Thursday, February 20, 2014

Moorman to USCOC: “Freight rail vital to economic prosperity”

Written by  William C. Vantuono, Editor-in-Chief
Wick Moorman, Norfolk Southern Wick Moorman, Norfolk Southern
Speaking on Feb. 20, 2014 in Washington, D.C., to a U.S. Chamber of Commerce meeting on infrastructure, Norfolk Southern CEO Wick Moorman said freight railroads are “essential to driving America’s continued economic recovery.”

Moorman said railroad improvements in technology, service, and capacity “provide America with a key competitive advantage in the marketplace and serve to bolster economic prosperity.” He pointed to resurgence in domestic manufacturing, noting, “The freight rail industry will be there to assist companies as they seek to take advantage of these favorable trends.”

Moorman said a balanced regulatory environment is key to the railroads’ ability to continue earning the capital necessary to invest in new markets: “Railroads are an essential partner to government and business in rebuilding America and positioning it for a prosperous future, but we can reach that goal only if we can continue to grow and reinvest. If freight railroads do our job well, the economy grows, and America ultimately prospers—a win for all of us.”