A Canadian rail strike is likely in late August, CPKC CEO Keith Creel says (trains.com)

In Order No. 4257, which examined the current ratemaking system, the Commission identified three principal areas of the PAEA system that encapsulate the nine objectives: (1) the structure of the ratemaking system; (2) the financial health of the Postal Service; and (3) service. The Commission concluded that the system had achieved some of the goals of these areas, but the overall system had not achieved the objectives taking into account the factors of the PAEA. In brief, the Commission’s findings were as follows: *The system was largely successful in achieving the goals related to the structure of the ratemaking system. However, the Commission concluded that the ratemaking system had not increased pricing efficiency. *The system had not maintained the financial health of the Postal Service as intended by the PAEA. While the Postal Service had generally achieved short-term financial stability, both medium-term and long-term financial stability measures had not been achieved. *High-quality service standards had not been maintained during the 10 years following the enactment of the PAEA.

South Dakota’s Supreme Court affirms a lower court ruling against a state law designed to challenge the prevailing law that allows many online retailers to avoid collecting sales tax. Since the birth of e-commerce, online retailers have been shielded from the requirement to collect sales tax from consumers who live in those states where the retailer does not have a physical presence, such as an office, store or warehouse. The U.S. Supreme Court likely will soon have the chance to change that. The question of whether out-of-state online retailers can be required to collect sales tax moved a big step closer to the nation’s highest court today when the South Dakota Supreme Court upheld a lower court’s decision barring enforcement of a 2016 state law that requires larger e-retailers to collect sales tax from South Dakota residents and remit them to the state. Click Read More below for additional detail.

Costco Wholesale Corporation announced its operating results for the first quarter (twelve weeks) of fiscal 2022, ended November 21, 2021. Net sales for the first quarter increased 16.7 percent, to $49.42 billion from $42.35 billion last year. Net income for the quarter was $1,324 million, $2.98 per diluted share, compared to $1,166 million, $2.62 per diluted share, last year. This year included a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation, and a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share. Last year included tax benefits of $145 million, $0.33 per diluted share, and incremental expenses for COVID-19 premium wages of $212 million pre-tax, $0.35 per diluted share.