MONTREAL, Aug. 31, 2021 (GLOBE NEWSWIRE) — CN (TSX: CNR, NYSE: CNI) today issued the following statement in response to the recent decision by the Surface Transportation Board (“STB”) in relation to CN’s proposed combination with Kansas City Southern (NYSE: KSU) (“KCS”):
We are disappointed in the STB’s decision regarding the joint voting trust application filed by CN and KCS. We are evaluating the options available to us in light of the STB’s decision.
We remain confident that our pro-competitive, end-to-end combination is in the public interest and that it would offer unparalleled opportunities and benefits for customers, employees, the environment and the North American economy. The combined company would create the premier railway for the 21st century and establish seamless single-line service from Canada, through the United States and into Mexico.
Since the proposed combination with KCS was announced, we have been encouraged by the overwhelming support from both companies’ customers, employees, local communities and shareholders. We continue to believe that the combination of CN and KCS would enhance competition, expand North American trade and power economic prosperity, provide new and faster routes, increase supply chain efficiency and deliver other benefits to the public good.
About CN CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN, and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
Forward-Looking Statements Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to CN and KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome
LAKEWOOD, Colo. (KDVR) – No one was hurt after a vehicle ended up in a pool in Colorado on Thursday afternoon.
Police in Lakewood say the incident occurred when a teen driver accidentally put the vehicle — an Infiniti — in reverse. The driver and the adult passenger got out safely. The teen driver has been cited for careless driving.
Police thanked fire crews for helping with the follow-up work, as well as a local towing company that assisted officers in getting the car out of the water.
The incident, while serious, also inspired a few “carpool” jokes on Twitter. But the Lakewood Police offered up their own knee-slapper, which they deemed to be the best possible one-liner.
“Just FYI, the best line for this is ‘Check out our new Infiniti Pool.’ Everyone else is battling for second place.”
For the most up-to-date news and information about the coronavirus pandemic, visit the WHO website.
As the novel coronavirus continues to spread across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19, the disease the coronavirus causes. The situation remains fluid as more European companies suspend work and US automakers extend shutdown periods.
Here are all the automakers and companies that have elected to halt production in the US and Europe so far. Information on Detroit’s Big Three begins our coverage, followed by all other shutdowns organized by the date automakers announced them. We’ve also compiled a full list of automakers returning to work with plants restarted in some capacity.
Ford shut down all European and North American production on March 19 to help combat the spread of COVID-19. While Ford intended to reopen facilities and restart production on March 30, the company on March 31 delayed that goal indefinitely. However, it plans to start ventilator production at one of its US facilities on April 20. Production of Ford vehicles and engines across the pond is expected to resume on May 4 at the soonest.
Keep track of the coronavirus pandemic.
GM joined Ford on March 18 in announcing a total suspension of all North American production starting March 19. The automaker said it would pull its facilities offline in a “cadence” and each plant would receive specific instructions. GM hasn’t made any announcements regarding when its plants will resume normal production, but it is building ventilators and masks at two US GM facilities. The automaker made the decision to build personal protective equipment on its own before the Trump administration forced it to do so by invoking the Defense Production Act.
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Fiat Chrysler Automobiles
FCA joined Ford and GM on March 18 in announcing it would suspend all North American operations to help stop the spread of COVID-19. While GM and Ford haven’t established new dates to restart production, FCA told Roadshow on April 7 it now plans to bring workers back on May 4. An FCA spokesperson originally told Roadshow the automaker’s Italian plants could open on April 14, but as of April 15, the company said it will continue to follow guidelines from the Italian government. The country will remain in a lockdown state until May 3, which leaves a production start at least a few weeks away. The automaker will evaluate other European plants in the coming weeks.
Kia on March 24 said it would suspend production at its manufacturing plant in Georgia starting March 30. The shutdown will last two weeks, and includes a previously planned suspension to retool for new vehicles. The automaker originally planned to restart production on April 13, but named April 27 as the new target date. Kia did not immediately return a request for comment to learn if manufacturing operations has restarted.