Ancora proposes safety upgrade for Norfolk Southern trains
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CLEVELAND – Ancora Holdings Group, LLC, a significant shareholder in Norfolk Southern Corporation (NYSE: NYSE:NSC), has announced its intention to implement a policy requiring two-person crews on all mainline trains if its slate of director candidates and suggested management team are elected. This move is aimed at enhancing the safety of Norfolk Southern’s operations.
The proposed policy underlines the importance of human oversight in railroad safety, despite technological advancements. The Ancora-led group, which includes former Ohio Governor John Kasich and other industry professionals, emphasizes that experienced conductors and engineers are crucial for safe and productive train operations.
Ancora’s announcement comes as part of a broader push for changes at Norfolk Southern, detailed in a summarized white paper available to the public. The white paper outlines the group’s analysis and recommendations for improving the company’s safety culture.
The shareholder group’s director candidates and proposed management team believe that a two-person crew is essential for addressing and resolving operational problems effectively. They assert that railroad operations will continue to rely on human judgment and quick decision-making in response to unexpected circumstances.
Ancora Holdings, founded in 2003, provides investment advisory, wealth management, retirement plan services, and insurance solutions. The firm has a history of supporting union labor and has worked with union groups and public pension plans to deliver long-term value.
The information released by Ancora contains forward-looking statements and is based on a press release statement. These statements are subject to risks, uncertainties, and assumptions, and there is no guarantee that the proposed changes will be enacted or that they will result in the anticipated outcomes.
Shareholders of Norfolk Southern are advised to read the preliminary proxy statement and other proxy materials filed by Ancora as they become available, as they will contain important information regarding the proposed changes. These materials will be accessible on the Securities and Exchange Commission’s (SEC) website and on www.movenscforward.com.
