The activist at Norfolk Southern won support of the Teamsters union, a key endorsement as Ancora seeks to convince shareholders their plan is the right option.
INDEPENDENCE, Ohio — The Brotherhood of Locomotive Engineers and Trainmen is now backing activist investor Ancora Holdings and its call for management change at Norfolk Southern. The union’s decision, announced today, is the second in as many days: The union representing maintenance of way workers yesterday swung its support to Ancora. The unions represent 41.5% []Read More
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WASHINGTON — The AFL-CIO today became the latest organization to oppose an activist investor’s bid to gain control of Norfolk Southern. “In our view, Ancora’s business plan to reduce Norfolk Southern’s operating ratio while improving safety and service is not realistic. Railway labor unions, shippers, and federal regulators have warned that Ancora’s plans may jeopardize []Read More
Norfolk Southern says activist investor Ancora Holdings violated the Railway Labor Act when it negotiated a deal with the general chairmen of the Brotherhood of Locomotive Engineers and Trainmen in exchange for the union’s support in its proxy campaign. The BLET in February was vehemently opposed to Ancora’s plan to oust Norfolk Southern’s management and []Read More
CLEVELAND – The union representing Norfolk Southern’s maintenance of way employees has thrown its support behind activist investor Ancora Holdings. The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters said today that a change in leadership is necessary at NS. The union is backing Ancora’s full slate of director candidates []Read More
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