CPR , 4500 jobs gone

[Topaz]

Sad, for 4500 Canadian Pacfic Rail lines employees who will lose their jobs. I hope they have some money saved up to live on while waiting for EI, which probably take 2 months or more to get. It seems like someone is losing their job and the only thing the feds can say is were have created 820,000 jobs, but they don't say, we have 1.4 MILLION unemployed and that is still growing. Who is next? http://ca.news.yahoo.com/canadian-pacific-railway-slash-4-500-jobs-efficiency-001018521--finance.html

[GostHacked]

With the orchestrated global financial meltdown, you can expect this to happen more in the near future, and with greater numbers. Canada is and wont be the only ones, we are just catching up.

Citigroup is cutting 11,000 jobs worldwide in a recent article.

Come get some austerity!

[punked]

That's what happens when you don't go with a stimulus big enough to jump start the economy again.

[cybercoma]

That's what happens when you don't go with a stimulus big enough to jump start the economy again.

But austerity stimulates the economy. When nobody has a job and no money to buy anything, if we cut their social services that keep them afloat and give big businesses a tax break, they'll make more stuff for people to buy. That will create jobs and once all of that stuff is made those people will be able to buy the stuff. Nevermind this socialist claptrap about giving money to lazy bums in order to stimulate production. Nobody would bother going to work in order to create the production if that happens.

[Shady]

That's what happens when you don't go with a stimulus big enough to jump start the economy again.

Complete nonsense. You obviously didn't read the article. Or do you think stimulus spending should fund an entity that has the industy's worst efficiency?

[bush_cheney2004]

CPR was an inefficient money pit...good thing they hired an American born CEO to cut the fat. The hedge fund paying for all this wants results, not excuses!

[wyly]

it's all trickle down economics again, trouble is it never trickles down...when times are bad the wealthy and corporations don't spend and those who really generate the economy with their spending the poor and middle-class can't because of austerity...

[cybercoma]

The economy will come back to life when we finally stop paying attention to those shouting for austerity and we bail out Main Street instead of Wall Street. The only reasons businesses exist is to service the demand people have for what they offer. But let's not do anything to encourage demand. It's far better to encourage supply, even though nobody has any idea what they should be supplying in the face of weakened aggregate demand.

[Guest Peeves]

I think the term feather beading started with the CPR. If it didn't it should have.

Etymology

Look up featherbedding in Wiktionary, the free dictionary.

The term "featherbedding" originally referred to any person who is pampered, coddled, or excessively rewarded. The term originated in the use of feathers to fill mattresses in beds, providing for more comfort. The modern use of the term in the labor relations setting began in the United States railroad industry, which used feathered mattresses in sleeping cars. Railway labor unions, confronted with changing technology which led to widespread unemployment, sought to preserve jobs by negotiating contracts which required employers to compensate workers to do little or no work or which required complex and time-consuming work rules so as to generate a full day's work for an employee who otherwise would not remain employed.^[

[bleeding heart]

I think the term feather beading started with the CPR..

??

Didn't you read the etymology that you provided for us?

[GostHacked]

That's what happens when you don't go with a stimulus big enough to jump start the economy again.

Ask the USA and how QE1 worked. Then ask how QE2 worked, and now QE Infinity. Throwing all the money at it won't solve the problem or get to the root cause of why austerity needs to happen in the first place.

And now that it's starting to hit Canada, as I expected it, do we throw more of taxpayer money at the problem? Or do we solve what the real problem is. Canada has passed a milestone of more than 600 Billion in national debt. Please tell me where this stimulus money will come from?

[GostHacked]

it's all trickle down economics again, trouble is it never trickles down...when times are bad the wealthy and corporations don't spend and those who really generate the economy with their spending the poor and middle-class can't because of austerity...

It is a trickle down economy. Corporations and governments screw up and we get to pay for it all. Hurrah!!

[Guest Peeves]

??

Didn't you read the etymology that you provided for us?

Now let's not get silly. Of course I did, but on the Internet any reference can be contested with another reference, so what was your point? The CPR is but one RR, and it may or may not be apropos.I suggested it should be.

Edited December 5, 2012 by Peeves

[bleeding heart]

Now let's not get silly. Of course I did, but on the Internet any reference can be contested with another reference, so what was your point?

????

Then why provide a reference which you suspect is mistaken?

[bush_cheney2004]

Any day there are 4500 fewer union jobs is a good day.

[Argus]

Now let's not get silly. Of course I did, but on the Internet any reference can be contested with another reference, so what was your point? The CPR is but one RR, and it may or may not be apropos.I suggested it should be.

Why? CPR was and remains a profitable company whose stock has been rising steadily. In fact, it's up 51% this year. It's ten year return rate is over 10%, which is pretty darn good, imo. It's certainly better than the banks.

What hasn't been explained to me is the need for massive layoffs, or how the company intends to provide the same level of service with a 25% smaller workforce.

[Guest Peeves]

????

Then why provide a reference which you suspect is mistaken?

To give some the opportunity to whine I suppose.

[Guest Peeves]

Why? CPR was and remains a profitable company whose stock has been rising steadily. In fact, it's up 51% this year. It's ten year return rate is over 10%, which is pretty darn good, imo. It's certainly better than the banks.

What hasn't been explained to me is the need for massive layoffs, or how the company intends to provide the same level of service with a 25% smaller workforce.

"Canadian Pacific Railway Ltd , the country's second biggest rail carrier, said on Tuesday it would cut 4,500 jobs by 2016 as part of a drive by its new CEO to slash costs and improve its operating efficiency, now the industry's worst.

[Argus]

"Canadian Pacific Railway Ltd , the country's second biggest rail carrier, said on Tuesday it would cut 4,500 jobs by 2016 as part of a drive by its new CEO to slash costs and improve its operating efficiency, now the industry's worst.

So he conducted a study of all the other railroads, using the same criteria, and determined his was the least efficient?

Do you really think that happened? Personally, I wouldn't believe a corporate CEO if he told me water was wet.

[Topaz]

I wonder if this is more about cutting the union members down and less about profits, they did just go through a strike this year.

[bleeding heart]

[

To give some the opportunity to whine I suppose.

Pointing out your logical errors is not "whining."

[Shady]

So he conducted a study of all the other railroads, using the same criteria, and determined his was the least efficient?

Do you really think that happened? Personally, I wouldn't believe a corporate CEO if he told me water was wet.

As oppose to a non-corporate CEO?

The ignorance of business and general economics in this forum never ceases to amaze me. You can really tell that they're not subjects taught in school.

[Argus]

As oppose to a non-corporate CEO?

The ignorance of business and general economics in this forum never ceases to amaze me. You can really tell that they're not subjects taught in school.

Actually, I was a Business Admin major. Care to tell me where my ignorance is at?

Btw, your major was what exactly?

[bleeding heart]

Actually, I was a Business Admin major. Care to tell me where my ignorance is at?

You disagree with him. So, QED.

Btw, your major was what exactly?

'Roids and Romney, I think.

[Moonbox]

The economy will come back to life when we finally stop paying attention to those shouting for austerity and we bail out Main Street instead of Wall Street. The only reasons businesses exist is to service the demand people have for what they offer. But let's not do anything to encourage demand. It's far better to encourage supply, even though nobody has any idea what they should be supplying in the face of weakened aggregate demand.

It's nice to see that you're able to harp cliched tag phrases and stuff, but you still don't understand how the economy works, and that's a long standing problem you have here. Social services do not stimulate the economy. There's huge amounts of data and history that prove this. Short term transitional help is one thing, but long term public support the chronically unemployed and under-employed acts as a disincentive for finding productive work and promotes waste and laziness, which is a huge drag on the economy.

Edited December 6, 2012 by Moonbox