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Agriculture committee  It's one year.

November 27th, 2018Committee meeting

Michael Cory

Agriculture committee  Our view on investment is such that we're prepared to make the investments, as we showed this year. We look at business volumes and longevity. We look at so many things that we are prepared to spend the money to continue to do, whether it's to close the gap or to improve the over

November 27th, 2018Committee meeting

Michael Cory

Agriculture committee  I could start, Joan. I think the two railways understand that to make the supply chain work, they collectively have to work with each other to get the right grain to the port at the right time. When it comes to sharing, we talk daily. We talk weekly. We share information to make

November 27th, 2018Committee meeting

Michael Cory

Agriculture committee  Good morning, everyone. Thanks for the invitation. How are we doing? The crop year is off to a very strong start, in spite of some challenges caused by early weather issues across western Canada, which, in some regions, delayed the harvest by many weeks. To this point, CN is on

November 27th, 2018Committee meeting

Michael Cory

Agriculture committee  They're unhappy also, whether it's high port dwell with containers in Vancouver, ships in the Burrard Inlet, or lumber sitting on the ground that needs to be moved. This is a capacity and resiliency issue. If you get the right number of locomotives, people, and cars, then the fas

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  It's the same thing; we operate in the same areas in Vancouver. When I talk about the sharing of information, it's that integrated view of what the future holds for the commodity. We need that. We're very capital-intensive. It's not that we aren't going to invest, but we want t

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  Yes, that's correct.

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  Absolutely.

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  I'll say it one more time. We apologize, seriously, for not meeting the expectations of all the supply chains we're in, and we take it extremely seriously. The capital investment that we're making, which we'll continue to make, and our belief that we need to have integrated infor

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  This isn't just about grain; this is intermodal. As James mentioned earlier, this is the energy market. Every one of these markets hits records for us. This is more than just one commodity. We run a network. Whether it's shared assets of tracks or shared assets of locomotives o

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  Absolutely. We're just disappointed that we're not meeting the expectations of not just the supply chain but of our customers specifically. As James mentioned, we had a pretty tough run from late October in the fall. Again, we had unprecedented volumes that were moving, but then

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  We did. We acted on it before October, and it's not just the train crew, but locomotives as well. Then on top of that, the lead time for track capacity can be upwards of 12 to 18 months. We did everything possible we could to inject the resources, actually starting back in the la

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  I'll speak on our behalf. We have made considerable strides in the last three weeks since the bottoming out in February. As James mentioned earlier, everything we're doing right now—having retired employees come back, delaying vacations, hiring, leasing locomotives—is to clear th

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  We're exactly the same, in that 90% of our grain business is contracted. To James's point, reciprocal penalties are in place. The idea is to make the best use of the capacity in the fleet. The one thing that we continue to learn is how to understand our capacity and resiliency b

March 19th, 2018Committee meeting

Michael Cory

Agriculture committee  We're not a lot different. We had six quarters of either flat or decreasing volume demand. I can't really give you information on retention; however, our focus is to be ahead of that curve and to not get caught as short as we have been.

March 19th, 2018Committee meeting

Michael Cory