This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Norfolk Southern CEO Moorman Supports The Long View Before U.S. House Rail Panel

Stock quotes in this article: NSC

WASHINGTON, April 24, 2013 /PRNewswire/ -- America needs fair and clear long-term policies that encourage continued investment in railroad infrastructure, technology, and sustainability initiatives, Norfolk Southern (NYSE: NSC) CEO Wick Moorman told a federal panel today.

"Industries, jobs, and taxes want to go where the railroad is," Moorman told the U.S. House of Representatives Transportation and Infrastructure Committee's Special Panel on 21 st Century Freight Transportation. "In the last decade, 1,021 new and expanded facilities located along Norfolk Southern rail lines, representing $28.7 billion in customer investment and generating more than 48,000 jobs. That's just one railroad. What an incredible incentive to support railroads everywhere."

Moorman discussed Norfolk Southern's Crescent Corridor series of infrastructure improvements, as well as other initiatives, and said government should remove regulatory impediments to enhancing railroad safety and efficiency, as well reduce the deficit and put the economy on sound footing.

"Privately owned railroads are not only a barometer of the economy, but an essential element in solving this country's freight transportation problem," Moorman said. "We are planning for growth and investing for the future. I hope that, working with you, we all can look far ahead and do everything possible to make it happen."

Rep. John J. Duncan Jr. (R-TN) is chair and Jerrold Nadler (D-NY) is ranking member of the Special Panel, which has a six-month charter to examine the current state of freight transportation in the U.S. and how strengthening freight transportation can strengthen the economy.

To read Moorman's full statement, click here. View slides here.

Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 20,000 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. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal, automotive, and industrial products.

Connect with NS http://www.nscorp.com http://www.facebook.com/NorfolkSouthern http://www.flickr.com/photos/norfolksouthern http://www.twitter.com/nscorp http://www.youtube.com/user/norfolksoutherncorp http://www.nscorp.com/nscportal/nscorp/RSS/rss.html

SOURCE Norfolk Southern Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs