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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Norfolk Southern's Best Is Still To Come, CEO Moorman Tells Stockholders

NORFOLK, Va., May 9, 2013 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) has made great strides over its 30-year history, posting its best-ever performance over the past two years, "and the best is still to come," CEO Wick Moorman told stockholders at the company's 31 st annual meeting, held today at Williamsburg, Va.

"Our railroad is on track to continue to do great things as we continue emphasizing operating efficiency and productivity," Moorman said. "I'm excited and optimistic about our company's future."

Moorman noted that even with a downturn in coal traffic in 2012, Norfolk Southern still recorded its second-best year for revenue, operating income, net income, and earnings per share – topped only by 2011.

Moorman said the company's public-private partnership investments in strategic rail corridors position intermodal business as a major competitive strength. New intermodal facilities opened over the past two years "help us build business, while creating jobs in communities and strengthening local economies."

He praised the skill of employees and their efforts to sustain Norfolk Southern's industry leadership in safety, service, and environmental responsibility.

Moorman thanked three retiring directors for their longstanding distinguished service to the corporation: Jerry Baliles, director of the Miller Center of Public Affairs at the University of Virginia and former governor of Virginia; Pete Correll, chairman of Atlanta Equity Investors and former chairman of Georgia Pacific Corporation; and Adm. Paul Reason, former president and chief operations officer of Metro Machine Corporation and retired four-star admiral assigned as commander in chief U.S. Atlantic Fleet.  

In official business, stockholders re-elected 12 directors for terms expiring in 2014: Thomas D. Bell Jr., chairman of Mesa Capital Partners; Erskine B. Bowles, senior advisor to BDT Capital Partners LLC and Carousel Capital; Robert A. Bradway, chairman and chief executive officer of Amgen Inc.; Wesley G. Bush, chairman, president, and chief executive officer of Northrop Grumman Corporation; Daniel A. Carp, chairman of Delta Air Lines Inc.; Karen N. Horn, a partner with Brock Capital Group; Burton M. Joyce, former chairman of IPSCO; Steven F. Leer, executive chairman of Arch Coal Inc.; Michael D. Lockhart, retired chairman, president, and chief executive officer of Armstrong World Industries Inc.; Moorman; Martin H. Nesbitt, co-founder of The Vistria Group; and John R. Thompson, government relations consultant for Best Buy Co. Inc.

Stockholders ratified appointment of KPMG LLP as auditors, approved an advisory resolution on the compensation of executive officers, and approved an amendment to the company's bylaws to give stockholders the right to call a special meeting.

1 of 2

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 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

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