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Too much profit.....
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Too much profit.....
« on: Jan 11th, 2010, 6:28pm »
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Canada: Canadian National's grain operations were too profitable
Published: Monday, January 04, 2010
OTTAWA, Ont. The government of Canada has ordered Canadian National Railway to repay C$700,000 after the railroad exceeded its grain revenue cap in 2008 and 2009, Reuters has reported. Canada limits the amount of grain-shipping revenue Class I railroads CN and competitor Canadian Pacific can earn each year; CP did not exceed its cap.
Last year, CN was found to have exceeded its cap, and appealed the finding to Canadian courts. The challenge remains under review. Spokesman Kevin Franchuk said the railroad is considering whether to appeal the decision again.
Canada implemented the revenue cap in the 1990s, as earlier grain-rate regulation schemes were abolished. CN's Canadian revenue of nearly C$480 million came in about .1 percent above the cap, according to the Canadian Transportation Agency. CP earned $485 million on Canadian grain shipments, below its cap.


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Re: Too much profit.....
« Reply #1 on: Jan 12th, 2010, 9:18am »
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Pyronova -
This is Alice In Wonderland stuff, right? So, it OK for PTB types (usually unelected) to order such nonsense?  
Had private businesses done it, the Anti Trust charges woud have quickly followed?
Even more silliness here! The news item writer ignorant that gross carload revenues are not profits. Writer  
needs some time in Accounting Classes...

« Last Edit: Jan 12th, 2010, 9:22am by HwyHaulier » Logged

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