Cn, Cp Grain Case Appeal Shot Down

摘要

Canadian National and Canadian Pacific say an adverse court ruling on grain rates and on the cost of maintaining a fleet of government owned grain cars will cost each of them $C23 million ($18.7 million) in revenue from the 2007-08 crop year. And CN says the ruling could affect its future investments in infrastructure and equipment related to hauling grain. The Federal Court of Appeal refused to accept the railroads' claim that government regulators erred in retroactively cutting the amount of revenue the carriers could earn in the 2007-2008 crop year. Also rejected was CP's claim that the regulators improperly used CN's data in determining the cost to both railroads of maintaining their share of the grain car fleet.