takeover of Norfolk Southern Corporation by Canadian Pacific Railway
Chicago City Council Resolution February 10, 2016
Subject: Canadian Pacific Railway's Hostile Takeover Proposal of Norfolk Southern Corporation
Whereas, the Canadian Pacific Railway has proposed an acquisition ofthe Norfolk Southern Corporation, and
Whereas, the Norfolk Southern Railway Company, a wholly owned operating subsidiary of Norfolk Southern Corporation, operates more rail yards and intermodal facilities in the City of Chicago than any other Class I freight railroad, and
Whereas, Norfolk Southern employs a diverse workforce among its more than 600 Chicago-based employees including approximately 50% whom are of a minority descent, and
Whereas, Norfolk Southern operates four major intermodal facilities in the City of Chicago located at 361 West 47th Street, 169 East 63rd Street, 2040 East 106th St and 7540 South Western Avenue, and
Whereas, these four intermodal facilities provide a competitive edge to Chicago manufacturers and distributors connecting Chicago businesses to more markets in the Northeast, Mid-Atlantic and Southeast than any other railroad, and
Whereas, Norfolk Southern has invested tens of millions of dollars into each facility in recent years to accommodate the growth of business resulting in construction jobs for many Chicagoans, and
Whereas, the logistics savings to Chicago shippers from these four facilities generates billions of dollars of economic impact and millions of dollars of tax revenue to Chicago annually, and
Whereas, Norfolk Southern's other large rail yards within the City are located at 4016 South Ashland Avenue, 13227 South Torrence Avenue, and 2040 East 106th Street, and
Whereas, these rail yards provide critical service to rail shippers throughout the City including the Stockyards and the Port of Chicago, and
Whereas, Amtrak's Pere Marquettte, Wolverine, Blue Water, Capitol Limited, and Lake Shore Limited trains operate on Norfolk Southern in Chic...
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