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Top related persons:
Hunter Harrison - 4 John Kasich - 2 Ancora - 2 Jim Chadwick - 2 Harrison - 2 Jim Vena - 2 Lance Fritz - 2 Vena - 2
Top related locs:
Ohio Ancora Bengaluru Norfolk Southern East Palestine , Ohio Norfolk North Dakota Medtronic
Top related orgs:
Canadian National - 3 Norfolk Southern - 2 PSR - 2 CSX - 2 Union Pacific Corp - 2 Wednesday - 2 U.S . - 2 Canadian National Railway Co - 2

Search resuls for: "Hunter Harrison"


9 mentions found


☆ Norfolk Southern proxy fight draws heavyweight politicians and regulatory scrutiny a year after derailment
  + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +12 min
Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.
Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora
☆ Activist Ancora may turn to a reliable tactic to enhance value at Norfolk Southern
  + stars: | 2024-02-10 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +5 min
When you see that in a railroad company, there is one key metric to look at, which drives railroad profitability and shareholder return: It's the operating ratio. The operating ratio is the company's operating expenses as a percentage of revenue. NSC's operating ratio is almost 69% and the right management team with the right strategy should easily be able to get the operating ratio down close to 60%. There is no need to reinvent the wheel here; the roadmap has already been drawn at Canadian Pacific and CSX. Inside the activist world, and among investors who were shareholders of Canadian Pacific and CSX, this is as sure of an activist strategy as there is.
Persons: Ancora, James Chadwick, Mantle, Hunter Harrison, Harrison, John Kasich, Sameh Fahmy, Jim Chadwick, Ken Squire Organizations: Norfolk Southern, Railroads, TCI, CSX, Pershing, Canadian Pacific, Canadian National, CP, PSR, Kansas City Southern, 13D Locations: United States, Ancora, Ohio
☆ Union Pacific appoints former executive Jim Vena as CEO
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: 1 min
July 26 - Union Pacific Corp (UNP.N) on Wednesday named former chief operating officer Jim Vena as its top boss, months after CEO Lance Fritz said he was stepping down, sending the U.S. railroad operator's shares up 6.7% in premarket trading. Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. Reporting by Nathan Gomes and Amna Karimi in Bengaluru; Editing by Anil D'Silva and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Union Pacific, Thomson Locations: Bengaluru
☆ Union Pacific names former executive Vena as CEO, misses profit estimate
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +1 min
Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. The company reported second-quarter profit of $2.54 per share, missing analysts' average estimate of $2.75 per share, according to Refinitiv IBES data, as its shipments fell. The railroad industry has been struggling with railcar shortages resulting in shipment delays and supply-chain disruptions.
Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Fritz, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Soroban Capital Partners, Union Pacific, Thomson Locations: Bengaluru
☆ Norfolk Southern Derailment Spurs Questioning of Turnaround King’s Strategy
  + stars: | 2023-04-02 | by ( Kris Maher | ) www.wsj.com   time to read: 1 min
The late E. Hunter Harrison , who ran four of North America’s major railroads, is credited with transforming the railroad industry by spreading a philosophy of aggressive cost-cutting. But criticism of that philosophy, known as precision-scheduled railroading, or PSR, has grown since the February derailment of a Norfolk Southern Corp. train that released hazardous chemicals in East Palestine, Ohio.
☆ Another cultish cost-saving formula gets off-track
  + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com   time to read: +9 min
Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.
☆ Union Pacific Shares Jump on Hopes for New CEO
  + stars: | 2023-02-27 | by ( Esther Fung | Dean Seal | ) www.wsj.com   time to read: 1 min
Union Pacific’s total shareholder return, which includes dividends, has lagged behind its publicly traded rivals. Union Pacific Corp. shares surged after the railroad said it would replace its chief executive and investors cheered the possibility that a disciple of the late Hunter Harrison could take over the company. Jim Vena , who worked with Mr. Harrison for years, is a proponent of precision scheduling railroading. The strategy, which Mr. Harrison deployed in Canada and at CSX Corp., reduces costs by operating fewer, longer trains and running them on tighter schedules. It has also sparked criticism from unions about job losses and shippers about service disruptions.
☆ Norfolk Southern Operating Chief Cindy Sanborn to Resign
  + stars: | 2022-11-14 | by ( Colin Kellaher | ) www.wsj.com   time to read: +2 min
Cindy Sanborn, the first woman to serve as chief operating officer of a major U.S. freight railroad, will step down from her post at Norfolk Southern Corp. , effective Jan. 1. The Atlanta-based railroad said Monday that Paul Duncan, currently senior vice president of transportation and network operations, would succeed Ms. Sanborn as chief operating officer. Ms. Sanborn joined Norfolk Southern in September 2020 from rival Union Pacific Corp.Ms. Sanborn’s impact goes “well beyond Norfolk Southern. Mr. Duncan, 42 years old, joined Norfolk Southern in March as vice president of network planning and operations and was promoted to his current post in September. He held executive positions at BNSF Railway before joining Norfolk Southern.
☆ U.S. railroad operators' volume woes to continue next year
  + stars: | 2022-10-19 | by ( ) www.reuters.com   time to read: +3 min
Oct 19 (Reuters) - Volume woes at U.S. railroad operators are set to spill into next year as labor shortages continue to hurt the sector that is critical in connecting consumers with businesses and finished goods, according to analysts. The North America railroad industry has also been under scrutiny for working conditions. Railroad operators have tried to increase staffing levels, partly under pressure from U.S. regulator Surface Transportation Board, but have found it tough to recruit amid labor shortages. WALL STREET SENTIMENT** The current average analyst rating on Union Pacific shares is "buy", with 15 analysts rating it "hold", and 16 "buy" or higher. ** The current average analyst rating on Canadian National shares is "hold", with 18 rating it "hold", and six "buy" or higher.
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