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Stock Market & Financial Investment News

News Breaks
January 28, 2013
10:21 EDTNSCNorfolk Southern plans to spend $2B in 2013 for capital improvements
Norfolk Southern said it plans to spend $2B in 2013 for capital improvements to its rail transportation network. The largest expenditure will be $831M for roadway improvements. "Our capital plan will maintain the safety and quality of our existing franchise, improve service quality and performance, achieve operational efficiencies and productivity improvements, and support business growth," said Norfolk Southern CEO Wick Moorman. "We continue to invest in the infrastructure, equipment, and technology necessary to provide the best possible service to our customers."
News For NSC From The Last 14 Days
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March 2, 2015
09:03 EDTNSCNorfolk Southern names Jim Squires CEO effective June 1, 2015
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February 23, 2015
09:59 EDTNSCOn The Fly: Analyst Initiation Summary
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06:17 EDTNSCNorfolk Southern initiated with an Underweight at JPMorgan
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February 22, 2015
13:45 EDTNSCCanada introduces legislation to enhance crude-by-rail safety, accountability
The Honourable Lisa Raitt, Minister of Transport, introduced legislation in the House of Commons that will enhance railway safety and make the rail industry and crude oil shippers more accountable to Canadians. The new Safe and Accountable Rail Act proposes amendments to the Canada Transportation Act and Railway Safety Act. Changes include a new liability and compensation regime for federally regulated railways, including minimum insurance requirements; a compensation fund financed by levies on crude oil shippers; increased information-sharing provisions; and stronger oversight powers for the Minister and Transport Canada inspectors. The new liability and compensation regime will be consistent with those the Government has introduced for other modes of transport, such as marine tankers and oil pipelines. It is based on the “polluter pays” principle and makes railways and shippers responsible for the cost of accidents, protecting taxpayers and communities by ensuring that adequate resources are available for compensation if an accident were to occur. Proposed amendments to the Railway Safety Act will broaden the powers of the Minister and inspectors to order railway companies and others to take specified measures or stop any activity deemed necessary for safe railway operations. The proposed amendments will also create new regulation- making powers requiring railway companies to share information with municipalities. These changes are part of the Government’s commitment to strengthen oversight and increase collaboration between communities and the rail industry, addressing issues raised in the Transportation Safety Board’s final report on the Lac-Mégantic derailment as well as concerns of the Federation of Canadian Municipalities. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link

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