ATLANTA – Former Canadian National CEO Claude Mongeau has been appointed chair of Norfolk Southern’s board of directors, the railroad announced today. The board unanimously chose Mongeau to lead the board, which has five new members — including three who were nominated by activist investor Ancora Holdings as part of its proxy battle with the […]
WASHINGTON — Norfolk Southern reached a $310 million settlement today with the U.S. Environmental Protection Agency and the Justice Department regarding cleanup and ongoing monitoring in East Palestine, Ohio, which was the site of a disastrous hazardous materials derailment last year. The agencies said the agreement, which must be approved by a federal court, holds […]
CSX and Norfolk Southern expect to resume normal export coal operations at the port of Baltimore in the coming days now that the 50-foot shipping channel has been reopened in the wake of the deadly collapse of the Francis Scott Key Bridge. The March 26 collapse of the bridge following a ship strike blocked marine […]
EAST PALESTINE, Ohio — Norfolk Southern on Thursday donated its station in East Palestine to the city, following up on a pledge made last year in the wake of the February derailment and chemical release in the community. The Times Leader newspaper reports that NS CEO Alan Shaw turned over the keys to the building […]
ATLANTA – Norfolk Southern CEO Alan Shaw trounced the activist investor’s chief executive candidate during last week’s proxy contest, according to a final tally of shareholder votes the railroad released today. Shaw received the backing of 64.1% of the investors who voted for board candidates in the days leading up to Thursday’s annual shareholder meeting. […]
ATLANTA — With a bruising proxy battle now behind it, Norfolk Southern now must deliver on the promises the railroad has made, CEO Alan Shaw said in a video message to employees today. “It was a good day for Norfolk Southern,” Shaw said of Thursday’s annual meeting of shareholders, where investors backed the railroad’s management […]
Railfan Road: Virginia’s 460 has all the elements: tracks generally within sight, a legendary grade, interesting endpoints, rail attractions along the way, and reasonable train density (including two Amtrak routes). Some unique cuisine and non-rail history along the way even make it palatable for the non-railfans in the car. The 225-mile trip between Roanoke and […]
ATLANTA — Norfolk Southern shareholders delivered a split verdict today, sparing CEO Alan Shaw while electing three of activist investor Ancora Holdings’ insurgent director candidates and ousting its independent chair, Amy Miles. Investors sent a clear message that ends the bitter proxy fight. They backed Ancora’s desire for change but sought to give Shaw & […]
PITTSBURGH — East Ohio Valley Railway, one of the seven railroads of Transtar LLC, will more than double its operating mileage through a long-term lease of rail lines in the Powhatan Point, Ohio, area, Transtar has announced. The East Ohio Valley, currently 12.2 miles, will add a total of 18 miles through lease from Norfolk […]
If activist investor Ancora Holdings wins its Norfolk Southern proxy battle this week, its new management team aims to generate unprecedented growth in carload traffic over the next four years. Ancora plans to run the same playbook that CSX has used since it shifted to a Precision Scheduled Railroading operating plan in 2017. Improve your […]
MOBILE, Ala. —“Hopeful” is the key word in the status report on Gulf Coast passenger service submitted by Amtrak, CSX, Norfolk Southern, and the Port of Mobile to the Surface Transportation Board last week. The May 1 report was required by the STB after a February hearing and subsequent explanation of delays was short on […]
CLEVELAND — With less than a week to go in its Norfolk Southern proxy fight, activist investor Ancora Holdings has questioned the railroad’s service improvements, won support from a small proxy advisory firm, and sought to woo shareholders with a letter from CEO candidate Jim Barber Jr. NS has touted the pace of operational improvements […]
