New ETF Book by Larry Connors - Click here to read more
The new agreement covers approximately 5,000 engineers and provides each engineer the opportunity for an annual bonus payment based on company financial and service performance metrics and, for the first time, his or her work availability in the previous year.
Other highlights of the agreement include annual wage increases totaling 19 percent from 2009 through 2014, enhancements to the BLET's 401k plan, increased incentive pay for weekend/holiday work, reduced employee costs for the BLET disability plan, and increased pay for engineers who assist in training new engineers. The annual wage increases average approximately 3.2 percent per year. Eligible engineers will receive up to two lump-sum payments: a signing bonus of $1,200 by Dec. 1, 2008, and a lump-sum bonus payment of $3,500 by Jan. 1, 2009.
BLET General Chairman Ray Wallace said, "The BLET has enjoyed a strong partnership with Norfolk Southern over the years. This agreement ensures that Norfolk Southern's success will continue to be financially beneficial to our members."
BLET General Chairman Cole Davis added, "Engineers are an integral part of Norfolk Southern operations. The financial package in this agreement ensures that our members are compensated for their contributions to the company's performance."
BLET General Chairman Willard Knight concluded, "This agreement recognizes and rewards the hard work that our members perform each day to improve Norfolk Southern's prosperity."
Norfolk Southern Vice President Labor Relations Harold Mobley said, "Reaching a long term agreement that links engineer compensation to our corporate goals will allow all of us to continue to focus on the railroad's safety, operating efficiency, and customer service."
Norfolk Southern Corporation (NYSE: NSC | Quote | Chart | News | PowerRating) is one of the nation's premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serving every major container port in the eastern United States and providing superior connections to western rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is North America's largest rail carrier of metals and automotive products.
SOURCE Norfolk Southern Corporation
http://www.nscorp.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
