Norfolk Southern Corp

Norfolk Southern unions, pensions should back activist Ancora: ISS

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Norfolk Southern unions, pensions should back activist Ancora: ISS

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled “Improving Rail Safety in Response to the East Palestine Derailment” in Washington, U.S., March 22, 2023.  Evelyn Hockstein | Reuters Norfolk Southern-invested unions and pension funds should back activist Ancora’s full seven-director slate at the railroad’s shareholder meeting … Read more

ISS endorses most of Ancora nominees for Norfolk Southern board

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ISS endorses most of Ancora nominees for Norfolk Southern board

Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC Influential proxy advisory firm ISS recommended on Tuesday that Norfolk Southern shareholders support five of activist Ancora’s seven board nominees, withholding an endorsement from CEO pick Jim Barber but describing him as a “credible director and CEO candidate nonetheless.” ISS’ endorsement comes one day after Glass … Read more

Glass Lewis endorses 6 Ancora nominees

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Glass Lewis endorses 6 Ancora nominees

A Norfolk Southern train is en route on Feb. 14, 2023 in East Palestine, Ohio. Earlier in the month a derailment sent millions of pounds of toxic chemicals into the environment and forced thousands of people to evacuate. Angelo Merendino | Getty Images News | Getty Images Activist investor Ancora received a powerful endorsement in … Read more

Activist Ancora endorsed by second Norfolk Southern union

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Activist Ancora endorsed by second Norfolk Southern union

Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC A second Norfolk Southern union said Friday it would back activist Ancora’s efforts to elect seven directors and oust CEO Alan Shaw, a sign of labor dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern’s shareholder meeting nears. The BLET Teamsters, which represents … Read more

Activist Ancora wins Teamster union support

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Activist Ancora wins Teamster union support

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

Imports from China to US are rising at fastest rate since last fall

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Imports from China to US are rising at fastest rate since last fall

A batch of cars are ready to be shipped to overseas markets at the port of Taicang, Jiangsu province, China, April 9, 2024.  Future Publishing | Future Publishing | Getty Images Inflation is on the rise again, but it isn’t the only economic indicator rebounding. Imports coming to the U.S. from China are experiencing a … Read more

NSC COO John Orr has history of abusive behavior, activist Ancora says

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NSC COO John Orr has history of abusive behavior, activist Ancora says

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

New CSX Baltimore crisis rail delivers first diverted cargo shipments

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New CSX Baltimore crisis rail delivers first diverted cargo shipments

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

New freight crew rule tests rail industry’s clout, one year after East Palestine disaster

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New freight crew rule tests rail industry’s clout, one year after East Palestine disaster

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

Why you should check the share count before buying a stock

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Why you should check the share count before buying a stock

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