wide right across Canada!!! lol!!
Getting out of building mgmt, and pulling the capital out, is common for many companies. That seems to be the fashion these days!