Norfolk Southern railroad’s first-quarter profit fell 27% because it didn’t collect big insurance payments related to the East Palestine, Ohio, derailment and its planned merger with Union Pacific added to its costs.
Norfolk Southern's quarterly profit slipped 12% amid the uncertain economy, as well as costs related to its efforts to merge with Union Pacific and create a transcontinental railroad.
The proposed $85 billion merger of the Union Pacific and Norfolk Southern railroads has lost the support of two unions that represent more than half their workers.
Norfolk Southern railroad worked with the state of Ohio and Youngstown State University to revive plans for a $20 million first responder training center near the site of the worst derailment in a decade in East Palestine, Ohio.
Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.
Not long after a Norfolk Southern train derailed and caught fire in eastern Ohio in February 2023 the railroad started to repeat its promise that it would “make it right” in East Palestine.
Norfolk Southern’s first quarter profits got another boost from insurance payments related to its disastrous 2023 derailment in eastern Ohio.
Norfolk Southern's solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they’re getting from Washington D.
Norfolk Southern says it has a deal with Ancora Holdings to keep the investor from launching a repeat of this year’s campaign to take control of the railroad.
The flurry of contract agreements announced early this fall — including two more Wednesday — offer evidence that major railroads and their unions are working to avoid the standoffs that led them to a brink of a national strike two years ago.
Norfolk Southern railroad’s streamlined operations delivered strong earnings last quarter, even excluding boosts from insurance payouts related to the disastrous derailment in East Palestine and the sale of two rail lines.
Norfolk Southern said Thursday that its new CEO’s salary will jump to $1 million now that Mark George has been promoted from chief financial officer, and he will be eligible for a $2.25 million bonus and significant stock awards for performance.