Union members at CN and CPKC railways have voted to reauthorize strikes at both companies if negotiated settlements can’t be reached, raising the threat of supply chain disruptions across Canada.
Teamsters Canada said in a statement Saturday that union members at both railways voted almost 99 per cent in favour of reauthorized strike action.
The union said members previously voted in favour of strike action on May 1, but the 60-day time limit on the vote expired.
It said that meant it had to take the “unusual step” of holding a second strike vote.
CN spokesman Jonathan Abecassis said Saturday the company does not want a situation to occur that holds “Canadian supply chains hostage.”
“Our position is that we want the union to come back to the table,” Abecassis said in an interview. “We are asking the union to accept binding arbitration. It is not favourable to one or the other of the parties. It is favourable to getting a deal done.”
CPKC spokesman Terry Cunha said the company issued a statement Friday and would not be making further comment Saturday.
The Friday update on the company’s website said the railway was awaiting a decision from the Canada Industrial Relations Board regarding the federal labour minister’s referral on maintenance of activities during a strike or lockout.
“We know our supply chain stakeholders want certainty regarding expected timing of a CIRB decision and potential work stoppage, however, it remains unclear when the CIRB will issue a decision,” said the statement.
It said it is unlikely the company or union would be in a legal position to initiate a strike or lockout before mid-July or later, and 72-hours strike or lockout notice must be provided.
The company also said it requested the CIRB extend a cooling-off period for 30 days after the date of its maintenance activities decision.
“This would help provide stability and predictability regarding the timelines for a potential work stoppage and allow all stakeholders to plan for such an eventuality,” said the company statement.
Paul Boucher, the Teamsters Canada Rail Conference president, said the union wants to go back to the bargaining table with its renewed strike mandate and work with federal government mediators.
The union said the rail companies are looking for concessions on crew schedules, work hours and fatigue management.
“CN and CPKC are trying to force changes to our collective agreements that would move the clock back on working conditions and rail safety,” said Boucher. “The Teamsters are trying to stop them.”
This report by The Canadian Press was first published June 29, 2024.
TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.
The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.
The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.
The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.
Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.
Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.
This report by The Canadian Press was first published Nov. 6, 2024.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
