Norfolk Southern

Norfolk Southern is the worst-performing Class I railroad under CEO Alan Shaw's failed 'resilience railroading'; elect Ancora's slate to install Jim Barber as CEO, adopt true PSR, and unlock ~60% upside.

Norfolk Southern is the only Class I rail without PSR; electing Ancora's seven nominees replaces Alan Shaw with Barber and Boychuk to redesign the network and reach $420/share.

Cleveland-Cliffs CEO publicly endorses Ancora's Norfolk Southern proxy fight, citing Cliffs' own 2014 board-overhaul win as proof that disciplined activism creates durable value.