April 2, 2024 | Furloughs, Headlines, NS, PSR
(Source: Trains.com, April 2, 2024) Norfolk Southern today urged shareholders to back its board and management team in its proxy battle, saying that the plans touted by activist investor Ancora Holdings amount to a “slash and burn” strategy that would hurt service and...
March 27, 2024 | 2-man Crews, C3RS, Legislation, News, PSR, Railroad Safety
On March 13, the House Transportation & Infrastructure Rail Subcommittee hosted a roundtable discussion to examine safety issues in the railroad industry. BLET Vice President & National Legislative Representative Vince Verna represented BLET. During his...
March 27, 2024 | Headlines, NS, PSR
(Source: Freight Waves, March 25, 2024) Norfolk Southern has set May 9 as the date for its annual meeting, when an insurgent campaign to put outside directors on the company’s board and a new CEO in place will come to a head. Full story: Freight...
March 27, 2024 | Headlines, PSR, STB
(Source: Progressive Railroading, March 22, 2024) The U.S. Class I workforce grew a bit larger last month. As of mid-February, the large railroads employed 123,377 people in the United States, up 0.6% from January’s level and 2.6% from February 2023’s count, according...
March 27, 2024 | Headlines, NS, PSR
(Source: Trains.com, March 21, 2024) Norfolk Southern’s decision to hire a chief operating officer with Precision Scheduled Railroading expertise increases the likelihood that the embattled railroad will reach a settlement with activist investor Ancora Holdings, Wall...
March 20, 2024 | Headlines, NS, PSR
(Source: Trains.com, March 19, 2024) Amid a proxy fight with an activist investor, Norfolk Southern on Wednesday will name Canadian Pacific Kansas City executive John Orr as its chief operating officer, Trains News Wire has learned. Orr brings a Precision Scheduled...
March 18, 2024 | Headlines, NS, PSR, STB, UP
(Source: Progressive Railroading, March 15, 2024) The Surface Transportation Board yesterday announced that it denied Union Pacific Railroad’s request to keep certain required, temporary employment-data reporting confidential. Meanwhile, Ancora Holdings Group LLC...
March 16, 2024 | Headlines, NS, PSR
(Source: Trains.com analysis by Bill Stephens, March 14, 2024) 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...
March 16, 2024 | FRA, Headlines, PSR, UP
(Source: Freight Waves, March 13, 2024) Jim Vena’s opening remarks Wednesday at the J.P. Morgan 2024 Industrials Conference could easily be seen as a rebuttal to one man: Amit Bose, the chairman of the Federal Railroad Administration. Full story: Freight...
March 14, 2024 | BNSF, Headlines, PSR
(Source: Trains.com, March 11, 2024) 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...
