Month: February 2023

‘Crafting an illusion’: US rail firms’ multimillion-dollar PR push

Norfolk Southern, the company behind the Ohio train crash, and other rail firms spent millions on marketing and lobbying By Adam Lowenstein for Six children, smiling and laughing, sit at a table with lunch boxes open in front of them. “Hey guys! My dad can stop a train with his finger,” one brags. “My […]

Union Pacific to seek new CEO after hedge fund prods board of directors

By Bill Stephens | February 26, 2023 for Soroban Capital touts former COO Jim Vena as replacement for CEO Lance Fritz A hedge fund, arguing that Union Pacific ranks dead last in every important operating metric, has asked the railroad’s board of directors to replace current CEO Lance Fritz with former Chief Operating Officer Jim Vena. […]

Union Pacific will replace rail CEO amid hedge fund pressure

By  JOSH FUNK The Associated Press Union Pacific announced plans Sunday to replace its CEO later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. The managing partner of Soroban Capital Partners, Eric Mandelblatt, said in a letter that the Omaha, […]

Norfolk Southern CEO defends railroad’s response to Ohio derailment

By Artemis Moshtaghian, Linh Tran, Yon Pomrenze and Chris Isidore, East Palestine, Ohio(CNN)Norfolk Southern CEO Alan Shaw defended his company’s actions since the disaster caused by the derailment of one of its trains in East Palestine, Ohio, and promised the railroad will pay for the cleanup. “Norfolk Southern is committed to the community and […]

White House renews pressure on railroads over paid sick leave

By Nandita Bose for Top White House officials spoke to executives from the largest U.S. railroad operators in recent days, renewing pressure to reach an agreement to secure paid sick leave for workers after President Joe Biden signed legislation to block a national railroad strike in December. Biden’s top economic adviser, Brian Deese, and […]

Two rail unions reach deal with CSX railroad for paid sick time

By Vanessa Yurkevich, for CSX Transportation announced Tuesday that it had reached a deal with two railroad unions regarding paid sick leave. The agreement reached between CSX and the Brotherhood of Maintenance of Way Employes Division, which represents engineers, and the Brotherhood of Railway Carmen, which represents mechanical workers, will provide 5,000 union members […]

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February 2023