Friday, March 19, 2010

NS CEO tells shareholders of “positive momentum”

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In a message to stockholders in the 2009 Annual Report, released Thursday, Norfolk Southern CEO Wick Moorman says the company entered the new year with "positive momentum" and that “while the short-term economic outlook remains somewhat uncertain, the longer-term prospects for Norfolk Southern and the railroad industry remain very bright.”

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Moorman (pictured at left) cited the company’s strides last year in safety and service, along with cost control, continued investment in key projects, and pursuit of new business opportunities, and said “these same strategies will drive our continuing success in 2010 and beyond.”

“Our traffic levels increased sequentially in both the third and fourth quarters of 2009, and we’re confident many of the cos tefficiencies we achieved in 2009 will remain in place as we see rail traffic continue to increase,” Moorman said.

The annual report is available on the company’s Web site at www.nscorp.com