Todays rail slump is partly a fallout from the trade war and partly the result of long-term trends like the United States becoming less reliant on coal, experts say. These and other important factors, including those discussed under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the SEC), as supplemented in Part II, Item 1A of our Form 10-Q to be filed with the SEC on the same date as this press release, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward- looking statements. Thats better than the three previous years but still worse than a decade earlier when it reported 11.4 total accidents per million miles. Prior to Covid, The generational knowledge that was passed down previously is fast-disappearing, and workers will not have that same 1:1 contact with old hands regardless, so having institutional knowledge stored and readily available in digital format is the way of the future. It makes for very bad train handling. They point to a safety record that shows the industry is far safer today than it was two decades ago, although there have been several major derailments in recent weeks. Reconciliation of Non-GAAP Financial MeasuresInformation included within this filing includes non-GAAP financial measures, as defined by SEC Regulation G. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with U.S. generally accepted accounting principles (GAAP). The strategy has taken hold among major U.S. freight railroads since 2017, as executives hunted for a way to increase profits to make up for shrinking coal traffic and the recent downturn in the industrial economy. I used their packing and moving service the first time and the second time I packed everything and they moved it. BNSF and Union Pacific are putting their vaccine mandates on hold following a federal court decision on Tuesday. He was a locomotive engineer for Norfolk Southern for 20 years. For the quarter, income from railway operations was $711 million, and diluted earnings per share were $2 .04 down by 34% and 30%, respectively, compared to the first quarter 2022. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. According the NS petition, Reuters reported, the unions contend that imposition of a mandate constitutes a unilateral change to bargaining agreements in violation of the federal Railway Labor Act. Can Floridas gay teachers show photos? WebHealth Questionnaire for employee returning to work from non-medical absence of six months or longer Return to Work Form Medical Condition and Medication Guidance: Its hard to predict if well slide into an overall economic recession.. Felicia Hagler - via Google, In the middle of a big move and so far Jay Casey has been immensely helpful to us with all the details! The RLA distinguishes between minor disputes involving interpretation of terms of a CBA, which must be heard in arbitration, and major disputes over changes to agreements. That derailment, andotherssince then, sparked anationwide focuson railroad safety. By continuing to execute our strategic plan and provide superior service to our customers, we will move through this period successfully and be ready to capture opportunities as the economy recovers. With safety as the industrys top priority, it just makes sense. The Company uses these non-GAAP financial measures internally and believes this information provides useful supplemental information to investors to facilitate making period-to-period comparisons by excluding the effects of the Incident. Norfolk Southerns history spans nearly two centuries to the earliest days of American railroading. The city laid off 470 part-time employees this year for the same NS, SMART-TD Reach Tentative Agreement on Workplace Enhancements, UP Embargo Update: Were Making Significant Progress, NARS 2023 Annual Meeting: A New Era in Railroading, MxV Rail Speeds PuebloPlex Track Construction Projects, Canadian Regulator Announces VRCPIs for Crop Year 2023-24, Class I Briefs: BNSF, CN, CPKC, CSX, CPKC/NS/UP, FRA Safety Advisory: Train Length a Critical Factor, CARB Passes New In-Use Locomotive Regulation, CN, UP, GMXT Launching Falcon Premium (Updated April 26 with UP STB Service Metrics). While the company has withdrawn guidance for revenue and the operating ratio in 2020, Squires said the railroad remains committed to its 2021 goal of driving down the OR to 60%. ATLANTA, May 15, 2020 /PRNewswire/ -- Despite economic challenges posed by the COVID-19 pandemic, Norfolk Southern is well-positioned to safely and But theyre not likely to totally abandon the lean operating model adopted over the past six years that labor unions say has made the industry riskier because so many jobs have been cut, forcing inspections to be rushed and leaving train crews on call 24-7. Thats down from $703 million, or $2.93 per share, a year ago. Our success enabled us to dispose of 703 locomotives that are no longer needed because our network is more efficient a strong sign that our strategic plan is working.". That work is expected to wrap up in early June, which will boost traffic in the area. Norfolk Southern and other major freight railroads have announced new safety measures, including more than 1,000 more trackside detectors. Your efforts to keep the trains rolling through this pandemic have been nothing short of heroic. ATLANTA, April 26, 2023 / PRNewswire / -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. Forward-looking statementsCertain statements in this news release may be forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. John Victor - via Google, Very nice owner, extremely helpful and understanding We are proud to provide our customers with these services and value by trained professionals. I was told this furlough was indefinite. Norfolk Southern said it has already spent about $55 million to dig up and remove nearly 34,000 tons of contaminated soil and trucked away another 13.2 million gallons of tainted water. A Union Pacific spokeswoman said the average train length is about 1.5miles. Workers across the country report an increase in hitching two trains together on their routes. COVID-19 Vaccines COVID-19 Vaccines Published October 4, 2020 Last Updated April 4, 2023, 7:11 pm Vaccines are crucial tools in the fight against deadly infectious diseases. Norfolk Southern said it has already spent about $55 million to dig up and remove nearly 34,000 tons of contaminated soil and trucked away another 13.2 million We had to look at our methodology of rules instruction in a different way, so that we could continue to provide our employees with the training they need to operate and work safely. The railroads are not alone in facing resistance to vaccine mandates. In some cases, forward-looking statements may be identified by the use of words like may, will, could, would, should, expect, plan, anticipate, intend, believe, estimate, project, consider, predict, potential, feel, or other comparable terminology. WebOur Vision: Be the safest, most customer-focused and successful transportation company in the world. This system is for the use of authorized users only. Squires addressed shareholders during the company's first virtual-only annual meeting, a board decision made in light of public health concerns and social distancing guidance arising from the COVID-19 pandemic. Its a different way of running a railroad.. Norfolk Southerns first quarter profit fell 34% to $466 million, or $2.04 per share, because of the derailment costs. Rail executives say PSR enhances on-time delivery for customers. Shaw pledged to continue working to improve that record as the railroad applies the lessons from East Palestine. But the details of how much insurance will actually cover will be worked out over time. While the Company believes that these non-GAAP financial measures are useful in evaluating the Company's business, this information should be considered as supplemental in nature and is not meant to be considered in isolation from, or as a substitute for, the related financial information prepared in accordance with GAAP. What are the five most expensive homes that sold in Tahoe West Shore in the past two weeks? The railroad provided a detailed estimate of the cost of Feb. 3 derailment outside East Palestine, Ohio, Wednesday along with first-quarter earnings. You can find more information by visiting a new COVID-19 resource page. "As a result of our transformation, we've set records for metrics such as train speed, terminal dwell, and shipment consistency," Squires said. Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. Use without authority or in excess of authority constitutes a violation of company policy and may constitute a crime. When it comes to the paper trail that railroads create, theyre lagging far behind other industries. After reviewing the order carefully to be certain, we determined that we are covered under the mandate. (See full memo below.). This cloud. Its Norfolk Southern Railway Company subsidiary operates approximately 19,500 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Having an immediately accessible and mobile approach to these maintenance tasks for refresher trainers at set intervals will be crucial. Weve encouraged employees to follow guidance from public health experts regarding vaccination, but we havent mandated vaccination as some companies have done. As it has with everything else in the world, COVID-19 has impacted railroading in a variety of waysand staffing is one of them. This change resulted in a hiring process that has become wasteful and unsustainable. Even if business bounces back, the industry embrace of PSR promises to hold down the need for more workers. Ive never seen conditions like this in my 45-year career, said Jim Blaze, a railroad economist. Every economic downturn since World War II has been precipitated by nose-diving freight traffic. If you have a medical condition or sincerely held religious belief that prevents you from receiving the COVID-19 vaccine, you should apply for an accommodation by November 8. (AP) Norfolk Southern expects Februarysfiery Ohio derailmentto cost it $387 million, but that total will likely increase over time and that doesnt reflect how much the railroads insurance companies will eventually cover. This information will be treated as confidential medical information and handled as such. Learn more about the NS Green Financing Framework. If you need to ONLY access mainframe HORSE functions such as CREW CALL or MEMO, you may do so In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies. Our people rose to the challenge. Information included within this filing includes non-GAAP financial measures, as defined by SEC Regulation G. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with U.S. generally accepted accounting principles (GAAP). Prior to Covid, railroads sought to shed assets and reduce workforce size to increase shareholder return and decrease operating ratios. Copyright 2023 The Associated Press. Review Norfolk Southerns operating reports and the terms used to report performance in one convenient location. These efficiency gains helped the railroad achieve an adjusted operating ratio of 63.7% in the first quarter of 2020, when excluding the charge related to the disposition of locomotives.
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norfolk southern covid policy for employees