Jeff Pieters at the Post Bulletin tweeted this article, Ex-DM&E chief: Railroad owes him $4 million more, from the Sioux Falls Argus Leader:
The Sioux Falls man who lost his job as a railroad boss to a corporate merger is locked in a bitter dispute over his severance package.
A lawsuit filed by the Dakota, Minnesota and Eastern Railroad against former CEO Kevin Schieffer puts a sour ending on a business relationship that turned around a failing company and almost produced the largest railroad expansion in 100 years.
Schieffer left the Dakota, Minnesota & Eastern Railroad in October 2008 after Canadian Pacific bought the company for more than $1.5 billion. He wanted to lay track into Wyoming to haul coal east from the Powder River Basin. Instead, Schieffer is at least the second employee to contest his compensation after the takeover by the Canadian company was completed in September. . . .
Read the whole article at the Argus. A friend who has followed the issue since 2006 tells me there's more to the story. Will the struggle between Mayo Clinic and the Rochester Coalition and farmers over the proposed bypass move into the headlines with this development? Stay tuned.
Photo: Former DM & E railroad tycoon Kevin Schieffer.
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