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Norfolk Southern to aim for 60 operating ratio by 2021

Rail News Home Norfolk Southern Railway 2/11/2019 Rail News: Norfolk Southern Railway
image The Class I's financial targets include a full-year OR improvement in 2019 of at least 100 basis points from the 2018 OR of 65.4 percent.Photo – nscorp.com

Norfolk Southern Corp. officials today will provide details of the Class I’s latest strategic plan, which includes targeting an operating ratio (OR) of 60 percent by 2021.

The details — which will be revealed at the railroad’s Investor and Financial Analyst Conference being held today in Atlanta — will cover ways to increase productivity, efficiency and growth.

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NS: New records for Q4 operating income, full-year operating ratio

Norfolk Southern Corp. yesterday reported record fourth-quarter income from operations of $1.1 billion, up 27 percent compared with fourth-quarter 2017 and up 9 percent on an adjusted basis.

Net income shot up 44 percent to $702 million, earnings per share jumped 52 percent to $2.57, revenue rose 9 percent to $2.9 billion, volume increased 3 percent to 1.98 million units, railway operating expenses climbed 9 percent to $1.8 billion and the operating ratio improved 5.5 points to 62.8.

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NS appoints Cox to succeed Kesler as VP-taxation

Norfolk Southern Corp. has named Michael Cox vice president of taxation, effective March 1. He will succeed Robert Kesler, who is retiring.

Cox has held positions of increasing responsibility since he joined NS as assistant tax counsel in 2000. Prior to joining the company, he spent more than a decade in private industry and with the federal government, including serving as a trial attorney in the U.S. Department of Justice's tax division.

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NS fills board seat with Morgan Stanley's Kelleher

Rail News Home Norfolk Southern Railway 1/23/2019 Rail News: Norfolk Southern Railway
image Thomas KelleherPhoto – NS

Norfolk Southern Corp. has elected Thomas Kelleher as a board member, effective yesterday. He will serve as an independent director and join the board's finance and risk management committee.

Kelleher, 61, is president of global financial services and investment management firm Morgan Stanley. He also is chairman and chief executive officer of Morgan Stanley Bank N.A. Kelleher is responsible for Morgan Stanley's institutional securities business and wealth management.

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NS assists Georgia community affected by derailment

Rail News Home Norfolk Southern Railway 1/14/2019 Rail News: Norfolk Southern Railway
imageNorfolk Southern Railway will keep an assistance center open through Wednesday to serve families and businesses affected by last week's train derailment near Bartow, Georgia.Some of the train's 39 cars that derailed were carrying chlorine, and chlorine odors and a cloud were reported in the area after the accident, which occurred around 8 p.m. on Jan. 6, according to an NS statement.The incident prompted a temporary evacuation. It was later determined that hydrogen peroxide and hydrochloric acid — and not chlorine — had been released as a result of the derailment.NS opened its assistance center in Louisville on Jan. 7. The Class I is compensating affected members of the community for their inconvenience and out-of-pocket expenses, NS officials said in a post late last week on the railroad's website."Environmental teams are continuously monitoring the air in Bartow and other community areas surrounding the derailment and will continue monitoring until the chemicals have been removed from the site," they said.The cause of the derailment remains under investigation.

Contact Progressive Railroading editorial staff.

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NS facilitated $1.5 billion in industrial projects last year

Norfolk Southern Railway generated more than 60,000 carloads of new traffic last year through its industrial development efforts, the Class I announced today.

The 72 new and 18 expanded industrial plants in 17 states represented an investment of $1.5 billion by NS customers. The commercial development is expected to create nearly 3,000 new customer jobs and contribute to the economy in communities across the railroad's service area, NS officials said in a press release.

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Norfolk Southern will move its HQ to Atlanta

The announcement was expected for months, but yesterday Norfolk Southern Corp. made it official: The Class I will move its corporate headquarters from Norfolk, Virginia, to Atlanta.

NS is in advanced discussions to purchase a site from Cousins Properties at 650 W. Peachtree St. NW in Midtown Atlanta, where the railroad plans to build its new headquarters. Progress on the move has begun and will span the next several years as the facility is built, NS officials said in a press release.

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Norfolk Southern report outlines sustainability efforts in 2017

Norfolk Southern Corp. yesterday released its latest Corporate Social Responsibility Report, which includes such details as the Class I's record locomotive fuel efficiency and reduced greenhouse-gas (GHG) emissions.

NS improved locomotive fuel efficiency by 5 percent in 2017 over 2016, conserved 23 million gallons of diesel and avoided more than 233,750 metric tons of GHG emissions, according to the report.

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Norfolk Southern to serve new Georgia inland port

Rail News Home Norfolk Southern Railway 12/4/2018 Rail News: Norfolk Southern Railway
image The new inland port will be situated in the manufacturing and logistics corridor along Interstate 85 near Gainesville, Georgia, Gov. Nathan Deal (shown at the podium) announced.Photo – Georgia Ports Authority/Stephen B. Morton

Norfolk Southern Railway will provide service to a new inland port to be developed near Gainesville, Georgia, state and Georgia Ports Authority (GPA) officials announced yesterday.

Set to open in 2021, the Northeast Georgia Inland Port will be situated in the manufacturing and logistics corridor along Interstate 85 and operated by the GPA.

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Norfolk Southern: Ledoux becomes VP of government affairs, Maestri to retire

Rail News Home Norfolk Southern Railway 11/28/2018 Rail News: Norfolk Southern Railway
image Marque LedouxPhoto – nscorp.com

Norfolk Southern Corp. announced yesterday that Marque Ledoux will become vice president of government affairs on Jan. 1, 2019. He will succeed Bruno Maestri, who is retiring from the Class I.

Ledoux joined NS in 2003 as assistant VP of government affairs. Prior to joining the company, he worked for FedEx for 16 years in public relations and government relations positions. In his new role, he will continue to be based in Washington, D.C., and report to John Sheib, executive VP of law and administration.

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Norfolk Southern proposes new HQ building in Midtown Atlanta, report says

Details of Norfolk Southern Corp.'s potential relocation of its headquarters from Norfolk, Virginia, to Atlanta emerged in documents released yesterday by Invest Atlanta, the city's economic development agency.

NS is proposing construction of a new headquarters in Midtown Atlanta that would feature 750,000 square feet of office space and a daycare center for employees' children, according to the documents.

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Norfolk Southern names Farrell SVP transportation

Rail News Home Norfolk Southern Railway 11/7/2018 Rail News: Norfolk Southern Railway
image Michael FarrellPhoto – nscorp.com

Norfolk Southern Corp. has tapped Michael Farrell to serve as senior vice president of transportation.

Based in Atlanta, Farrell will report to Michael Wheeler, executive VP and chief operating officer. Farrell's duties will include all transportation operations, division mechanical and rail terminal management functions, NS officials said in a press release.

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Norfolk Southern's Q2 net income surges 23 percent

Norfolk Southern Corp. second-quarter 2017 net income rose 23 percent to $497 million, or $1.71 per diluted share, compared with the same quarter a year ago, the Class I reported this morning.

The profit growth was driven by a 15 percent increase in railway operations income, and an all-time record operating ratio of 66.3 percent, according to an NS press release.

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NS 'safety train' educates first responders in South Carolina

10/3/2016    

Rail News: Norfolk Southern Railway

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Norfolk Southern touts sustainability achievements

Norfolk Southern Railway rolled out new low-emission locomotives, reduced unnecessary locomotive idling and set a five-year goal to improve fuel efficiency as part of its sustainability program in 2015, the Class I announced today.

In its new online sustainability report, "What Efficiency Looks Like," NS details its efforts to achieve a "healthy balance between its business imperatives as a publicly traded company and its environmental and social commitments," NS officials said in a press release.

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Norfolk Southern pours capital, sweat equity into its new Premier Corridor

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By Jeff Stagl, Managing Editor

The Crescent. The Heartland. The MidAmerica. The Patriot. Norfolk Southern Corp. has developed a number of corridors over the past few decades, either on its own or with other railroads. But the aptly named and recently introduced Premier Corridor might be its pre-eminent one.

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Watco to begin transloading operations at NS terminal in Sandusky

Watco Transloading LLC has obtained a definitive licensed agreement with Norfolk Southern Corp. to operate a new NS Thoroughbred Bulk Terminal (TBT) in Sandusky, Ohio.

NS is leveraging existing infrastructure of the former Triple Crown Services facility to enable Watco and NS to drive new incremental transload business, Watco officials said in a press release issued yesterday.

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Norfolk Southern's Q2 profit falls on lower volumes

Norfolk Southern Corp.'s second-quarter 2016 net income declined to $405 million, or $1.36 diluted earnings per share, from $433 million, or $1.41 earnings per share, a year ago, the Class I announced this morning.

Railway operating revenue fell 10 percent to $2.5 billion compared with Q2 2015's revenue as a result of reduced volumes and lower fuel surcharge revenue. Overall, volume dropped 7 percent to 1.8 million units for the quarter, NS officials said in a press release.

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NS settles hiring discrimination case

Norfolk Southern Corp. will pay nearly $500,000 to 2,086 African-Americans as part of a settlement agreement with the U.S. Department of Labor to resolve allegations of race-based hiring discrimination, federal officials announced yesterday.

The case involves an NS business unit in its engineering department, Maintenance of Way No. 34, which entered into the agreement with the department's Office of Federal Contract Compliance Programs (OFCCP). NS is a federal contractor that has had more than $10 million contracts with the Federal Highway Administration, U.S. Department of the Navy, U.S. Department of Air Force and U.S. Fish & Wildlife Services.

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NS exec to meet with manufacturers in China

Robert Martinez, Norfolk Southern Corp's. vice president of business development and real estate, will be in China this week to meet with business leaders who are considering locating their manufacturing plants in the United States, NS announced yesterday.

Martinez plans to meet with a range of Chinese companies, including manufacturers of automobiles, tires, chemicals, tissue and metals.

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