Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Investors trying to take control of Norfolk Southern railroad pick up key support !

Investors trying to take control of Norfolk Southern railroad pick up key support

Time:2024-05-21 20:32:45 source:Planet Patch news portal

The activist investors trying to take control of Norfolk Southern’s board are picking up key support, but the railroad’s CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers.

Ancora Holdings’ bid to elect seven new directors and replace management at the Atlanta-based railroad has gained the backing of one of the major proxy advisory firms, one of the railroad’s biggest customers and two of its largest labor unions in recent days.

But CEO Alan Shaw said he believes he still has the support of most of the railroad’s workers, investors and customers.

“The choice really couldn’t be any more clear for our shareholders,” Shaw said an interview with The Associated Press. “We make promises and we’ve continued to keep our promises, and we will continue to deliver. And we’ve got a long-term vision for Norfolk Southern where shareholders win, as opposed to the activists who’ve got a short-term and erratic approach where shareholders lose.”

Related information
  • Farm family’s newest crop shows China’s solar ascendancy
  • 'We used to be dotty about bicycles': Cyclist discovers over 100 hidden
  • Will the Budget cut taxes
  • Sharp rise in rental fraud including faking payslips, as tenants seek to fight off competition
  • Why US Catholics are planning pilgrimages in communities across the nation
  • Gaza's Nasser hospital: Fears for patients as Israeli raid continues
  • New wonders of the world! The crowd
  • HK$3.5 billion Hong Kong Palace Museum opens after typhoon delay
Recommended content
  • Arrest Lord Mountbatten's self
  • New Cybertruck owners are re
  • Elon Musk says AI has 'more positives than negatives' as he launches his own anti
  • Top scientist warns AI could surpass human intelligence by 2027
  • Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
  • 3 jailed for Hong Kong's priciest art heist, after selling billion