Norfolk Southern’s 2009 capital spending program, totaling$1.412 billion, is the railroad's second-largest in five years. It is exceeded by 2008’s $1.556 billion, but tops expenditures of $1.341 billion in 2007, $1.178 billion in 2006, and $1.025 billion in 2005.
Hedge funds TCI (The Children’s Investment Fund) and 3GCapital Partners won four seats on the CSX Corp. board of directors in a proxy fight last year. Now, TCI managing partner Christopher Hohn has decided not to seek re-election to the board this year and CSX has decided not to fill the vacancy, according to a filing with the Securities and Exchange Commission onFeb. 12.
Greenbrier Cos. says it will reduce its work force by roughly 150, in an effort to rein in costs during the current economic recession.