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☆ Neuberger's Pomeroy: In the process of handing off the consumer economy to the industrial economy
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeuberger's Pomeroy: In the process of handing off the consumer economy to the industrial economySandy Pomeroy, senior portfolio manager at Neuberger Berman, joins 'Squawk on the Street' to discuss if the portfolio manager is impressed by calls for U.S. economic resilience, where consumption's contribution to GDP goes from here, and more.

Persons: Neuberger's, Sandy Pomeroy, Neuberger Berman

☆ Judge rejects another Peter Navarro request to cut prison sentence short
▼ + stars: | 2024-05-15 | by ( Dan Berman | ) edition.cnn.com time to read: 1 min

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☆ Neuberger Berman's John San Marco on what to expect from Home Depot and Walmart earnings
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeuberger Berman's John San Marco on what to expect from Home Depot and Walmart earningsJohn San Marco, Neuberger Berman portfolio manager, joins 'Closing Bell Overtime' to talk the upcoming slate of retail earnings.

Persons: Neuberger Berman's John San Marco, San Marco, Neuberger Berman Organizations: Depot, Walmart

☆ I had 2 kids in my early 30s, and my last at 38. It was much harder to keep up with her.
▼ + stars: | 2024-05-12 | by ( Lynnette Lyons | ) www.businessinsider.com time to read: +4 min

I went from a stay-at-home mom to a working momAs a stay-at-home mom when my older kids were little, I lived and breathed all things motherhood. She arrived home to her grandmother and two older sisters, who were already well into their stacks of homework. AdvertisementLynnette Lyons had her youngest daughter when she was 38, and her older daughters in her early 30s. But, spread so thin, I didn't realize my older kids' demands on my time had caused the baby of the family to feel like an afterthought. AdvertisementI recently asked if she remembered being excluded from the family game night; she said she did, but didn't hold a grudge.

Persons: I'd, I've, guiltily, Lynnette Lyons, Dale Berman, She's Organizations: Service, Business

☆ Mmakgabo Helen Sebidi: 28 of her artworks mysteriously disappeared three decades ago. They’ve finally returned home to South Africa
▼ + stars: | 2024-05-10 | by ( Gertrude Kitongo | ) edition.cnn.com time to read: +11 min

Johannesburg, South Africa CNN —It was a phone call that changed everything. “We have some good news.”Mmakgabo Helen Sebidi had been waiting to hear those words for more than 30 years. Origins of an artistSebidi was born in 1943 near Hammanskraal, South Africa, north of Pretoria. One of artist Mmakgabo Helen Sebidi's early works, which often depict traditional, rural scenes of a time before European colonization came to the African continent. “We need those freedoms.”Mmakgabo Helen Sebidi’s exhibition is on display at the University of Johannesburg Art Gallery until May 17, 2024.

Persons: ”, Helen Sebidi, ” Sebidi, Sebidi, “, John Koenakeefe Mohl, Mmakgabo Helen Sebidi “, Mark Read, Everard, “ Helen, Read, Mmakgabo Helen Sebidi's, Helen Sebidi “, –, – Sebidi, Kim Berman, ’, Helen Sebidi's, Mmakgabo Helen Sebidi Sebedi, Gabriel Baard, ” Baard, ” Berman, Thabo Mbeki –, Jesper Osterberg, Gabriel Baard Baard, Everard Read, Helen Sebidi’s Organizations: South Africa CNN, South, CNN, Johannesburg Art Foundation, Everard Read, Galleries, Federated Union of Black Artists, Millary Colony, Arts, Nyköping Folk, School, University of Johannesburg, “, Smithsonian, Folk High School, Swiss Air Freight, University of Johannesburg Art, Swedish Embassy Locations: Johannesburg, South Africa, Sweden, Hammanskraal, Pretoria, New York, Swedish, Nyköping, Black, “, Stockholm, Sebidi

☆ TikTok sues to block prospective US app ban
▼ + stars: | 2024-05-07 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

If it loses, TikTok could be banned from US app stores unless its Chinese parent company, ByteDance, sells the app to a non-Chinese entity by mid-January 2025. But Virginia Democratic Sen. Mark Warner, an advocate for the TikTok legislation, said in remarks on the Senate floor in April that the briefings provided critical insight into the risk TikTok poses. US policymakers have described the law at issue as a forced divestiture of TikTok, not an outright app ban. Some US officials have been trying to ban TikTok from the United States since 2020, when former President Donald Trump moved to block the app by executive order. (Trump has since reversed his position, saying a TikTok ban would only help Meta, a company Trump blames for his 2020 election defeat.)

Persons: Washington CNN — TikTok, Joe Biden, TikTok, Bytedance, “, didn’t, Virginia Democratic Sen, Mark Warner, Warner, they’ve, They’ve, ”, Tuesday’s, ByteDance, TikTok’s, Berman, Evelyn Douek, Biden, Gautam Hans, Hans said, Jennifer Huddleston, Donald Trump, Trump, Douek, ” Douek Organizations: Washington CNN, Appeals, District of Columbia Circuit, Justice Department, Oracle, Foreign Investment, Republican, Democrat, Virginia Democratic, Senate, Stanford University, Cornell University . Still, Apple, Google, Cato Institute, European Commission, Trump Locations: China, United States, TikTok, Israel, Ukraine, Montana, Canada, United Kingdom, India

☆ Why Apple will be the big winner of AI's 2nd wave, according to 'Big Short' investor Steve Eisman
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Steve Eisman told Bloomberg TV that Apple will benefit from the coming wave of AI-based applications. Prospects of an AI iPhone have spurred bullish calls among other analysts. AdvertisementApple is well positioned to exploit the second leg of artificial intelligence, as the technology starts to take the form of mobile applications, Steve Eisman said. Sacconaghi's bullishness preceded Apple's winning earnings, during which CEO Tim Cook teased big AI announcements to come. AdvertisementWhen it comes to AI, Eisman has previously touted big investments in infrastructure, which would benefit from the tech's massive power demand.

Persons: Steve Eisman, —, everybody's, Neuberger Berman, we're, Eisman, Bernstein's, Toni Sacconaghi, Sacconaghi's bullishness, Tim Cook, Dan Ives Organizations: Bloomberg, Apple, Service, Nvidia, AMD, Cook, Co, Securities, Worldwide Locations: China

☆ Greg Abel looks like perfect 'sequential partner' to follow Buffett, says Neuberger's Dan Hanson
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreg Abel looks like perfect 'sequential partner' to follow Buffett, says Neuberger's Dan HansonBerkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting. Dan Hanson, Neuberger Berman senior portfolio manager, speaks with CNBC's Michael Santoli about his takeaways from the 2024 Berkshire annual meeting.

Persons: Greg Abel, Buffett, Neuberger's Dan Hanson Berkshire, Warren Buffett, Dan Hanson, Neuberger Berman, CNBC's Michael Santoli Organizations: Neuberger's Dan Hanson Berkshire Hathaway, Berkshire Hathaway Locations: Berkshire

The Justice Department is expected to announce the indictment of longtime Rep. Henry Cuellar, D-Texas, on Friday, two sources familiar with the matter told NBC News. It wasn't immediately clear if the indictment was related to the 2022 raid. A year after the raid — which had not previously yielded arrests or charges — Cuellar told the Texas Tribune: "There has been no wrongdoing on my part. Despite the raid, Cuellar narrowly defeated a progressive challenger, Jessica Cisneros, in his 2022 primary and went on to win re-election to his seat that November. A member of the centrist Blue Dogs and New Democrat Coalition, Cuellar was first elected to the House in 2004.

Persons: Henry Cuellar, Cuellar's, Joshua Berman, Cuellar, — Cuellar, Jessica Cisneros, Cassy Garcia Organizations: NBC News, Congressional Azerbaijan Caucus, Texas Tribune, Texans, Republican, Cuellar, Dogs, New Democrat Coalition Locations: Texas, Laredo , Texas, Azerbaijan, U.S, San Antonio

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ The Fed has to 'thread the needle pretty carefully' this week, says Neuberger Berman's Joe Amato
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has to 'thread the needle pretty carefully' this week, says Neuberger Berman's Joe AmatoJoe Amato, Neuberger Berman president and CIO, joins 'Squawk Box' to discuss the latest market trends, what to expect from the Fed's policy meeting this week, interest rate outlook, and more.

Persons: Neuberger Berman's Joe Amato Joe Amato, Neuberger Berman

☆ Yen's 'momentous move' means Japanese government is likely to have intervened: Portfolio manager
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYen's 'momentous move' means Japanese government is likely to have intervened: Portfolio managerKei Okamura of Neuberger Berman discusses what might be behind the currency's recent surge.

Persons: Kei Okamura, Neuberger Berman

☆ How to start a lucrative side hustle, from 4 people who've done it: ‘You can be more successful than you think’
▼ + stars: | 2024-04-30 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

"I think you can be successful with more side hustles than you think," Cody Berman, who co-runs online printables course Gold City Ventures, told CNBC Make It in January. In seventh grade, she started selling leggings for teen girls who couldn't afford larger, trendy brands. Bella Lin, 17, started a side hustle to give her guinea pigs more quality of life. Your ability to stay up-to-date on industry trends and audience demographics can affect your earnings over time, Etsy seller Tim Riegel told Make It last year. Riegel started his side hustle — making and selling steel fire pits — in 2021.

Persons: Cody Berman, Bella Lin —, Bella Lin, Lin, you've, Tim Riegel, Riegel, Becky Powell, Powell, Becky Powell's, —, Morgan Eckroth Organizations: Gold City Ventures, CNBC, Onyx Labs, YouTube, Barista Locations: Gold, Beaverton , Oregon, Portland , Oregon, U.S

☆ As pro-Palestinian protests sweep college campuses, student journalists are rushing to the big story and exams
▼ + stars: | 2024-04-26 | by ( Hadas Gold | Liam Reilly | ) edition.cnn.com time to read: +4 min

Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus. It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. And, for many of these student journalists, it’s becoming a seminal moment in their nascent careers. “Given that we’re student journalists, we know the campus and the students here. As pressure mounted on campus, the newspaper mobilized a handful of writers who worked together to cover the protests.

Persons: Arianna Smith, Smith, It’s, ” Smith, it’s, “, We’re, we’re, Anjali Patel, ” Patel, “ We’re, Amelia Kimball, Kimball, Greg Abbott, ” Kimball, CNN’s John Berman, ” Organizations: CNN, Ohio State University’s, Ohio, ”, University of Southern, The Daily, USC, Daily, University of Texas, The Daily Texan, “ Locations: Gaza, Columbus, University of Southern California, Austin, Texas

☆ Teamsters union endorses activist Ancora in Norfolk Southern proxy fight
▼ + stars: | 2024-04-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor's efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad's 13-person board. The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of Shaw and Norfolk Southern's board. Norfolk Southern and Ancora have been locked in a proxy contest for several months. Neuberger Berman, for example, is backing the activist and said that Norfolk Southern had a history of poor governance and that a boardroom change was needed.

Persons: Ancora, Alan Shaw, Shaw, Tony Cardwell, Cardwell, Jim Barber, Jamie Boychuk, Boychuk, Barber, It's, John Orr, Glass Lewis, Neuberger Berman Organizations: Thursday, Teamsters, Norfolk Southern, Norfolk, BMWED Teamsters, Labor, American Federation of Labor, Industrial Organizations, CSX, Ancora Locations: Norfolk Southern, Norfolk, U.S, East Palestine , Ohio, Washington

☆ New federal rules on airline refunds require cash instead of vouchers
▼ + stars: | 2024-04-24 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

New federal rules say travelers deserve cash refunds when inconvenienced by their airline – not vouchers or travel credits. The rules require the fees to be automatic and prompt: Within seven days for a credit card refund and 20 days for other forms of payment. Surge in complaints in 2022The Biden Administration proposed its change to the refund rules in 2022 after a surge in complaints about refunds when the coronavirus brought air travel to a standstill. More than half of the complaints involved flight disruptions or refunds. A federal law allows Congress to unravel recently implemented executive branch rules.

Persons: “, Pete Buttigieg, CNN’s John Berman, ” Buttigieg, you’re, “ That’s, ”, There’s Organizations: CNN — Airline, ”, Transportation Department, Airlines for, Biden Administration Locations: –, Airlines for America, ” “ U.S, Washington, November’s

☆ What happened to Robert Durst? The convicted killer died years before 'The Jinx' Part 2.
▼ + stars: | 2024-04-20 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +5 min

After 'The Jinx' ended, Durst was finally charged with Berman's murder and convicted in 2021Durst in prison. AdvertisementTwo days after his arrest, on March 16, 2015, Durst was officially charged with Berman's murder. Two months later, on September 17, 2021, Durst was finally convicted for Berman's murder and later sentenced to life in prison without the possibility of parole. Weeks later, Durst was also indicted in the 1982 murder of his wife. But that case never made it to trial because Durst died in January 2022.

Persons: —, Robert Durst, who'd, Durst, Kathleen McCormack, Susan Berman, he'd, Berman, He'd, Morris Black, Black, Jon Stewart, Seymour Durst, Andrew Jarecki's, McCormack, wasn't, Berman's, didn't, Weeks, Chip Lewis Organizations: Service, HBO, Authorities, Business, New York Times, Los Angeles County, Prosecutors, The New York Times, San Joaquin General Hospital Locations: York, Beverley, Los, Stockton , California

☆ As India heads to the polls, the pros name 8 top stocks to buy
▼ + stars: | 2024-04-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

"The stars have aligned for India in terms of demographics, population and market movements. Peeyush Mittal, portfolio manager at Matthews Asia, agrees with the consensus that Modi will win a majority once again — which would be a "non-event" for markets. Conrad Saldanha, portfolio manager at the Neuberger Berman Emerging Markets Equity Fund, agrees. Among the companies on his watch are power equipment player Bharat Heavy Electricals and engineering conglomerate Thermax , amid an expected expansion in power generation capacity. According to FactSet data, 24 of the 26 analysts covering the stock have a buy or overweight rating on it.

Persons: Narendra Modi, Neil Bahal, Peeyush Mittal, Modi, Mittal, Conrad Saldanha, Neuberger Berman, Bharat, Neuberger Berman's Saldanha, Saldanha Organizations: South, Bombay Stock Exchange, CNBC Pro, —, Matthews Asia, Reserve Bank of, India Fund, Neuberger, Markets Equity Fund, Cummins India, Investor, Bharat Electronics, ICICI, HDFC, IndusInd Bank, Apollo Locations: Hong Kong, India, Reserve Bank of India, Saldanha

☆ Expect three rate cuts this year: Neuberger Berman's Kroft
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect three rate cuts this year: Neuberger Berman's KroftHolly Newman Kroft, Neuberger Berman managing director, joins 'Money Movers' to discuss the market reaction to recent geopolitical events, what clients are most concerned about, and more.

Persons: Neuberger Berman's, Holly Newman Kroft, Neuberger Berman

☆ Women athletes are on fire. See the 13 top investors and fund managers pouring money into the next 'big opportunity' in sports.
▼ + stars: | 2024-04-14 | by ( Tiara White | ) www.businessinsider.com time to read: +3 min

It comes at a time when women's sports generally — from basketball to soccer and even volleyball — are attracting new viewers. Last week's college women's basketball championship game between the Hawkeyes and the South Carolina Gamecocks, meanwhile, snagged more viewers than any basketball — women or men, college or pro — since 2019, ESPN said. It's not just women's college ball that's luring eyeballs. Attendance at US women's pro soccer games increased by 23% in 2023, according to National World Soccer League commissioner Jessica Berman. And that's just the start, according to hedge fund mogul Marc Larsry, who recently declared women's sports the next "big opportunity" for sports investing.

Persons: Big3, Caitlin Clark, Caitlin, Ted Lasso, Jason Sudeikis, Travis Scott, It's, Jessica Berman, Marc Larsry Organizations: University of Iowa, Business, Iowa Hawkeyes, Hawkeyes, South Carolina Gamecocks, ESPN, National World Soccer League, Deloitte, Wall Locations: Nebraska, Silicon

☆ 'We've never seen this many extremes': Strategists warn of dot-com bubble similarities as expensive US stocks struggle — but this 7-part strategy can still outperform
▼ + stars: | 2024-04-13 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

From late October through March, the S&P 500 enjoyed a virtually uninterrupted 27.6% rally based on better-than-expected earnings and economic data. And while it's still well below the dot-com bubble levels, it's still too close for comfort for many investors. Related story"Those higher rates are starting to push back on elevated valuations for stocks right now," Saglimbene said. "They're all much cheaper on an earnings basis than those Magnificent 7 companies," Saglimbene said. "So I think if we avoid a recession this year, the narrative will change to a broadening of companies and sectors that can participate in earnings growth this year."

Persons: aren't, Anthony Saglimbene, Rick Pitcairn, Pitcairn, it's, we've, Raheel Siddiqui, Neuberger Berman, Siddiqui, Jon Wolfenbarger, Albert Edwards, Bill Smead, James Ragan, DA Davidson, Ragan, Saglimbene, Indrani, she's, De, Davidson, Siddiqui's Organizations: Ameriprise, Business, DA, FTSE Russell, Investors Locations: Ameriprise

☆ Robert Downey Jr.'s 'showboating' performances in 'The Sympathizer' are polarizing critics. Here's what reviews are saying about HBO's new series.
▼ + stars: | 2024-04-12 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +7 min

The series follows an agent referred to only as the Captain (Hoa Xuande), who's half-Vietnamese and half-French. Aligned with North Vietnam, he's embedded within the South Vietnam army. Critics have generally praised the series, particularly Xuande's performance and Park's direction (in addition to showrunning duties, he directs the first three episodes). Here's a breakdown of where some reviewers stand ahead of the series premiere on HBO Sunday evening. AdvertisementVariety's Alison Herman says that splitting Downey into parts both "deploys and diffuses" the impact of his celebrity on the series.

Persons: Viet Thanh Nguyen's Pulitzer, Hoa, Critics, —, Viet Thanh Nguyen, Chan, Don McKellar, he's, Robert Downey Jr, Xuande, Hopper Stone, Alan Sepinwall, IndieWire's Ben Travers, Tran Bui, Beth Dubber, weren't, Robert Downey's, Laura Sirikul, Sirikul, Variety's Alison Herman, Herman, Christopher Nolan's, Oppenheimer, Nick Schager, Downey, Sandra Oh, Park Chan, Nguyen's, Judy Berman, Rory Doherty, lauds, Doherty, Inverse's, Fred Nguyen Khan, Duy Nguyen, Sepinwall, IndieWire's Travers, Richard Lawson, Schager, Thanh, Fair's Lawson, Marina Fang Organizations: HBO, Viet Thanh, Service, Downey, Stone, Daily Locations: Viet, North Vietnam, Vietnam, United States, Korean

☆ 'Big Short' investor Steve Eisman details the 4 themes that have him betting on a turbocharged infrastructure boom instead of chasing AI hype
▼ + stars: | 2024-04-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview2008's housing crash might be long over, but Steve Eisman is not done looking for the next big macro trade. The investor — famous for his subprime mortgage bet, as documented in "The Big Short" — is now eyeing infrastructure as biggest winner of today's conditions. "You take all four of those boxes, and you turbocharge them by the fact that the United States has not had an industrial policy in anyone's lifetime," Eisman said. While Eisman believes in AI and infrastructure, he has no faith in crypto's potential, he said.

Persons: —, Steve Eisman, Eisman, Neuberger Berman —, they've, Eaton, United States — everybody's Organizations: Service, Business, JPMorgan, Apple Locations: United States

☆ ‘Big Short’ investor Steve Eisman is betting big on infrastructure. Here are his top picks
▼ + stars: | 2024-04-05 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of "The Big Short" fame has been bullish on infrastructure stocks after studying the industry for the past two years, and here are the companies he likes the most. Eisman, senior portfolio manager at Neuberger Berman, said he has narrowed the universe of investable stocks to 80 stocks. The stocks Eisman passed up included residential solar companies, which already had a great run during the Covid-19 pandemic as major beneficiaries of zero interest rates. Instead, Eisman likes solar panel companies that sell to utilities, which he said are doing well from a fundamental perspective. CRH 1Y mountain CRH PLC Eisman shot to fame by betting against subprime mortgage loans before the 2008 financial crisis, as chronicled in Michael Lewis' "The Big Short" and the subsequent Oscar-winning movie based on the book.

Persons: Steve Eisman, Neuberger Berman, Bloomberg's, Eisman, Michael Lewis Organizations: Eaton Corporation, CRH Locations: Eaton, Ireland, U.S

☆ Norfolk Southern activist investor highlights past abusive behavior of new COO as proxy fight intensifies
▼ + stars: | 2024-04-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +6 min

Last month, Norfolk Southern hired Orr away from rival CPKC, paying tens of millions of dollars to buy him out of his contract. A witness told the arbitrator that, in one instance, Orr told the employee that she "was so f------ stupid it was embarrassing." Prior to the announced hiring of Orr, Ancora drew attention to claims about his behavior in emails to two Norfolk Southern board members that CNBC obtained. Norfolk Southern told CNBC in a statement that Ancora's analysis of the value of the route — the Meridian Speedway agreement — "is completely inaccurate and based on a flawed premise," in that it assumes Norfolk Southern is forgoing more revenue than it actually is. Regarding Orr, Norfolk Southern said he has a "track record of improving performance while operating safely and with integrity."

Persons: Ancora, Alan Shaw, John Orr, Orr, Jim Barber, Jamie Boychuk, Shaw, John, Mr, Neuberger Berman, Gordon Haskett, Don Bilson, it's, isn't Organizations: Norfolk Southern, Getty Images, Wall, Canadian National, Canadian, CNBC, Norfolk, Meridian, CSX, Longacre Square Partners, Barclays Locations: Atlanta , Georgia, Getty Images Norfolk, Norfolk, Norfolk Southern, U.S, Orr, East Palestine , Ohio

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