CN: Statement of Paul M. Tellier, President and Chief Executive Officer of Canadian National Railway Company...Business Editors WASHINGTON, DC--(BUSINESS WIRE)--March 10, 2000 CN(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CNR.) (NYSE NYSE See: New York Stock Exchange :CNI (1) (Certified NetWare Instructor) See Novell certification. (2) (Coalition for Networked Information, Washington, DC, www.cni.org) A partnership of the Association of Research Libraries, CAUSE and EDUCOM, founded in 1990. ) BNSF BNSF Burlington Northern Santa Fe Corporation (railroad) (NYSE:BNI BNI Business Network International BNI Business Networking International BNI Bank Negara Indonesia BNI Bechtel National, Inc. BNI British Nursing Index BNI Barrow Neurological Institute (Phoenix, AZ) ) ...And Robert D. Krebs, Chairman And Chief Executive Officer of Burlington Northern Santa Fe Corporation Canadian National Railway Company Canadian National Railway Company (NYSE: CNI, TSX: CNR) is a Canadian rail transportation company that operates the Canadian National Railway. It was created in December, 1918 as a Crown corporation of the Government of Canada to nationalize several bankrupt rail systems ("CN") and Burlington Northern Santa Fe Corporation ("BNSF") reinforced today that the common control application they will submit to the Surface Transportation Board (STB) will address the issues, including service and competition, raised during four days of STB hearings on the future of the North American railroad industry. Those hearings concluded today. CN President and Chief Executive Officer Paul M. Tellier and BNSF Chairman and Chief Executive Officer Robert D. Krebs said: "We have listened attentively to all participants in the four days of hearings. Testimony fell far short of a consensus in favor of a moratorium on considering new rail mergers. Participants expressed a desire for better service and assurances that service failures associated with the two most recent rail mergers will not be repeated. "We recognize that shippers are concerned about service and the need for heightened competition. As a result, we will include in our application a Service Integration Plan similar to the required Safety Integration Plan. The Service Integration Plan will address how we will provide service equal to or better than we are currently providing shippers. "We are committed to service guarantees and we will continue to explore with shippers ways to inject greater competition into the industry, in addition to keeping all efficient gateways open. We also will include in our application a dispute-resolution process for shippers who are less than satisfied with our service as part of the required STB post-combination oversight process. In addition, our application will demonstrate how we will preserve and enhance competition both on the North American Railway network and off line and where we have heard expressions of concern. "We are willing to address employee issues as demonstrated by our agreement, announced March 6, with the Brotherhood of Locomotive Engineers The Brotherhood of Locomotive Engineers (BLE) was a labor union founded in Marshall, Michigan on May 8, 1863, as The Brotherhood of the Footboard; a year later, its name was changed to The Brotherhood of Locomotive Engineers. . "We thank the STB for holding this hearing separate from the review of our control application." |
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