On Friday, the investment firm, Ancora Holdings Group, announced that its nominations for executive positions at Norfolk Southern Corp. have been endorsed by the Brotherhood of Locomotive Engineers and Trainmen Division of the International Brotherhood of Teamsters, otherwise known as BLET.
The BLET is a labor union that represents several job titles within Norfolk Southern, including locomotive engineers, conductors, brakemen, firemen, switchmen, hostlers, and other train service employees.
Jim Barber, the proposed CEO of Norfolk, commented on the support, saying, "It's an honor to have the backing of BLET Teamsters, who share our belief in our strategy to enhance performance, boost safety measures, and nurture employee relations at Norfolk Southern. Jamie Boychuk and I engaged in an insightful discussion with the Brotherhood about the challenges that the railroad currently encounters under its existing management."
At present, shares of Norfolk are priced at $239.70 on the New York Stock Exchange, marking a drop of 0.47 percent.
