CLEVELAND — Continuing attacks on current management at Norfolk Southern, board nominees of investor Ancora Holdings have issued a “white paper” on last Saturday’s three-train NS collision in Pennsylvania in which they outline what they say would be safety upgrades at the railroad and question the current operating culture. The investment group launched a proxy […]
LOWER SAUCON TOWNSHIP, Pa. — A National Transportation Safety Board investigator has filled in town officials on additional details of last weekend’s incident collision and derailment involving three Norfolk Southern trains, saying a total of nine railcars derailed in the incident, WFMZ-TV reports. Ruben Payan, who is leading the NTSB team looking at train operations, […]
WASHINGTON — The controlled burn of vinyl chloride following last year’s derailment in East Palestine, Ohio, was unnecessary, National Transportation Safety Board chair Jennifer Homendy told a Senate hearing today — and might have been avoided with better communication. Homendy, testifying at a Committee on Commerce, Science, and Transportation hearing on NTSB investigations, said in […]
What was your first byline in Trains? Steve Smedley: My first byline in Trains was “Confessions of a ‘Sacred Central Illinois’ railfan,” published in the July 2000 issue. By far the most enjoyable article I have produced. Since I worked second shift at The Pantagraph newspaper based in Bloomington, Ill., and prior to that at […]
Norfolk Southern needs to make some concessions to activist investor Ancora Holdings if the railroad wants to maintain control of its board and keep its current management team, retired Canadian National CEO JJ Ruest says. Ruest knows a thing or two about proxy battles: He tamped down activism from one of CN’s largest investors after […]
TORONTO — EdgePoint Investment Group, which has a $960 million stake in Norfolk Southern, today praised the proxy battle that activist partner Ancora Holdings is waging against the railroad. “EdgePoint supports the changes proposed by Ancora to NSC’s board of directors and management team,” EdgePoint said in a statement. Ancora has proposed a majority slate […]
LOWER SAUCON TOWNSHIP, Pa. — National Transportation Safety Board investigators have released control of the site of Saturday’s collision and derailment involving three trains to Norfolk Southern for its crews and contractors to address cleanup, the Allentown Morning Call reports. The NTSB turned the site over to NS late this afternoon [Sunday, March 3], but […]
LOWER SAUCON TOWNSHIP, Pa. — The National Transportation Safety Board is investigating a derailment involving three Norfolk Southern trains that occurred today (Saturday, March 2) near Allentown, Pa., the safety agency said on social media site X. The incident sent two locomotives partially into the adjacent Lehigh River; NS reported diesel fuel and a small […]
CLEVELAND – Activist investor Ancora Holdings has asked the Norfolk Southern board to explain why it gave CEO Alan Shaw a 37% raise last year despite presiding over the industry’s worst financial results, poor stock performance, and the railroad’s “ineffective and tone-deaf response” to the hazardous materials derailment in East Palestine, Ohio. “It is astonishing […]
ATLANTA — The activist investors targeting Norfolk Southern pose a threat to the railroad industry and the U.S. economy and may prompt new regulations, outgoing Surface Transportation Board Chairman Martin J. Oberman told a shipper conference today. Oberman was highly critical of Ancora Holdings’ proxy battle against NS, along with its efforts to replace current […]
WASHINGTON — The Norfolk Southern engineer killed in a Jan. 31 incident in Decatur, Ala., suffered fatal injuries when his locomotive was struck by a group of 35 railcars rolling on an adjacent track, the National Transportation Safety Board said in a preliminary accident report released today (Wednesday, Feb. 28). The incident occurred about 4:15 […]
ATLANTA — Amid its proxy fight with an activist investor, Norfolk Southern today nominated former Amtrak and Delta Air Lines CEO Richard Anderson and former U.S. Sen. Heidi Heitkamp to serve on the company’s board of directors. The NS board also confirmed its unanimous support for CEO Alan Shaw and the railroad’s “better way forward” […]
