WASHINGTON — Nighttime visibility made it impossible for the train engineer to prevent or mitigate the accident in which a Norfolk Southern conductor trainee was struck and killed by protruding metal from a gondola car on an adjacent track in a incident in Bessemer, Ala., the National Transportation Safety Board said in the final report […]
ATLANTA — Norfolk Southern, which remains under pressure from an activist investor, today took the unusual step of releasing preliminary first quarter financial results, which included a $600 million proposed settlement of a class action lawsuit related to the East Palestine, Ohio, hazardous materials wreck. Including the impact of the settlement, the railroad’s operating income […]
CLEVELAND – Ancora Holdings’ campaign to oust Norfolk Southern’s management team last week gained the support of New York investment management firm Neuberger Berman, which said it has concerns about the railroad’s operations, strategy, safety, and service. “We believe a change in management and refreshment of the board … are warranted and could stimulate improved […]
ATLANTA – Norfolk Southern has pruned its intermodal network and made the operating ratio a key component of its executive compensation plans, the railroad announced yesterday amid its proxy battle with activist investor Ancora Holdings. NS has eliminated 53 low-volume intermodal lanes — or 15% of its intermodal network — that had limited growth prospects. […]
Class I railroads can continue business as usual and watch their earnings stagnate and profitability fall as their freight volume declines through 2030. Or they can make meaningful service improvements, become easier for customers to deal with, and launch new intermodal services that capture freight from trucks. Adopting a successful growth strategy will boost revenue, […]
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 […]
Carl Jensen, manager of the Norfolk Southern Steam Program from 1986 to 1994, died on March 25, 2024, in Roanoke, Va. He was 87. His leadership was instrumental in guiding the program, and the travels of locomotives Nos. 611 and 1218, almost to its end. He also had a lengthy association with the National Railway […]
WASHINGTON — The National Transportation Safety Board is looking at Norfolk Southern rules, procedures, and crew training relating to train handling as it continues its investigation into the collision and derailment involving three trains that occurred March 2 in Lower Saucon Township, Pa., according to the preliminary investigation report issued today (Tuesday, March 26). The […]
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 […]
