Norfolk Southern shareholders should elect five of an activist investor’s seven board candidates but retain embattled CEO Alan Shaw, proxy advisory firm Institutional Shareholder Services recommended today. If institutional shareholders follow the ISS guidance at the NS annual meeting on May 9, it would leave Ancora Holdings two seats short of a majority on the […]
FORT WORTH, Texas — BNSF has informed customers that it will take a week to 10 days for service to “improve and fully normalize” on its Southern Transcon in the wake of the derailment and fire that closed the line near the Arizona-New Mexico state line for three days. In a Monday service advisory, the […]
Pere Marquette is the newest heritage unit to join the growing CSX fleet of locomotives honoring its predecessor railroads. “Here is our latest CSX Heritage Locomotive celebrating the Pere Marquette line,” CEO Joe Hinrichs wrote on LinkedIn Monday night. “Locomotive #1899 represents the three Michigan-based railroads that merged to form the Pere Marquette to serve […]
CHICAGO — Surface Transportation Board Chairman Martin J. Oberman has joined the list of speakers scheduled to appear at the North American Rail Shippers Conference, beginning tomorrow, April 30, and running through May 2 in Chicago. Oberman last week announced he would retire from the STB chairmanship on May 10 [see “STB’s Oberman sets May […]
OMAHA, Neb. — Union Pacific today took the wraps of its first mother-slug set of hybrid switching locomotives that can run on diesel fuel or batteries. The units, SD40-2 slug set UPY No. 409 and UPY No. 309, were converted at the railroad’s Jenks Locomotive Shop in North Little Rock, Ark., and will begin testing […]
News & Products for the week of April 29th 2024 Model railroad operators and builders can get the latest information about locomotives, freight cars, passenger cars, tools, track, and more by reading Model Railroader’s frequent product updates. The following are the products Model Railroader editors have news on for the week of April 29th […]
Norfolk Southern says activist investor Ancora Holdings violated the Railway Labor Act when it negotiated a deal with the general chairmen of the Brotherhood of Locomotive Engineers and Trainmen in exchange for the union’s support in its proxy campaign. The BLET in February was vehemently opposed to Ancora’s plan to oust Norfolk Southern’s management and […]
PORTLAND, Ore. — A Union Pacific train derailed early this morning at the east end of Portland’s historic Steel Bridge, closing the heavily used bridge while authorities assessed its structural integrity. The derailment also meant the vertical lift portion of the bridge could not be raised, impacting ship traffic on the Willamette River. “The issue […]
PRESCOTT, Kan. — It’s been a rough few days for BNSF Railway. In the latest incident, the railroad advised customers today (Monday, April 29) of a washout that occurred Sunday afternoon near Prescott, Kan., on its Fort Scott Subdivision. In an updated report, BNSF announced the line had been reopened at 2:15 p.m. CT. Prescott […]
In a significant boost to activist investor Ancora Holdings, one of the two major proxy advisory firms has recommended that Norfolk Southern shareholders vote in favor of six of its seven dissident board candidates. Glass Lewis made the recommendation in a report issued on Sunday, which concludes that Ancora has made a compelling case that […]
Industry observers had wondered why the Brotherhood of Locomotive Engineers and Trainmen — which had vehemently opposed an activist investor’s plans to oust Norfolk Southern’s management team — flip-flopped on Friday and decided to support Ancora Holdings’ calls for change at the railroad. The reason became apparent on Sunday, when the SMART-TD union that represents […]
LEE’S SUMMIT, Mo. — The engineer and conductor of a Union Pacific train were transported to a local hospital with non-life-threatening injuries following a derailment early this morning, the Lee’s Summit Fire Department reports. The fire department responded to a call at approximately 12:45 a.m. of a derailment in the Unity Village area between Rhinehart […]
