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 […]
WASHINGTON — Canadian Pacific Kansas City and Iowa Interstate on Friday asked federal regulators to designate Canadian National’s proposed acquisition of Iowa Northern as a “significant” transaction that would require a longer and more rigorous review process. Last week the Surface Transportation Board accepted CN’s application to acquire Iowa Northern and said the $230 million […]
WASHINGTON – Federal regulators have concluded that construction of the proposed Savage Tooele Railroad in Utah would have no impact on the environment provided that mitigation measures are followed. The Surface Transportation Board’s Office of Environmental Analysis on Friday released its final environmental assessment for the proposed short line, which aims to revive Union Pacific’s […]
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 […]
WASHINGTON — The Surface Transportation Board on Friday approved an emergency request to allow short line company Chicago, Rock Island & Pacific Railroad to provide service for 30 days on the line formerly operated by the Blackwell Northern Gateway Railroad, shut down in February by the Federal Railroad Administration for safety reasons. The State of […]
RICHMOND, Va. — Virginia legislation requiring two-person crews for freight trains in the state has passed the legislature and been sent to Gov. Glenn Youngkin for his signature, the Virginian-Pilot newspaper reports. The bill that passed narrowly passed both houses of the General Assembly — 51-49 in the House of Delegates, and 20-19 in the […]
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 […]
LOWER SAUCON TOWNSHIP, Pa. — The National Transportation Safety Board is investigating a derailment involving three Norfolk Southern trains that occurred today (Saturday, March 2) near Allentown, Pa., the safety agency said on social media site X. The incident sent two locomotives partially into the adjacent Lehigh River; NS reported diesel fuel and a small […]
MONTREAL — Canadian National and United Steelworkers Local 2004, which represents CN track and bridge employees in Canada, have reached a tentative agreement on a new three-year contract, the railroad announced today (Friday, March 1) The union represents more than 2,500 workers, primarily responsible for track maintenance. Negotiations had been underway since October 2023; the […]
WASHINGTON — The head of the Federal Railroad Administration has questioned Union Pacific’s commitment to safety after the furloughs of shop workers who maintain the railroad’s freight cars and locomotives. Meanwhile, the Transportation Trades Department of the AFL-CIO has asked the FRA to conduct random focused inspections at BNSF Railway in the wake of the […]
PHILADELPHIA — Amtrak has awarded a contract to Herzog Contracting Corp. for design and construction of a new Heavy Maintenance Facility at the passenger operator’s Penn Coach Yard in Philadelphia, the first of six major projects planned for maintenance facilities around the country. The projects at five locations in the Northeast and one in the […]
CLEVELAND – Activist investor Ancora Holdings has asked the Norfolk Southern board to explain why it gave CEO Alan Shaw a 37% raise last year despite presiding over the industry’s worst financial results, poor stock performance, and the railroad’s “ineffective and tone-deaf response” to the hazardous materials derailment in East Palestine, Ohio. “It is astonishing […]
