Norfolk Southern – Page 31

Norfolk Southern Moves Record Coal Tonnage in Third Quarter 2008

October 23, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern hauled 49.67 million tons of coal in the third quarter of 2008, an all-time quarterly high driven by strong export demand and more shipments of domestic metallurgical coal. Third-quarter 2008 coal tonnage increased 6 percent, up from 46.84 million tons during the same period last year. The previous record for any quarter was 49.27 million tons in second quarter 2008. Even as it handles record coal amounts, Norfolk Southern has reduced the transit time of shipments over major coal lanes, with an 8.8 percent improvement for the first nine months of 2008. “Faster transit times when tonnage is at record levels indicate a fluid rail

Norfolk Southern Reports Record Third-Quarter 2008 Results

October 21, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corporation reported third-quarter 2008 net income of $520 million, or $1.37 per diluted share, compared with $386 million, or $0.97 per diluted share, for the same period of 2007. Third-quarter income from railway operations increased 31 percent to a record $894 million. “Our third quarter performance again demonstrates the strength of our diversified traffic base. We are also continuing to provide the high-quality service our customers require in this difficult economic environment,” said Norfolk Southern CEO Wick Moorman. Third-quarter railway operating revenues were $2.9 billion, up 23 percent compared with the same period a year earlier. Continued weakness in the automotive and housing-related industries, mostly

Lowcountry Open Land Trust, Norfolk Southern, and Neighbors Protect Rural Lands

October 10, 2008 Railfanning.org News Wire

CHARLESTON, S.C. — More of South Carolina’s coastal plain near Charleston, containing some of the most important ecosystems in the U.S., will be protected permanently from development. The Lowcountry Open Land Trust (LOLT) said Thursday that it is protecting an additional 10 properties, totaling more than 2,500 acres, in the upper Edisto River Basin and Four Holes Swamp watershed. The properties include the donation to LOLT of a conservation easement on 154 acres from the Grooms- Hoover family of Berkeley County and the protection of 428 acres of mostly wetlands by restrictive covenants with the Army Corps of Engineers. These two properties alone, a complex of wetlands, uplands, bluffs, and

Norfolk Southern Issues Its First Sustainability Report

October 1, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. has issued its first sustainability report, describing what the company says is its commitment to responsible economic, environmental and social performance. The report, which the company plans to issue annually, is posted on Norfolk Southern’s environmental Web site at http://www.nscorp.com/footprints. Through narrative, metrics, and profiles of employees who are making a difference, the 56-page report documents Norfolk Southern’s sustainability progress. Its content is modeled after the sustainability reporting guidelines of the Global Reporting Initiative, NS said. In a letter introducing the report, Wick Moorman, Norfolk Southern chairman, president, and chief executive officer, said, “Our goal is to achieve industry leadership in fuel conservation, emissions

House Approves Rail Safety Bill; Billions to go to Passenger Rail

September 27, 2008 Railfanning.org News Wire

WASHINGTON — The House of Representatives has approved legislation that proponents say will improve the Nation’s intercity passenger rail system and the safety of the nation’s railroads. The Rail Safety Improvement Act of 2008 and the Passenger Rail Investment and Improvement Act of 2008 will increase funding for Amtrak over the next five years, require new safety controls on trains that help reduce crashes, allow states to regulate solid waste processing facilities along rail lines and allocate funding for improvements to Washington’s Metro transit system. The legislation sets “an aggressive deadline” of 2015 for implementation of positive train control (PTC) across most of the rail network, Edward R. Hamberger, President

Hurricane Ike Causes Rail Freight Downturn

September 27, 2008 Railfanning.org News Wire

WASHINGTON — Freight traffic on U.S. railroads was off sharply during the week ended September 20 in comparison with the same week last year, the Association of American Railroads (AAR) reported. Much of the decline can be attributed to disruptions caused by Hurricane Ike which struck the Gulf Coast Sept. 13. Total volume was estimated at 32.8 billion ton-miles, down 6.8 percent from the comparable week last year. Carload freight in the week totaled 312,662 cars, off 7.8 percent from last year. Volume was down 10.4 percent in the West and 4.3 percent in the East. Intermodal volume, which is not included in the carload data, totaled 234,286 trailers or

Michael D. Lockhart Elected to Norfolk Southern Board

September 23, 2008 Railfanning.org News Wire

NORFOLK, Va. — Michael D. Lockhart, chairman, president, and chief executive officer of Armstrong World Industries Inc., has been elected a director of Norfolk Southern Corp., Chairman and CEO Wick Moorman announced. Lockhart joined Armstrong in 2000. Prior to that, he was chairman and chief executive officer of General Signal Corporation from 1995 until it was acquired in 1998. He joined General Signal as president and chief operating officer in 1994. From 1981 until 1994, Lockhart worked for General Electric Company in various executive capacities in GE Capital, GE Transportation Systems, and GE Aircraft Engines. Lockhart holds a master’s degree from the University of Chicago, Graduate School of Business. —

Norfolk Southern and BLET Reach New Agreement

September 16, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Railway Company and the Brotherhood of Locomotive Engineers and Trainmen (BLET) have reached a new agreement that will continue to link engineer compensation to company performance through 2014. The BLET has participated in such a bonus program since 1996. The new agreement covers approximately 5,000 engineers and provides each engineer the opportunity for an annual bonus payment based on company financial and service performance metrics and, for the first time, his or her work availability in the previous year. Other highlights of the agreement include annual wage increases totaling 19 percent from 2009 through 2014, enhancements to the BLET’s 401k plan, increased incentive pay for

Norfolk Southern is One of the Best Places to Launch a Career

September 15, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern is one of the 50 “Best Places to Launch a Career,” according to the Sept. 15 issue of BusinessWeek magazine. BusinessWeek‘s annual list is based on a survey of U.S. employers, college career services directors, and some 40,000 college undergraduates. Norfolk Southern’s place on the list improved from last year, and the magazine noted, “High oil prices wreaked havoc on everything from air carriers to freight delivery companies. The one beneficiary: rail.” “Railroading today is a growth industry,” said Cindy Earhart, NS vice president human resources. “With our focus on safety and service, our light impact on the environment, and our efforts to build an

Norfolk Southern is One of the Best Places to Launch a Career

September 12, 2008 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern is one of the 50 “Best Places to Launch a Career,” according to the Sept. 15, 2008, issue of BusinessWeek magazine. BusinessWeek’s annual list is based on a survey of U.S. employers, college career services directors, and some 40,000 college undergraduates. Norfolk Southern’s place on the list improved from last year, and the magazine noted, “High oil prices wreaked havoc on everything from air carriers to freight delivery companies. The one beneficiary: rail.” “Railroading today is a growth industry,” said Cindy Earhart, NS vice president human resources. “With our focus on safety and service, our light impact on the environment, and our efforts to build