Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor’s efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad’s 13-person board. The labor group said it would back the activist’s seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on … Read more
A Key Bridge Response 2024 Unified Command image of response crews remove shipping containers using a floating crane barge after the cargo ship Dali struck and collapsed the Francis Scott Key Bridge, on April 7, 2024 in Baltimore, Maryland. Handout | Getty Images News | Getty Images The process of removing shipping containers from the … Read more
A general view of the exterior of the headquarters of Norfolk Southern on April 1, 2023 in Atlanta, Georgia. Icon Sportswire | Getty Images Norfolk Southern is almost two months into a battle with activist investor Ancora, which is trying to shake up the railroad’s board and oust CEO Alan Shaw. Now the firm is … Read more
Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. “We will keep this in play for the duration of the port closure,” said Mark Schmidt, vice … Read more
A Union Pacific freight train is seen traveling on April 21, 2023 in Round Rock, Texas. Brandon Bell | Getty Images One year after the East Palestine, Ohio train derailment created an environmental disaster, the Biden administration on Tuesday unveiled new regulations intended to shore up freight rail safety. A new rule finalized by the … Read more
CSX train at Seagirt Marine Terminal, Port of Baltimore. Baltimore Sun | Tribune News Service | Getty Images CSX is starting a new dedicated freight rail service between Baltimore and New York for its clients on Tuesday to help mitigate the trade disruption as a result of the closure of the Port of Baltimore after … Read more
More than half of the stocks in the S & P 500 hit new 52-week highs in the first quarter, leaving us to puzzle over how this all happened. We act as if it’s all about the earnings or the actions of the Federal Reserve. But maybe it is something else. Maybe it’s the share … Read more
We don’t know what we want. This week, we will find out what it is that will propel us forward or turn us back after the S & P 500 on Friday closed at a new record high for the first time in more than two years. For example, we have three rails that report … Read more
