Norfolk Southern says that activist investor Ancora Holdings’ detailed plan for the railroad, released last week in a 193-page presentation, contains misleading operational data and vastly overstated cost-savings projections. Ancora says its proposed management team would reduce costs by $800 million through a full-blown implementation of the low-cost Precision Scheduled Railroading operating model at NS. […]
AUGUSTA, Maine — Railroads in Maine face new requirements for reporting the transport of hazardous materials in the state after Gov. Janet Mills signed an emergency bill into law on Friday, the Portland Press Herald reports. LD1937 was introduced last year following a Rockwood, Maine, derailment and fire that saw three crew members injured [see […]
The Atlas O Spring 2024 Premier catalog was recently published on the manufacturer’s website. Highlights include three locomotives, assorted 60-foot heavyweight passenger cars, four freight cars, a snow plow, pedestrian walkways, and an upgraded 24”-diameter turntable. All of the models are scheduled for release in the fourth quarter of 2024. Steam and diesel locomotives The […]
Trains sat down with Norfolk Southern CEO Alan Shaw and new Chief Operating Officer John Orr today to discuss the railroad’s strategy and response to activist investor Ancora Holdings. Ancora has launched a proxy battle to gain control of the Norfolk Southern board, and wants to appoint former UPS executive Jim Barber Jr. as CEO […]
Jamie Boychuk, the activist investor candidate aiming to lead operations at Norfolk Southern, says improvements the railroad has made in recent weeks under new Chief Operating Officer John Orr — like increasing train velocity, reducing dwell, and removing 75 locomotives from active service — are low-hanging fruit that will help reduce the operating ratio by […]
News & Products for the week of April 15th 2024 Model railroad operators and builders can get the latest information about locomotives, freight cars, passenger cars, tools, track, and more by reading Model Railroader’s frequent product updates. The following are the products Model Railroader editors have news on for the week of April 15th […]
GE’s B30-7 In the late 1970s, General Electric introduced the B30-7, a 16-cylinder, 3,000-hp, four-axle locomotive designed for road service. Virtually identical externally to the B23-7 model offered at the same time, the B30-7 ended up with less orders, though it did sell more variations than its 12-cylinder, 2,250-hp cousin. The launch customer for the […]
Former UPS executive Jim Barber Jr., an activist investor’s candidate to replace Norfolk Southern CEO Alan Shaw, says his experience at the parcel giant is directly applicable to a railroad. UPS’s package network relies on the very same principles as the low-cost Precision Scheduled Railroading operating model that Ancora Holdings wants to fully implement at […]
MIAMI — Florida’s railroad industry is applauding one provision of a wide-ranging transportation bill signed last week by Gov. Ron DeSantis that increases penalties for failure to yield or provide sufficient clearance at a grade crossing. The updated provisions in HB 1301 set penalties of a fine of $500, 25 hours of community service, and […]
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. […]
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 […]
