NYSE:NSC

Norfolk Southern reaches agreement in principle to settle East Palestine derailment class action

Retrieved on: 
Tuesday, April 9, 2024
District court, Norfolk Southern Railway, Settlement, Drinking water, Economic development, NSC

ATLANTA, April 9, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Tuesday that it has reached a $600 million agreement in principle to resolve a consolidated class action lawsuit relating to the East Palestine derailment. If approved by the court, the agreement will resolve all class action claims within a 20-mile radius from the derailment and, for those residents who choose to participate, personal injury claims within a 10-mile radius from the derailment.

Key Points: 
  • ATLANTA, April 9, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Tuesday that it has reached a $600 million agreement in principle to resolve a consolidated class action lawsuit relating to the East Palestine derailment.
  • If approved by the court, the agreement will resolve all class action claims within a 20-mile radius from the derailment and, for those residents who choose to participate, personal injury claims within a 10-mile radius from the derailment.
  • This is another promise kept by Norfolk Southern to make it right for the people of East Palestine and the surrounding communities.
  • This settlement furthers the work Norfolk Southern has done to make it right in East Palestine and the surrounding communities.

Norfolk Southern to announce first quarter 2024 earnings results on April 24, 2024

Retrieved on: 
Friday, April 5, 2024
MP3, News, NSC

ATLANTA, April 5, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) will announce its first quarter 2024 financial results during a live conference call and internet webcast at 8:45 a.m.

Key Points: 
  • ATLANTA, April 5, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) will announce its first quarter 2024 financial results during a live conference call and internet webcast at 8:45 a.m.
  • ET on Wednesday, April 24, 2024.
  • Quarterly earnings results will be released in advance of the call and a press release will be posted on the Investors page of the company's website.
  • For electronic notification of earnings events, subscribe to Investor Alerts , an email distribution list for the latest investor events, reports, news and more from Norfolk Southern.

Ancora Issues Letter to Fellow Shareholders Regarding Norfolk Southern’s Failures of Diligence and Poor Judgment in Appointing John Orr as COO

Retrieved on: 
Friday, April 5, 2024
Professional Services, Insurance, Finance, Asset Management, Consulting, Banking, Letter, Exercise, Canadian Pacific Railway, Precision, History, Transport, Disclosure, Surface Transportation Board, KCS, Road, Workplace, Employment, CPKC, Risk, Woman, CSX, Illinois Central Railroad, Safety, CSX Corporation, Depression, Canadian National Railway, EVP, PSR, Meridian Speedway, NSC, Annual general meeting, Weakness, Female, Behavior, Verbal abuse, Security (finance)

Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below letter to fellow shareholders regarding the Board of Directors’ (the “Board”) apparent failures of diligence and poor judgment in appointing John Orr as COO.

Key Points: 
  • Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below letter to fellow shareholders regarding the Board of Directors’ (the “Board”) apparent failures of diligence and poor judgment in appointing John Orr as COO.
  • Ancora is a sizable shareholder of Norfolk Southern, meaning our interests and your interests are squarely aligned.
  • The Board and Mr. Shaw provided CPKC with excessive financial and strategic consideration that weakens Norfolk Southern’s long-term competitive positioning.
  • Norfolk Southern operated from a position of desperation, and shareholders and other stakeholders now stand to pay a steep price.

Ancora Sends Letter to Norfolk Southern Shareholders Regarding the Three-Year Path to Superior Performance and Significant Value Creation

Retrieved on: 
Tuesday, March 26, 2024
Rail, Professional Services, Transport, Finance, Proxy, Norfolk Southern Railway, Letter, Annual general meeting, NSC

Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today announced that it is filing a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of seven highly qualified director candidates for election to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”) scheduled for May 9, 2024.

Key Points: 
  • Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today announced that it is filing a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of seven highly qualified director candidates for election to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”) scheduled for May 9, 2024.
  • Additionally, Ancora sent a letter to shareholders regarding its leadership team’s three-year path to superior performance and significant value creation at Norfolk Southern.
  • A copy of the letter sent to shareholders is available to download here .
  • For more information on how to vote for Ancora’s full slate on the BLUE Proxy Card, visit www.MoveNSCForward.com .

Ancora Details Serious Governance, Process and Competition-Related Issues Stemming from Norfolk Southern’s Appointment of John Orr as COO

Retrieved on: 
Wednesday, March 20, 2024
Rail, Professional Services, Transport, Finance, Employment, EVP, Canadian Pacific Railway, CPKC, Partnership, CSX, PSR, Meridian Speedway, Norfolk Southern Railway, NSC, Management

This decision was also made after the Board became aware of publicly filed legal actions involving Mr. Orr.

Key Points: 
  • This decision was also made after the Board became aware of publicly filed legal actions involving Mr. Orr.
  • Mr. Orr, who was hastily hired without a broad search and lacks Eastern railroad experience, does not appear to be the best available executive to implement PSR principles and help transform Norfolk Southern’s network.
  • Much to our disappointment, the Board refused to even speak with our proposed COO, Jamie Boychuk, who oversaw best-in-class operating metrics and network efficiencies at CSX.
  • Mr. Orr’s hire does not change our view that the Company continues to have the wrong CEO in Mr. Shaw and the wrong strategy in the form of “resilience” railroading.

The Port of Huntsville Marks Another Year of Growth in Intermodal Transportation

Retrieved on: 
Wednesday, March 27, 2024
Norfolk Southern Railway, HSV, Huntsville International Airport, Partnership, Boeing, City, Investment, Intermodal transport, Atmosphere, DSV, Middle Tennessee, Kerry Logistics, Port, United States Customs Service

HUNTSVILLE, Ala., March 27, 2024 /PRNewswire/ -- The International Intermodal Center at the Port of Huntsville announces another year of exceptional growth in 2023.

Key Points: 
  • HUNTSVILLE, Ala., March 27, 2024 /PRNewswire/ -- The International Intermodal Center at the Port of Huntsville announces another year of exceptional growth in 2023.
  • The Port of Huntsville saw rail lifts grow 24% in 2023 thanks to its unique amenities as North Alabama's inland port.
  • "The International Intermodal Center at the Port of Huntsville has proudly served North Alabama and South Central Tennessee with comprehensive, high-quality intermodal services since 1986," said Butch Roberts, CEO of the Port of Huntsville.
  • "Our partnership with the Port of Huntsville allows us to bring Alabama and Tennessee businesses access to major U.S. seaports.

Norfolk Southern appoints industry veteran John Orr as chief operating officer

Retrieved on: 
Wednesday, March 20, 2024
Growth, CPKC, Precision, Harvard Business School, History, Acquisition, Advanced Management Program, Transport, University, NS, Meridian Speedway, Safety, University of Waterloo, KCS, Shaw, National Railway, NSC, Engineering, Management

ATLANTA, March 20, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday the appointment of John Orr as executive vice president and chief operating officer, effective immediately. Throughout his four-decade career, Orr has earned a reputation as a proven leader in applying scheduled railroading principles to drive sustainable long-term value creation. He spearheaded the turnaround of Canadian Pacific Kansas City's (CPKC) Mexico operations by successfully implementing a high-efficiency operating model, shaped and guided the execution of Kansas City Southern's (KCS) service-focused scheduled railroading initiatives, and drove significant improvements in Canadian National Railway's (CN) safety and operational performance.

Key Points: 
  • ATLANTA, March 20, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday the appointment of John Orr as executive vice president and chief operating officer, effective immediately.
  • He will report directly to Norfolk Southern president and chief executive officer Alan H. Shaw.
  • In connection with Orr's appointment, current chief operating officer Paul Duncan departed the company to pursue other opportunities.
  • Alan Shaw, Norfolk Southern president and chief executive officer, said, "John is a deeply respected and accomplished leader, and is the right chief operating officer to ensure execution of our strategy of balancing safe service, productivity, and growth.

Norfolk Southern appoints corporate communications, compliance leaders

Retrieved on: 
Friday, March 15, 2024
Nag, EHS, Ethics, Colonial Pipeline, Culture, NSC, Corporate Affairs, Delta Air Lines, Embraer, Management

Talton-Buck joins Norfolk Southern from Delta Air Lines, where she spent 20 years of her career and most recently served as vice president – global public relations and reputation.

Key Points: 
  • Talton-Buck joins Norfolk Southern from Delta Air Lines, where she spent 20 years of her career and most recently served as vice president – global public relations and reputation.
  • Kolar will serve as a key advisor to Norfolk Southern's leadership on matters of regulatory compliance and compliance culture.
  • With 20 years of experience at Colonial Pipeline, a company with a similar operations focus and workforce to Norfolk Southern, Kolar brings experience in frontline compliance, ethics, field operations, and accounting.
  • "Norfolk Southern is further enhancing our compliance, operations, and regulatory oversight capabilities.

Ancora’s Proposed Directors and Management Team Release Statement and White Paper Regarding Opportunities for Enhanced Safety at Norfolk Southern

Retrieved on: 
Thursday, March 7, 2024
Professional Services, Finance, Safety, Rail transport by country, NSC, Judgement, Organization, Policy

“As proposed directors and executives, we continue to analyze Norfolk Southern’s challenges and opportunities with the focus and intensity of a sitting corporate leadership team.

Key Points: 
  • “As proposed directors and executives, we continue to analyze Norfolk Southern’s challenges and opportunities with the focus and intensity of a sitting corporate leadership team.
  • We realize that the most important assets of any railroad are its experienced operators.
  • Conductors, engineers and other workers on the railroad are the essential factor in ensuring safe and productive operations.
  • Today, we are announcing our firm support for a policy that would ensure that every Norfolk Southern train operating on a mainline has a two-person crew.

Ancora Urges Norfolk Southern’s Board to Immediately Replace Current Leadership Following New Train Derailment in Pennsylvania

Retrieved on: 
Saturday, March 2, 2024
Rail, Professional Services, Transport, Finance, Annual general meeting, Soil, Embarrassment, Pension, News, Nature, Norfolk Southern Railway, Health, Safety, NSC, City, Accident, Water, Tunnel

Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below statement regarding the Company’s latest derailment.

Key Points: 
  • Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below statement regarding the Company’s latest derailment.
  • As a reminder, we recently announced the nomination of eight highly qualified, independent candidates (the “Investor Slate”) for election to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders.
  • “We hope the crew and everyone in Lower Saucon Township are unharmed by yet another derailment of a Norfolk Southern train.
  • Images of diesel-filled locomotives lying on their sides underscore the urgent need to replace the Company’s failed executive leadership and provide this railroad the fresh start it so desperately needs.