Cos lobby against Obama bid for more tax documents
2010-03-16 02:52:34
Keywords: Industrial conglomerates,United States of America,Washington / US Government News,Tax,Macro-Economics,Domestic Politics,Regulation and enforcement,Commercial services and supplies (industry group),Industrial machinery,Machinery,Financials,Rail and road -
Quote: "It's akin to the shark and the blood in the water," Henry
Wolf, a former chief financial officer at Norfolk Southern
(NSC.N), said at a recent KPMG session on the topic. "Any good
red-blooded IRS agent is going to be under enormous pressure
not only to delve into the issue," but also to follow up with
an exam, he said. IRS chief counsel William Wilkins has defended the proposal
against loud complaints from corporate officials in several
recent forums in Washington. The IRS says the new requirem...
Read articleJim Cramer's Best Blogs
2010-03-15 05:11:32
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Jim Cramer ,Commentary
Quote: The whole way, by the way, the media lapped it up.But now there are only three of them -- Norfolk Southern NSC), CSX and Union Pacific UNP) -- and they are pretty unstoppable. If you think of what they carry, the whole thing feels counterintuitive. Coal is one of the biggest goods shipped and it's over-inventoried, so no reason to think that can be the driver. Lumber? Not doing well at all. Cars? Come on, they are still operating far below the old capacity. Fertilizer and grains? Both doing badl...
Read articleAnalyst upgrades Norfolk Southern to 'Overweight'
2010-03-11 05:42:37
Quote: NEW YORK (AP) -- A Barclays Capital analyst said Monday he believes investors aren't paying enough attention to the earnings growth potential of Norfolk Southern Corp., citing the railroad operator's pricing strength, improving shipping volume and potential for stronger coal shipments.Analyst Gary Chase upgraded the stock to "Overweight" from "Equal Weight" and raised his share price target to $62 from $55.He said in a client note that Wall Street's current earnings forecasts for the railroad se...
Read articleNorfolk Southern CEO makes $10.9 million in 2009
2010-03-11 05:42:36
Quote: PHILADELPHIA (AP) -- The CEO of Norfolk Southern Corp. received $10.9 million in compensation for 2009, 9 percent less than the prior year as the railroad operator grappled with the economic downturn, according to an Associated Press analysis of a regulatory filing Friday.The smaller compensation was due to a $1.1 million decline in Charles Moorman's performance-based bonus, which was not offset by much smaller increases in other compensation. Moorman is also the company's chairman and president...
Read articleFidelity's Transportation, Airline Funds Soar
2010-03-11 05:42:34
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Kevin Baker ,Review & Outlook
Quote: The Department of Commerce last week said January's new orders for manufactured goods rose 1.7% and shipments climbed 0.3% over December, buoying railroads.Other railroad stocks held by the Fidelity fund include Union PacificUNP), which gained 11%; CSXCSX), which advanced 10%; and Norfolk SouthernNSC), which increased 9%. The three railroads represent more than 35% of the fund's assets.The third- and fifth-largest holdings, respectively, are Delta Air LinesDAL), up 5%; and Southwest AirlinesLUV)...
Read articleNorfolk Southern CEO makes $10.9 million in 2009
2010-03-09 05:42:48
Quote: PHILADELPHIA (AP) -- The CEO of Norfolk Southern Corp. received $10.9 million in compensation for 2009, 9 percent less than the prior year as the railroad operator grappled with the economic downturn, according to an Associated Press analysis of a regulatory filing Friday.The smaller compensation was due to a $1.1 million decline in Charles Moorman's performance-based bonus, which was not offset by much smaller increases in other compensation. Moorman is also the company's chairman and president...
Read articleNorfolk Southern to Pay $4 Million in Chlorine Spill Settlement
2010-03-09 05:42:47
Keywords: Norfolk Southern Corp. Railroad, settlement chlorine gas diesel fuel spill, derailment
Quote: Norfolk Southern Corp. (NSC) will pay $4 million to settlecharges the company violated the federal Clean Water Act when diesel fuel and chlorine gas spilled from a derailed train,killing nine people.The 2005 derailment caused a puncture of a chlorine tanker car and diesel fuel to leak from the train's engine, the U.S.Environmental Protection Agency said. Nine people died and hundreds of others sought medical attention. More than5,000 people were evacuated from the area.The railroad o...
Read articleNorfolk to pay $4 mln to settle chlorine spill case
2010-03-09 05:42:47
Keywords: Washington / US Government News,Environment,Rail and road - freight,Road and Rail,United States of America,General News,Politics International Affairs and Law,Domestic Politics,Crime law and justice,Legislation,Industrials,Rail and road transport,Transpor
Quote: A Norfolk Southern train derailed on Jan. 6, 2005, in South
Carolina, leading to the puncture of a chlorine tank car and
the spill of diesel fuel from the locomotive engine fuel tanks,
the Justice Department and Environmental Protection Agency
said. In addition to the nine people dead from the exposure to
the chlorine, hundreds of others sought care because of
respiratory distress and more than 5,000 others were evacuated
from homes and businesses. "Companies have a responsibility to workers, em...
Read articleTransport ETF Misses Airline Rally
2010-03-04 06:30:56
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Don Dion ,ETF
Quote: The largest weighting adjustment among IYT's top 10 holdings was Norfolk SouthernNSC Quote). The fund's current 7% allocation to NSC follows an increase of more than two percentage points.Aside from the addition of KSU, most of the changes to IYT were minor. Therefore, ETF investors should continue to see long-term, stable growth holding this fund. However, don't expect IYT to be the biggest gainer among all transports-focused securities.IYT has significantly underperformed other funds such as t...
Read articleAnalyst upgrades Norfolk Southern to 'Overweight'
2010-03-02 07:28:12
Quote: NEW YORK (AP) -- A Barclays Capital analyst said Monday he believes investors aren't paying enough attention to the earnings growth potential of Norfolk Southern Corp., citing the railroad operator's pricing strength, improving shipping volume and potential for stronger coal shipments.Analyst Gary Chase upgraded the stock to "Overweight" from "Equal Weight" and raised his share price target to $62 from $55.He said in a client note that Wall Street's current earnings forecasts for the railroad se...
Read articleNorfolk Southern Chief Information Officer Butler To Address J.P. Morgan Aviation, Transportation and Defense Conference
2010-03-01 05:40:47
Quote: Â After the webcast, the presentations will be posted at www.nscorp.com.Norfolk Southern Corporation is one of the nation's premier transportation companies. Â Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Â Norfolk Southern operates the most extensive intermodal network in the East and is a...
Read articleCSX, Union Pacific announce partnership
2010-02-26 09:36:59
Quote: “We will jointly offer more containers and more lanes to more customers with more competitive schedules than ever.”CSX’s initiative follows its competitor Norfolk Southern signing a deal to handle J.B. Hunt Transportation’s cargo in November. Both railroad companies have major public-private initiatives to improve rail access between major cities and East Coast ports.CSX Intermodal is a subsidiary of CSX Corp, which employs roughly 3,500 people in Jacksonville. The parent...
Read articleMcCalla rail facility to get $105M federal grant
2010-02-18 07:31:12
Quote: Norfolk Southern’s intermodal facilities in McCalla and Memphis, Tenn., are expected to get a $105 million boost from federal stimulus funds.Federal Railroad Administration Administrator Joe Szabo and Rep. Artur Davis, D-Birmingham, are scheduled to announce the federal grant award Wednesday at the Jefferson County Courthouse.Transportation Investment Generating Economic Recovery (TIGER) Grants were released Wednesday by the U.S. Department of Transportation, granting Norfolk Southern $105...
Read articleNorfolk Southern's Crescent Corridor is Awarded $105 Million TIGER Grant From U.S. Department of Transportation
2010-02-18 07:31:11
Quote: 17Norfolk Southern'sNSCNews) Crescent Corridor Intermodal Freight Program of Projects today was awarded $105 million from the U.S. Department of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In September 2009, lead state Pennsylvania, joined by Alabama, Mississippi, Tennessee, and Virginia, submitted an application to USDOT for a $300 million TIGER grant to help improve Norfolk Southern's rail line...
Read articleNorfolk Southern's Memphis Regional Intermodal Facility Is Awarded $52.5 Million Tiger Grant From U.S. Department of Transportation
2010-02-18 07:31:00
Quote: 17Norfolk Southern’sNSCNews) planned Memphis Regional Intermodal Facility was awarded $52.5 million from the U.S. Dept. of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In July 2009, Norfolk Southern announced that it intended to construct a new intermodal terminal in Rossville, Tenn., as part of the railroad’s multi-state $2.5 billion Crescent Corridor program of projects to establis...
Read articleNorfolk Southern's Birmingham Regional Intermodal Facility is awarded $52.5 million TIGER grant from U.S. Department of Transportation
2010-02-18 07:31:00
Quote: 17Norfolk Southern'sNSCNews) planned Birmingham Regional Intermodal Facility was awarded $52.5 million from the U.S. Department of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In July 2009, Norfolk Southern announced that it intended to construct a new intermodal terminal in McCalla, Ala., adjacent to the Jefferson Metropolitan Park at McCalla, as part of the railroad's multi-state $2.5 billion Cr...
Read articleNorfolk Southern gets $105M TIGER grant for Crescent Corridor
2010-02-18 07:30:59
Quote: Department of Transportation awarded a $105 million Transportation Investment Generating Economic Recovery grant to Norfolk Southern Corp.’s Crescent Corridor Intermodal Freight Program, which includes the planned Fayette County operation.Under the American Recovery and Reinvestment Act of 2009, the grant gives money to the railroad to improve its rail lines and facilities between the Gulf Coast and the Northeast.The grant enables Norfolk Southern (NYSE: NSC) to begin construction of sever...
Read articleNORFOLK SOUTHERN CORP Files SEC form 10-K, Annual Report
2010-02-18 07:30:59
Quote: Item 7.Management's Discussion and Analysis of Financial Condition and
Results of Operations
Norfolk Southern Corporation and Subsidiaries
Management's Discussion and Analysis of
Financial Condition and Results of Operations
The following discussion and analysis should be read in conjunction with the
Consolidated Financial Statements and Notes and the Selected Financial Data.
OVERVIEW
While NS' results in 2009 reflect the decline of the domestic and global
economies, they also demonstrate N...
Read articleNorfolk Southern CFO Squires to Address 2010 BB&T Capital Markets Transportation Services Conference and Stifel Nicolaus Transportation Conference
2010-02-16 03:23:47
Quote: SquiresNorfolk Southern Corporation (NYSE: NSC), will participate in the following upcoming transportation conferences:BB&T Capital Markets 25th AnnualStifel Nicolaus 2010Transportation Services ConferenceTransportation ConferenceWednesday, Feb. 10, 10:45 a.m. (EST)Thursday, Feb. 11, 11 a.m. (EST)The Biltmore Hotel,The Ritz-Carlton,Coral Gables, Fla.Key Biscayne, Fla.Webcast URL:http://bit.ly/aOcBP6Webcast URL:http://bit.ly/cc5SeGwww.nscorp.com.route miles in 22 states and the District of Co...
Read articleNorfolk Southern Foundation Awards $5.7 Million in 2009
2010-02-16 03:23:46
Quote: 11Norfolk Southern Foundation, the charitable giving affiliate of Norfolk Southern Corporation (NYSE: NSC), awarded grants worth more than $5.7 million to nonprofit charitable organizations in 2009.The grants included $1.47 million in employee matching gifts in support of 535 organizations. Â Grants other than matching gifts went to 329 organizations in Norfolk Southern's operating territory.The Foundation contributed to 75 United Way campaigns plus other health and human services nonprofits (...
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