Norfolk Southern CEO on Mad Money

TL;DR

NSC CEO Alan Shaw chatted with Jim Cramer on Mad Money yesterday. Watch for investor reaction.

AI Summary

Norfolk Southern Corporation filed a DEFA14A on March 28, 2024, indicating a proxy statement. The filing highlights that on March 27, 2024, CEO Alan Shaw discussed the company's performance and outlook on CNBC's "Mad Money with Jim Cramer."

Why It Matters

This filing provides insight into the company's communication strategy and public relations efforts, potentially influencing investor sentiment and stock performance.

Risk Assessment

Risk Level: low — The filing is a standard proxy statement and does not contain significant new financial information or disclose major corporate actions that would inherently increase risk.

Key Players & Entities

• Norfolk Southern Corporation (company) — Registrant
• Alan Shaw (person) — CEO of Norfolk Southern
• Jim Cramer (person) — Host of Mad Money
• Mad Money (company) — CNBC show

FAQ

Filing Documents

• d778397ddefa14a.htm (DEFA14A) — 28KB
• 0001193125-24-080730.txt ( ) — 29KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Under Rule 14a-12 Norfolk Southern Corporation (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if Other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. On March 27, 2024, Norfolk Southerns CEO Alan Shaw participated in a conversation with Jim Cramer on Mad Money with Jim Cramer. A video of the conversation, or portions thereof, is embedded and referenced in certain communications made available on Norfolk Southerns website, employee portal, and certain social media platforms, beginning on March 28, 2024 and the Company may in the future use the same or substantially similar communications from time to time. The following is a transcript of the conversation: Jim Cramer: You know I love the railroad stocks. I have since we started this job. I ask what do we do with this proxy fight at Norfolk Southern? The big east coast railroads had an eventful past year or so. February 2023. There was a horrifying derailment in East Palestine, Ohio. Last month activists at Ancora Holdings. Billions of dollars worth of shares launched a proxy contest that was highly critical of managements ability to get their operating ratios down. A key metric. And theyre after seven seats on the board of directors. Shake things up. But on some level, the activists have a point. Norfolk Southern stock has lagged the other railroads in the past year but Ive got to hear managements side of the story. So lets take a closer look with Alan Shaw, the president and CEO of Norfolk Southern. Get a better sense of whats really going on here. Mr. Shaw, welcome back to Mad Money. Alan Shaw: Jim, great to see you again. Jim Cramer: Alright, so, Norfolk Southern has a difference of philosophy with the activists. Can you give your philosophy in how you think you can do over time? Particularly with some of these metrics like that operating ratio? Alan Shaw: Yeah, Jim, you know I became CEO less than two years ago and I laid out a transformational strategy for NS that safely and responsibly balances service, productivity and growth with safety as a core. I came on your show the next day. Jim Cramer: I know. Alan Shaw: We talked about the outsized impacts it has for shareholders and our customers. And yeah, we had a challenge last year as you noted but we met that challenge head on and never lost sight of where were taking this powerful franchise. And we improved safety last year. We improved service last year. We started to grow with our most service sensitive customers like JB Hunt and UPS. Jim Cramer: And so, people understand, thats intermodal, which is the thing thats really the big swing factor. You are winning over from trucks. Youre winning over that thing. That cargo. Alan Shaw: Yeah, thats highway conversions to rail are a part of our strategy, right? And now we have responsibly and safely created the platform for significant margin improvement in 2024 and laid the foundation for that long-term growth that you just talked about, that long-term shareholder value creation. Jim Cramer: And now we had this, again, terrible tragedy in Baltimore. Does that impact your business, and can you become someone that can help get cargo to places that right now are blocked? Alan Shaw: Yeah. Baltimore is an important port for us. It handles a lot of export coal for us as you know. But you know what, our job is to provide logistic solutions to our customers and we have got deep relationships with our customers. Were also, so were working with them on those logistics solutions. We serve every major port up and down the east coast and Norfolk Southern has the largest coal export terminal in the Northern Hemisphere down in Norfolk. So, we are working with our customers right now to provide logistics solutions to help them get around this disruption. Jim Cramer: In general, commerce right now in the country, as you see it. Because I think the rails move so much commerce, you are really a bellwether. Alan Shaw: Yeah, you know from our seat, we have a unique view of the U.S economy. We basically handle, touch every market thats out there. The automotive franchise is still doing really well. Construction market seems like its heating up a little bit. Truck market is still really loose and that drives some weakness in our intermodal franchise. But look, we are invest

View Full Filing

View this DEFA14A filing on SEC EDGAR