CN's Business Practices Under a Microscope

[C855B]

 

The non-profit financial research group who outed Valeant's back-room shenanigans has CN in their crosshairs:

http://sirf-online.org/2016/12/12/canadian-national-railway-the-great-ralroad-construction-robbery/

[GaryHinshaw]

Interesting.  Good investigative journalism like this has gone the way of the Dodo, much to our detriment!

[lock4244]

Apparently the only ones not able to rip off the Ontario Gov't are the tax payers. If the Gov't scrutinized their contractors the same way they do the rate payers, things like this wouldn't happen.

There is a significant history of 'Pay to play' with the Governing Liberals of Ontario... CN and CP representatives have probably attended fund raising functions. Heck, some Gov't unions are suing the Libs for selling part of Hydro One to their friends in a scheme to kick back money to the party.

One wonders if this over-billing was something to which a blind eye was turned...

[Missaberoad]

There is a significant history of 'Pay to play' with the Governing Liberals of Ontario... CN and CP representatives have probably attended fund raising functions. Heck, some Gov't unions are suing the Libs for selling part of Hydro One to their friends in a scheme to kick back money to the party.

Skirting the politics rule here but its not just the liberals, Former Harper Croney John Baird got a sweet CP board of directors post... and who's government basically told the running trades at CP they weren't allowed to strike by voting them back to work?

Looking at it historically CP (and later on CN) have milked the corporate welfare teat since 1878... makes the American oil companies look honest lol...

[learmoia]

The non-profit financial research group who outed Valeant's back-room shenanigans has CN in their crosshairs:

http://sirf-online.org/2016/12/12/canadian-national-railway-the-great-ralroad-construction-robbery/

Reminds me of when every major US bank needed a bailout except Wells Fargo.............  And I always wondered... why did Wells Fargo NOT need a bailout?....

~Ian

[Blazeman]

Google Credit Mobilier to find historical parallel.

[radivil]

Reminds me of when every major US bank needed a bailout except Wells Fargo.............  And I always wondered... why did Wells Fargo NOT need a bailout?....

~Ian

I was under the impression that PNC didn't need the TARP money. Which is why it was strange that they got TARP funds, but National City didn't, then PNC turned around and used the TARP cash to buy out National City (who was the only one of the top 25 largest banks in the US to be denied funds).  That whole thing was...weird at a minimum.

[jmarley76]

Interesting article, thanks for the share! Wonder if there will be any legal implications?