Norfolk Southern

Report: Activist Investor Attempting NS Takeover — Commentary Through Our Railway Age Colleagues

ATLANTA ––According to an unsubstantiated late-Jan. 31 Wall Street Journal article, an investor group led by activist Ancora Holdings Group, LLC intends to run a proxy fight and replace Norfolk Southern President and CEO Alan Shaw. Ancora has reportedly built a position in NS and would likely try to take control of the Board to enact management and operational changes. We highlighted this as the number one risk in our downgrade earlier this week. NSC was up ~5% after hours. Story by Jason Seidl, Matt Elkott, Elliot Alper and Uday Khanapurkar, TD Cowen

USDOT Awards $4.9B for Mega, INFRA Projects

The U.S. Department of Transportation (USDOT) is distributing $4.9 billion to 37 nationwide projects through the FY 2023-24 Mega (National Infrastructure Project Assistance) and INFRA (Infrastructure for Rebuilding America) grant programs. Twelve rail-related projects will receive a total of $1.6 billion; the Pier B project at the Port of Long Beach and the Louisiana International Terminal project at the Port of New Orleans are among the winners.

NS, BRS Partner to Enhance Safety

Norfolk Southern (NS) and the Brotherhood of Railroad Signalmen (BRS) on Oct. 19 announced a partnership to create the Signal Safety Collaboration initiative, a one-year pilot program developed with input from the Federal Railroad Administration (FRA),

‘Women in Rail’ Event Set for Nov. 2

CHICAGO – The industry conversation continues with Railway Age / RT&S Women in Rail 2023—our first in-person Women in Rail conference covering the freight, passenger and transit rail sectors.  The Nov. 2 conference, presented live at