Legislation
Norfolk Southern
Norfolk Southern
Major Crescent Corridor Improvements Completed
Norfolk Southern
Norfolk Southern Completes $21 Million Worth of Track Work in Seven Days in Southwestern Pennsylvania
NORFOLK, Va. — Earlier this month, Norfolk Southern’s Maintenance of Way and Structures Department completed $21 million in track, signal and bridge work in seven days on one if its primary coal lines in southwestern Pennsylvania. The Mon Line extends approximately 85 miles from Pittsburgh to coal mines in Washington and Greene counties. In 2009, almost 42 million tons of coal was transported over this rail line. Approximately 20 trains daily use the Mon Line. “Because the Mon Line is critical to Pennsylvania’s coal industry, every year in early July we undertake an intensive effort to maintain and improve the
Norfolk Southern
Norfolk Southern Receives Industry Automotive Service Awards
NORFOLK, Va. — Norfolk Southern’s Automotive Distribution Group recently received two Automotive Quality Excellence Awards for outstanding service from the Association of American Railroads (AAR). The awards are based on rigorous, unannounced audits of rail-served automotive facilities throughout North America. Norfolk Southern won the Highest Quality Review Score for Destination Facilities by achieving a perfect score of 100 percent at its Titusville, Fla., automotive facility. This was the first perfect score ever given any facility since the AAR began its present audit program in 1997. Norfolk Southern also won the award for Greatest Overall Quality Review Score Improvement at Chrysler’s
Norfolk Southern
Norfolk Southern Increases Stock Repurchase Program
NORFOLK, Va. — Norfolk Southern Corp. announced that its board of directors has authorized the repurchase of up to an additional 50 million shares of its common stock through Dec. 31, 2014. In combination with the previous share repurchase program that expires on Dec. 31, 2010, the total number of shares that may be repurchased has increased from 75 million to 125 million. From February 2006 through June 30, 2010, approximately 66.7 million shares have been repurchased for $3.4 billion. The timing and volume of any purchases will be guided by management’s assessment of market conditions and other factors. Norfolk
Norfolk Southern
Norfolk Southern Reports Second-Quarter 2010 Results
NORFOLK, Va. — Norfolk Southern Corp. has reported second-quarter 2010 net income of $392 million, an increase of 59 percent, compared with $247 million for second-quarter 2009. Diluted earnings per share were $1.04, up 58 percent, compared with $0.66 per diluted share earned in the second quarter of 2009. “Norfolk Southern delivered strong financial results in the second quarter, based on continuing operating leverage,” said CEO Wick Moorman. “This is our fourth straight quarter of volume growth, and we are optimistic about continued year-over-year increases in rail traffic. We remain focused on reinforcing the safety and quality of our franchise,
Norfolk Southern
Norfolk Southern Increases Dividend
NORFOLK, Va. — Norfolk Southern Corp. said its Board of Directors today voted to increase the regular quarterly dividend on the company’s common stock by 6 percent, or 2 cents per share, from 34 to 36 cents per share. The increased dividend is payable on Sept. 10, to stockholders of record on Aug. 6. Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 112 consecutive quarters.
Norfolk Southern
Major Trail, Rail Corridors get Boost from Norfolk Southern
NORFOLK, Va. — Employees of Norfolk Southern Corp. are teaming up with the Appalachian Trail Conservancy and local trail-maintaining clubs in a one-day “Spruce-It-Up” campaign to clean and improve one of the nation’s longest and most popular scenic trails. The 2,175-mile Appalachian Trail roughly parallels the 2,500-mile Crescent Corridor, a multistate freight rail network that Norfolk Southern is improving with the help of local, state, and federal partners to create green jobs, stimulate local economies, and help relieve highway congestion. “These two initiatives – the Appalachian Trail and the Crescent Corridor – demonstrate how the employees of Norfolk Southern share
Miscellaneous
Plans Call for Steam to Ride the Norfolk Southern Rails Again, Through Display and Excursion Program with TVRM
CHATTANOOGA, Tenn. — Norfolk Southern Corp. is in negotiations with the Tennessee Valley Railroad Museum with regard to the operation of a limited schedule of steam locomotive event appearances and passenger excursions beginning later this year. “21st Century Steam” would highlight milestones in rail history and provide an opportunity for audiences to learn about today’s safe and service-oriented freight railroads. The program would feature three venerable coal-powered steam locomotives: — Southern Railway 4501: Built in 1911 by Baldwin Locomotive Works, 4501 served Southern Railway in freight service in Tennessee, Virginia, Kentucky and Indiana, before being sold to a short line railroad.
Norfolk Southern
Axion Power to Work With Norfolk Southern on Battery-Driven Locomotive Project
NEW CASTLE, Pa. — Axion Power International said it will launch a development program with Norfolk Southern Corp. to develop a battery management system that would allow rail locomotives to operate on battery power and recharge their batteries through regenerative braking. “Railways are the most fuel-efficient method of transporting freight, moving a ton of freight 457 miles on a single gallon of fuel,” Axion Power Chairman & CEO Thomas Granville said. “The ability to run locomotives on electricity is well-established, although the standard means of doing so to date has either been a third rail or an overhead connection –