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BLET News

STB’s Robert Primus: Deja vu, all over again

As yet another hedge fund seeks a hostile takeover of a Class I railroad, Surface Transportation Board Member Robert Primus condemned the “scorched-earth” cuts associated with Precision Scheduled Railroading in a guest column published by Progressive Railroading. He...

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BLET General Chairmen say proposed changes for Norfolk Southern by hedge fund Ancora are “bad for investors,” “reckless,” and “likely to lead to more train wrecks”

The BLET General Chairmen who represent members at Norfolk Southern (NS) have taken the side of current railroad leadership as hedge fund Ancora Holdings attempts to take over the company and double-down on Precision Scheduled Railroading. Earlier this month,...

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Daily Headlines

Moffat Tunnel wastewater spill highlights rail safety issues for Colorado

As Colorado lawmakers this month prepare to do something that Congress has been incapable of for more than a year — debate meaningful rail-safety legislation — Union Pacific, state regulators and officials in Grand County are debating tough questions about a massive wastewater spill last summer into the Fraser River near the state-owned Moffat Tunnel.

Activist Ancora may turn to PSR to “enhance value” at Norfolk Southern

Ancora is a $9 billion wealth advisory firm that has been using activism more often and has developed into an activist to be respected and feared. With an approximate $1 billion position in Norfolk Southern, the firm likely has a partner who has shared in the investment and is relying on Ancora to lead the activist effort.

NS train derails in eastern North Carolina

Fourteen cars of a Norfolk Southern train derailed early Saturday morning near the town of Aurora, leading to a leak of molten sulfur from one car. No injuries were reported.

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