XPost: misc.transport.rail.americas, alt.politics.democrats, alt   
   fan.rush-limbaugh   
   XPost: talk.politics.guns, sac.politics   
   From: democrat-insurrection@mail.house.gov   
      
   https://apnews.com/article/norfolk-southern-ceo-alan-shaw-ethics-   
   599ec205bf13f65cc744f946b5e4a472   
      
   Norfolk Southern said Wednesday it has fired CEO Alan Shaw for having an   
   inappropriate relationship with a subordinate.   
      
   His ouster comes after two difficult years in the top job and just days   
   after the company’s board announced it was investigating him for alleged   
   ethical lapses.   
      
   The Atlanta-based railroad said Shaw had an inappropriate consensual   
   relationship with Norfolk Southern’s chief legal officer, who was also   
   terminated. Norfolk Southern promoted Chief Financial Officer Mark George   
   to be the railroad’s next CEO.   
      
   Shaw was leading Norfolk Southern in February 2023 when one of its trains   
   derailed, spilled toxic chemicals and caught fire in East Palestine, Ohio,   
   the worst railroad disaster in the last decade. Then, activist investor   
   Ancora Holdings tried to take control of the railroad earlier this year   
   and fire Shaw.   
      
   He weathered congressional hearings and difficult community meetings after   
   the East Palestine derailment, while promising to make Norfolk Southern   
   the “gold standard for safety” in the industry. He also managed to   
   persuade investors not to back the majority of Ancora’s board nominees.   
   Three of its nominees did win seats on the railroad’s board, but that   
   wasn’t enough to give it control.   
      
   The derailment near the Ohio-Pennsylvania border prompted the nation to   
   re-examine railroad safety and led lawmakers and regulators to call for   
   reforms. But those proposals have largely stalled, and the industry has   
   made only minimal changes since the derailment, such as installing more   
   trackside detectors to spot overheating bearings like the one that caused   
   the East Palestine crash.   
      
   The disappointing financial results Norfolk Southern delivered after the   
   derailment, combined with questions about Shaw’s strategy of keeping more   
   workers on hand during a downturn, made the railroad ripe for pressure   
   from an investor like Ancora. Norfolk Southern’s profits have consistently   
   lagged behind the other major railroads that more aggressively adopted the   
   lean operating model that has become the industry standard.   
      
   The railroad said Shaw’s firing was unrelated to Norfolk Southern’s   
   financial performance, and the board reaffirmed its financial guidance.   
   The railroad has said it expects to improve productivity by about $550   
   million and boost its profit margin over the next two years.   
      
   Shaw received $13.4 million compensation last year in his first full year   
   as CEO. The railroad said earlier this year that Shaw would be entitled to   
   nearly $9.6 million in retirement compensation if he left the company. It   
   wasn’t immediately clear how being fired for cause will affect the $2.3   
   million severance pay Norfolk Southern had previously promised him. More   
   details on his final compensation are expected to be disclosed Thursday.   
      
   The railroad’s Chairman Claude Mongeau said, “The Board has full   
   confidence in Mark and his ability to continue delivering on our   
   commitments to shareholders and other stakeholders” despite having only   
   worked on the railroad since 2019. Previously, George was CFO for air   
   conditioning maker Carrier Corporation and Otis Elevator Company.   
      
   Mongeau said George will work with John Orr — the chief operating officer   
   hired during its fight with Ancora — to continue improving the railroad’s   
   profits by cutting costs and getting more efficient.   
      
   “I look forward to my continued partnership with John and the entire   
   (Norfolk Southern) team as we further our progress on optimizing   
   operations and serving our customers, while creating a safe and satisfying   
   workplace and delivering enhanced value for our employees, customers,   
   shareholders, and communities,” George said in a statement.   
      
   Norfolk Southern is one of the six largest railroads in North America with   
   tracks crisscrossing the Eastern United States.   
      
      
   --   
   We live in a time where intelligent people are being silenced so that   
   stupid people won't be offended.   
      
   Durham Report: The FBI has an integrity problem.  It has none.   
      
   No collusion - Special Counsel Robert Swan Mueller III, March 2019.   
   Officially made Nancy Pelosi a two-time impeachment loser.   
      
   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
   fiasco, President Trump.   
      
   Under Barack Obama's leadership, the United States of America became the   
   The World According To Garp.  Obama sold out heterosexuals for Hollywood   
   queer liberal democrat donors.   
      
   President Trump boosted the economy, reduced illegal invasions, appointed   
   dozens of judges and three SCOTUS justices.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)