Business
LRT service won’t be fully restored until at least Tuesday
She said the full service would only reopen “when it is safe to do so”.
The partial stoppage during an ice storm is just the latest in a long line of problems for the LRT system, which opened to fanfare in 2019. Last November, Justice William Hourigan issued a scathing final report after the Ottawa Light Rail Transit Inquiry, in which he said the public was deliberately misled about problems with the system while under construction and it was rushed into service.
The latest problems started Wednesday overnight when, first, an eastbound train stopped between Lees and Hurdman stations and then a westbound train stopped in the same area a short time later. Efforts to tow disabled trains resulted in further damage to the overhead cantenary system and two more trains being stuck on the tracks in the area around Lees and Hurdman stations.
As of Sunday night, two trains had been towed off Track 1. Overnight Sunday and Monday, workers were manually clearing ice and making repairs on the wires on Track 2. The two remaining disabled trains cannot be moved until those repairs are made, said Mario Guerra, CEO and acting general manager of Rideau Transit Maintenance.
He said full services would not be restored until at least Tuesday “if we are as successful with Track 2 as we were with Track 1 (Sunday).”
Experts from the city, RTM and light rail manufacturer Alstom will meet Monday to determine whether the overhead cantenary system is safe and will then discuss what lessons have been learned. That includes whether de-icing or technology could be used in advance to prevent any future stoppages during freezing rain.
OC Transpo said the R1 bus service will not service the Cyrville station. Customers are asked to transfer at St. Laurent or Blair stations. Officials said they would monitor passenger demand and adjust where possible.
OC Transpo will have representatives at stations to direct transit riders and answer questions. Updates will be available on its website octranspo.com and information is available at 613-560-5000.
“It is frustrating. After going through what we have over the past three years with the LRT, it really seemed like we had turned a corner and that the worst was behind us,” Gower said in an interview Saturday.
Glen Gower, Stittsville councillor and the chair of the City of Ottawa’s transit commission.Gower called it a significant outage.
“It is a setback in terms of everyone’s confidence and everyone’s trust in the system. We are going to have to work harder to make sure it is reliable.”
He noted that light-rail trains operated around the world in areas that occasionally experience freezing rain.
“Freezing rain is not something that should take a system down.”
Amilcar, who took over as head of city transit services in 2021, said OC Transpo was bringing in external oversight to “closely monitor” RTM’s work and “provide independent advice to OC Transpo and confirm that we have a solid plan to return services to this area.”
The LRT’s poor winter performance was one of the issues addressed during the provincial public inquiry into the construction, operation and maintenance of the Confederation Line.
In his report, released Nov. 30, Hourigan said the train should have been tested in real-world winter weather conditions and not just in lab simulations, as was done for Ottawa’s system.
The chaos caused by last week’s ice storm caught OC Transpo off-guard.
The ice buildup wasn’t as bad on the east and west sections because trains were still operating on those portions and regularly knocked ice off the power lines, said Guerra.
That wasn’t the case along sections of the track where the trains were stopped.
To prevent a reoccurrence, “We need to improve our ability to retrieve vehicles,” Guerra said.
With files from Megan Gillis
Business
Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty
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.
Companies in this story: (TSX:CGX)
The Canadian Press. All rights reserved.
Business
Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago
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.
Companies in this story: (TSX:QSR)
The Canadian Press. All rights reserved.
Business
Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago
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.
Companies in this story: (TSX:FTS)
The Canadian Press. All rights reserved.
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