LITTLE ROCK, Ark. — A vast majority of Norfolk Southern customers believe an activist investor’s plans for the railroad would worsen service and prompt them to shift some of their freight to truck or rival CSX, according to a Stephens, Inc. shipper survey released today. The Arkansas-based investment bank found that 91% of shippers believe […]
ATLANTA — Norfolk Southern today delivered the first coal train diverted from the closed Port of Baltimore to the railroad’s Lambert’s Point coal terminal in Norfolk, Va. The collapse of the Francis Scott Key Bridge following a March 26 strike by a container ship blocked access to the NS-served Consol coal terminal. “At Norfolk Southern, […]
ATLANTA — Norfolk Southern has acquired Great Lakes Reload’s Chicago transload warehouse facility, which handles inbound loads of steel and outbound loads of agricultural and construction equipment. NS said the deal, announced on Tuesday, advances its strategy to convert so-called flexible freight to rail. Flexible freight can move via truck or rail. “Transloading solutions play […]
ATLANTA – Norfolk Southern today urged shareholders to back its board and management team in its proxy battle, saying that the plans touted by activist investor Ancora Holdings amount to a “slash and burn” strategy that would hurt service and safety. Ancora wants to gain control of the NS board and name former UPS executive […]
CLEVELAND — An activist investor group says its proposed Norfolk Southern management team would improve the railroad’s operations, service, and profitability by jettisoning CEO Alan Shaw’s resilience strategy and adopting the low-cost Precision Scheduled Railroading operating model. In a letter to shareholders today, Ancora Holdings says its plan for NS would cut costs, focus on […]
ATLANTA — Norfolk Southern has increased the length of its grain shuttle trains to 105 cars from 85, a move that allows the railroad to handle 23% more grain in each train. “We’re unlocking capacity to handle more business for both our current and prospective customers,” Chief Marketing Officer Ed Elkins said in a statement. […]
ATLANTA — Norfolk Southern today named Canadian Pacific Kansas City executive John Orr as its chief operating officer in a bid to thwart an activist investor group led by Ancora Holdings. CEO Alan Shaw said Orr is committed to providing customers with a high level of service as part of the railroad’s resiliency-based growth plan. […]
ATLANTA — Amid a proxy fight with an activist investor, Norfolk Southern on Wednesday will name Canadian Pacific Kansas City executive John Orr as its chief operating officer, Trains News Wire has learned. Orr brings a Precision Scheduled Railroading operations background — which is prized on Wall Street — to Norfolk Southern as the company […]
ATLANTA — Norfolk Southern has named Betsy Talton-Buck as vice president and chief communications officer, and Angie Kolar as vice president and chief compliance officer. The appointments, announced Friday, March 15, are effective on Tuesday, April 9. Both positions report to Nabanita Nag, executive vice president, corporate affairs and chief legal officer. Talton-Buck was previously […]
WASHINGTON — Surface Transportation Board Chairman Martin J. Oberman says he’s disappointed that executives from Ancora Holdings, the activist investor firm engaged in a proxy battle with Norfolk Southern, have yet to schedule a meeting to discuss its goals for the railroad. Ancora Holdings Group Chairman and CEO Frederick DiSanto and Ancora Alternatives President James […]
AKRON, Ohio — A federal court has ruled against Norfolk Southern in a suit seeking to share cleanup costs for the February 2023 East Palestine derailment with railcar owners and the maker of the vinyl chloride involved in the incident. In a decision filed Wednesday, Judge John R. Adams of the U.S. District Court for […]
ATLANTA — Norfolk Southern and Florida East Coast have announced further expansion of their international and domestic interline service, with logistics, marine, and energy company Crowley using the two railroads’ Florida Express service to move textile products to and from Charlotte, N.C., for garment and apparel manufacturing. “We are focused on providing reliable service and […]
