Associations representing railroad shippers say they’re concerned about Ancora Holdings’ proxy battle at Norfolk Southern, fearing that the activist investors will put an emphasis on boosting short-term profits at the expense of service. “Seems as if NS is making strides on improving service which, to a certain degree, means abandoning some of the Precision Scheduled […]
ATLANTA — Norfolk Southern CEO Alan Shaw, who has been a punching bag for the activist investors who are trying to oust him, defended the railroad’s growth strategy at a shipper conference today. “I am fighting. I am fighting for what’s right and I am fighting for the industry,” Shaw told the Southeast Association of […]
NEW YORK — Norfolk Southern and RapidSOS, which provides secure data information to first responders, have unveiled a rail safety system to increase availability of critical information at significant incidents. The collaborative effort announced today will be free to public safety agencies across the U.S. It will provide access to cargo and hazardous material information, […]
The proxy battle that activist investor Ancora Holdings is waging against Norfolk Southern isn’t just about the direction NS should take and who should run the company. It’s a fight for the future of the railroad industry. The Cleveland-based activist investor seems to be taking the position that railroads shouldn’t grow. They argue that intermodal, […]
INDEPENDENCE, Ohio — The Brotherhood of Locomotive Engineers and Trainmen today said it will “vigorously oppose” an activist investor’s attempt to gain control of the Norfolk Southern board and oust CEO Alan Shaw and Chief Operating Officer Paul Duncan. Cleveland-based Ancora Holdings is waging a proxy battle and has proposed a slate of eight directors […]
FRONT ROYAL, Va. — The Brotherhood of Railroad Signalmen has become the first rail labor union to come out against the activist investor group that’s plotting to oust Norfolk Southern CEO Alan Shaw and gain control of the railroad’s board. The union today expressed “grave concern” with Ancora Holdings’ proxy battle. The union said Ancora […]
WASHINGTON — Federal Railroad Administrator Amit Bose, in a Wednesday letter to Norfolk Southern CEO Alan Shaw, has cautioned against “backsliding, as a result of a change in leadership or otherwise, on the safety-oriented path” the railroad has established since the February 2023 East Palestine derailment. Bose’s letter comes in response to an effort by […]
CLEVELAND — Activist investor Ancora Holdings Group, which seeks to oust current Norfolk Southern CEO Alan Shaw, would replace him with former United Parcel Service President Jim Barber Jr., the investment group said today in announcing its slate of eight candidates for the company’s board of directors. Jamie Boychuk, former CSX executive vice president of […]
ATLANTA — Norfolk Southern replaced 556 miles of rail last year, the highest tally since 1990, the railroad said today. NS’s capital production gangs broke productivity records by laying 35 more track miles of rail than in 2022, while using the same number of rail installation teams. “The Norfolk Southern Engineering Department truly came together […]
ATLANTA – Norfolk Southern’s engineering team completed $1 billion in improvement projects last year, including installation of new wayside detectors as well as repairs and replacement of tracks, bridges, and grade crossings. “Our extensive infrastructure work is an important component of being a customer-centric, operations-driven railroad and represents an investment in the safety of our […]
WASHINGTON — The National Transportation Safety Board is investigating a Norfolk Southern employee fatality that occurred Wednesday in Decatur, Ala., the agency announced today. An NTSB spokesman said in an email that the incident occurred about 5:15 p.m. when a locomotive engineer was struck by freight cars. Additional information about the exact circumstances of the […]
WASHINGTON — Surface Transportation Board Chairman Martin J. Oberman says he’s concerned about reports that an activist investor plans to launch a proxy fight to oust Norfolk Southern CEO Alan Shaw. “Is this an investor whose goal it is to reinstate the bad old days when the marching orders to the C-suite were to cut, […]
