The Canadian Press

2001-09-26 | Canadian-Pacific-OBrien

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It took just an hour for Canadian Pacific shareholders to endorse a plan to split the conglomerate into five separate, publicly traded, companies. Canadian Pacific President David O'Brien said the timing for the September 26th move was good. (The new separate companies included PanCanadian Petroleum, Fording Coal, Fairmont Hotels, CP Ships and CP Rail.)

Date: 2001-09-26
Placeline: Calgary, AB, Canada
Source: The Canadian Press
Length: 24 seconds

Transcript Prediction: << it was lucky and in our case that we did it from a position of strength as I observed on another occasion sometimes companies are forced into that when they were in financial distress we couldn't be stronger financially are results of been the norm as we made over a billion dollars in the first six months of this year all the companies have strong balance sheets and they're well prepared for whatever may come >>

Clip ID: 20010926CPCN001