'It Will Get Better,' Norfolk Southern CEO Tells Stockholders
15 May 2009 - 4:51AM
PR Newswire (US)
NORFOLK, Va., May 14 /PRNewswire-FirstCall/ -- The business
fundamentals that created a record five-year run for Norfolk
Southern Corporation (NYSE: NSC) leading into the recession are
still in place, and, "Longer term, it will get better," said Chief
Executive Officer Wick Moorman during the company's 27th annual
stockholders meeting, held today in Williamsburg, Va. "Rail's
future and our potential to help solve our nation's transportation
crisis are as promising today as they have ever been," Moorman
said. "The fundamentals of our business are very strong," he said.
"The factors that drove our growth over the past five years --
higher fuel efficiency in a world with rising energy costs along
with ever-increasing highway congestion -- are still there, along
with our superior performance in terms of emissions and
sustainability." Moorman's remarks are posted on the company's Web
site at http://www.nscorp.com/. In official business, stockholders
re-elected four directors: Daniel A. Carp, chairman of the board of
Delta Airlines Corporation; Steven F. Leer, chairman and chief
executive officer of Arch Coal, Inc.; Michael D. Lockhart,
chairman, chief executive officer, and president of Armstrong World
Industries; and Moorman. Stockholders also ratified the appointment
of KPMG LLP as auditors and did not approve a stockholder proposal
concerning additional disclosure of corporate political
contributions. Norfolk Southern Corporation is one of the nation's
premier transportation companies. 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 superior connections to
western rail carriers. Norfolk Southern operates the most extensive
intermodal network in the East and is North America's largest rail
carrier of metals and automotive products. DATASOURCE: Norfolk
Southern Corporation CONTACT: Media, Frank Brown, +1-757-629-2710,
, or Investors, Leanne Marilley, +1-757-629-2861, , both of Norfolk
Southern Web Site: http://www.nscorp.com/
Copyright