Today's Wall Street Journal reads that Ancora Holdings has taken a $1 Billion stake in NS and will wage a proxy fight to place new Directors on the Board and remove CEO Alan Shaw from his post. Costs from the headline derailment at East Palestine, OH continue to pile up, now surpassing $1.1 Billion and revenue and income have been on a steady decline. We've seen bareknuckle boardroom brawls play out with other Class 1s with varying results.
All too often the RR being pillaged by the so-called "investor" group, for a quick profit. After which the lack of capital does wonders for maintaining a safe operation..... NOT.
All, Here's the full article >Report: Activist Investor Attempting NS Takeover - Railway Age if interested . Tom
