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Ancora Holdings, the activist investor leading a proxy fight against Norfolk Southern, says it’s taking the high road and conducting a fact-based campaign to oust the railroad’s management. The reality is that Ancora is stuck on the misinformation highway with a safety white paper that makes several claims that can’t hold up to scrutiny. Ancora’s […]
CHICAGO — Upgrading speeds and capacity or simply keeping tracks well-maintained for passenger trains has tradeoffs that often compromise a rail corridor’s ability to provide meaningful mobility while the work is going on. An example will occur in Michigan beginning May 6, when Amtrak and the state of Michigan jointly made the decision to suspend […]
FORT WORTH, Texas — BNSF Railway eliminated several hundred management positions at its headquarters and across the system last week as part of a belt-tightening move. The railroad did not disclose how many jobs were affected, but people familiar with the matter say that BNSF cut 8% of its management workforce. That would translate into […]
WASHINGTON — When the Surface Transportation Board names the members of its first Rail Passenger Advisory Committee, it will be worth remembering that the competition for places among the panels 18 voting members was fiercer for some seats than for others. As outlined in the January call for nominations, the panel has a very specific […]
WASHINGTON — The Transportation Trades Division of the AFL-CIO today urged Norfolk Southern shareholders to reject an activist investor’s bid to gain control of the railroad. Ancora Holdings, which has been critical of Norfolk Southern’s response to the Feb. 3, 2023, hazardous materials derailment in East Palestine, Ohio, as well as the railroad’s lagging financial […]
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 […]
