...Company Background Bethany Ethics and Current Events Norfolk Southern operates around a “Thoroughbred Code of Ethics,” known internally as SPIRIT: Safety, Performance, Integrity, Respect, Innovation, and Teamwork (NSwebsite). The company’s core values * Environmental commitment * http://www.nscorp.com/content/nscorp/en/news/investors-customers-communities-benefit-from-more-info-on-norfolk-southerns-environmental-commitment.html * Giving back * Norfolk Southern Foundation supports nonprofit organizations * Created in 1983, has donated almost $131 million since * Increased sum of grants to $7 million in 2013 – 13% increase from 2011 * "As a leading transportation provider, we believe we also should take the lead in investing in the communities where we operate," said Norfolk Southern CEO Wick Moorman. * Set 2013 grant sum to be $7 million as well * http://www.nscorp.com/content/nscorp/en/get-to-know-norfolk-southern/the-norfolk-southern-story.html * Top 100 military friendly employers * http://www.nscorp.com/content/nscorp/en/news/Norfolk-Southern-named-to-Top-100-Military-Friendly-Employers-list-by-G-I-Jobs-magazine.html Organizational Analysis Carly Structure Carly Leadership Charles Wick Moorman To generally examine the Norfolk Southern corporate side one must look into the board of directors and internal business structure. Norfolk Southern’s corporate listing consists of 12 board of...
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...Norfolk Southern The rail freight industry has had fluctuations in achievements with regards to various ways of shipment. The competition of shipment with various other means available in terms of sky and highway has made rail transportation less desirable. Rail freight is very inflexible; which is the reason why road freight transport has become very popular. The current status of rail freight transportation is not very efficient. In terms of the process of how Southern Norfolk and its associated transportation companies; there is not much cooperation regarding effectively swapping 40” boxes for 53” boxes. The issue came about decades ago when there were not enough 53” boxes so the focus was on creation of more 53” without much forecasting into the future of how this would ultimately affect the rail transportation industry. Norfolk Southern began operations in 1838 which connected two points in Virginia. Growth occurred rapidly for the company when they gained and additional 14 US states to service. President Mahone was responsible for the linking of Norfolk and Petersburg, Southside, Virginia, and Tennessee. A partner in one of the acquired firms Kimbell was responsible for creation of the Pochantas Coalfields West Virginia which created lines leading the various states including Ohio. When Virginia merged with Southwest this was considered an innovative and new way of the rail transportation industry with Northwest leading the trade. Conrail, which was originally the first...
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...Executive Summary Conrail has received two acquisition bids from CSX and Norfolk Southern. Introduction Conrail and CSX, the nation’s first and third largest railroads, have decided to participate in a merger of equals. CSX has offered to acquire Conrail in a two tiered deal. The first 40% of tendered Conrail shares will be bought at a price of $92.50 while the remaining 60% will be acquired through a stock swap at a ratio of 1.8561921 (CSX:Conrail). In the midst of this offer, a hostile Bid comes in from Norfolk Southern, a competitor in the Industry. Norfolk Southern offers ____ Analysis Case A, Question 1: Why is CSX interested in Conrail? How much should CSX pay for Conrail? The Stagger’s Rail Act of 1980 has created a deregulated environment in which acquisitions are used to improve the competitive positioning of existing companies within the railroad industry. CSX is interested in Conrail for a couple of reasons. Primarily, CSX would like to acquire Conrail because its routes are complementary to their own, allowing the combined company to provide “long-haul, contiguous, and therefore low-cost service between the Southern, Eastern, and Mid-Western parts of the United States.” Additionally, CSX’s acquisition of Conrail would prevent the company’s main competitor Norfolk Southern from gaining access to routes in the Northeastern United States. This would leave Norfolk Southern at a large strategic disadvantage. Lastly, the combination would provide...
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...based on perceived improvement in Synergies. A) Lower Cost Structure: Railroad is capital intensive industry with very high fixed cost. CSX-Conrail merger will lower company’s cost-structure by creating increasing economies of scale. Operating ratio of Conrail is 87.63% and CSX’s operating ratio is 81.99% (Exhibit 1). According to American Investment research report (Exhibit 10), proposed merger will bring operating ratio to 65 % (an 18.75% decrease). Both CSX and Conrail have low ROA (2.33% and 4.11%) compared to Norfolk’s ROA of 5.06 % (Table 6). If CSX and Conrail will achieve its projected revenue growth and cost-savings, CSX-Conrail will become more efficient than Norfolk. B) Gain Market Power : Based on revenue data from 1995 (Exhibit 1), CSK control 38.5%, Conrail controls 29.4% and Norfolk controls 32.1% of Northeast rail freight market. The proposed merger will allow CSX to control major share (~70 %) of the lucrative North Eastern rail market and enable them to take advantage of synergies in the space. In addition, CSX – Conrail can further improve on its market position by limiting Norfolk’s access to long-haul routes either from south or Midwest. MECHANICS OF THE CSX – CONRAIL DEAL CSX has offered a two-tiered offer for the stocks of Conrail. For the first 40% of the shares (the front-end), stockholders will get $92.50 and for the outstanding 60% of the shares shareholders will receive 1.85619 shares of CSX (the back-end offer). Based on CSX’s stock price...
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.... Why is CSX interested in acquiring Consolidated Rail Corporation (Conrail)? Describe thearguments for the offer being motivated by synergies, as well as arguments for the motivationto pre-empt a bid by Norfolk. The 1999 acquisition of Conrail, jointly split with CSX, was perhaps the most important and critical time in the company’s history. If CSX had been allowed to purchase Conrail outright, not only would NS have been entirely surrounded but also it could never againeffectively compete with CSX, even if it was able to run a railroad much more efficientlyand effectively than CSX. NS had been interested in Conrail for some time because itwould add an important addition the railroad needed, direct lines to the markets of NewYork City and Philadelphia which Conrail had been effective in developing and exploitingby becoming a intermodal (i.e., the movement of ship containers which can be movedvia over-the-road trucks as well) juggernaut moving containers between Chicago andthe Northeast.Not only was intermodal the wave of the future but NS also did not contain an effectivebusiness in such and had CSX gained complete control of the Northeast it would onlyhave been a matter of time before NS was gobbled up as well, mostly likely by aWestern road (by rules of competition, CSX would not have been allowed to purchaseNS and control the entire Eastern rail market).So, thus began the battle for Conrail in the mid-1990s when CSX announced itsintentions of purchasing the railroad...
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...Sir James Dyson Lunetta Clark Indiana Wesleyan University BSMO240 MGT-432 Organizational Behavior February 4, 2014 Dr. Marcus Myers I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Catalog relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper, I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing of this paper, I understand the possible consequences of the act/s, which could include expulsion from Indiana Wesleyan University. Sir James Dyson When we allow ourselves to make mistakes, we free ourselves from all constraints of seeking perfection and we open ourselves up to all kinds of opportunities and possibilities. We free ourselves to attempt new things or to aim higher. We know that by allowing ourselves to make mistakes, there is no emphasis on getting it right or doing it well. Instead, we create learning experiences that assist us to develop and to grow. When you grant yourself willingness to make mistakes, you open the world up to you. While we learn by studying and listening, we will learn the most by doing. Although we will demonstrate our abilities through successes, we will learn through our mistakes. Mistakes are a way for us to get feedback so we can do it right the next time. I think James Dyson would advise a recent college...
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...Developing an Enterprise Business Intelligence Capability: The Norfolk Southern Journey Business intelligence applications are the latest trend in the technology world. These applications not only help in gathering and storing data but also processing and analyzing it to make better informed decisions for its users as individuals and corporate level decisions. The article about the Norfolk Southern journey as a business intelligent firm emphasizes that it might sound easy to implement Business intelligence but in reality it is a prolonged journey of strategic decisions. It starts from understanding the business in depth and looking for areas of improvement with respect to customer service, workforce productivity, managing assets and costs. Norfolk started its journey with the Thoroughbred Operating Plan, to redesign its operations. This plan helped them to optimize inventory management and trip planning using operations research techniques for the new transaction based information systems. The application had a performance dashboard recording the actual and deviations from the train plans. The development of accessNS system helped them improve their customer services. This application allowed customers to access real-time information about shipments online rather than waiting on phone or expecting call backs. The process also involves closely knitting all the departments together to share information and process data that is usable, integrated and structured for making...
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...6) How does CSX intend to take control of Conrail? Explain how they intend to accumulate 50% of Conrail’s shares. As of October 15, 1996 CSX Corporation (CSX) intended to merge with Consolidated Rail Corporation (Conrail) by offering a two-tier deal, structured in the following manner. CSX would purchase 90.5 million fully diluted Conrail shares by paying $92.50 per share for the first 40% of the shares (the front-end offer) and would enter a share exchange for the remaining 60% of the required shares (the back-end offer). The front-end offer would be executed in two stages. The first stage, which began the day after the merger announcement, would be a cash tender offer to acquire 17.86 million shares at $92.50 per share (accounting for 19.7% of Conrail’s acquisition shares). The second stage, which could only be executed by mid-November once Conrail shareholders decided to void the “fair value” statute under Pennsylvania law, would be to acquire another 18.4 million shares at $92.50 per share (accounting for another 20.3% of Conrail’s acquisition shares) Following shareholder approval, and successful completion of the second cash tender offer, CSX would proceed with the back-end offer through a share swap of 1.85619 CSX shares for every 1 Conrail share in addition to an extra $16 of new convertible preferred stock. This two-tier structure of paying in both cash and stock not only allows CSX to abide by Pennsylvania’s antitakeover laws, but also saves on cash spent in...
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...Executive Summary Conrail has received two acquisition bids from CSX and Norfolk Southern. Introduction Conrail and CSX, the nation’s first and third largest railroads, have decided toparticipate in a merger of equals. CSX has offered to acquire Conrail in a two tiereddeal. The first 40% of tendered Conrail shares will be bought at a price of $92.50while the remaining 60% will be acquired through a stock swap at a ratio of 1.8561921 (CSX:Conrail). In the midst of this offer, a hostile Bid comes in fromNorfolk Southern, a competitor in the Industry. Norfolk Southern offers ____ Analysis Case A, Question 1: Why is CSX interested in Conrail? How much should CSX payfor Conrail? The Stagger’s Rail Act of 1980 has created a deregulated environment in whichacquisitions are used to improve the competitive positioning of existing companieswithin the railroad industry. CSX is interested in Conrail for a couple of reasons.Primarily, CSX would like to acquire Conrail because its routes are complementaryto their own, allowing the combined company to provide “long-haul, contiguous,and therefore low-cost service between the Southern, Eastern, and Mid-Westernparts of the United States.” Additionally, CSX’s acquisition of Conrail would preventthe company’s main competitor Norfolk Southern from gaining access to routes inthe Northeastern United States. This would leave Norfolk Southern at a largestrategic disadvantage. Lastly, the combination would provide cost synergies andreductions, even...
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...Baby Born in the Field By ORHAN KEMAL In the cotton field which stretched as far as the eye could see, farm hands, fifteen or twenty in a row, worked steadily at the weeds around the seedlings. The temperature soared to a hundred and forty-nine in the sun. No bird flew in the shimmering, dust-gray sky. The sun seemed to sway. The peasants, soaked with sweat, pushed and pulled their hoes in a steady rhythm. The sharp edges of the hoes chopped the parched soil with a “thrush, thrush, thrush” sound. The song the farm hands sang in unison to the measured beat of their hoes was swallowed up in the sun’s scorching heat: Into what is left back they sow millet They sow it they reap it and they wrap it My darling sent me pear and pomegranate Ferho Uzeyir wiped the sweat off his swollen hands on his baggy black trousers and turned his bloodshot eyes on his wife swinging her hoe beside him. He spoke in Kurdish, “Wha? Whatsa matter?” Gulizar was a broad-shouldered husky woman. Her dried-up face, glittering with sweat, was contorted with deep lines and grimaces of intense pain. She did not answer. Angered, Ferho Uzeyir jabbed hi elbow into her side: “What’s up with you, woman?” Gulizar gave her husband a weary glance. Her eyes had sunk with fright into their sockets. Her hoe suddenly slipped from her hands to the ground. Pressing her huge belly with her hands, bent over, then fell to her knees on the red earth everywhere cracked by the blistering sun. The foreman, who...
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...Justin Gilmore Professor James Caplinger HUM 110 3/6/2015 “The Music of the Rolling Stones” “My concept for The Music of The Rolling Stones was to take the music as close to the originals as we could and then add the orchestral colors to enhance what the Stones had done,” says Brent Havens, the conductor of the musical event (“Ted Constant Convocation Center”). Thus, Brent is trying to recreate the era from which the Rolling Stones were a major music sensation. I was not alive when the Rolling Stones were at their peak in popularity and financial success, however, the music they have produced still can connect with any generation. The intent of the concert “The Music of the Rolling Stones” is to connect the great lyrics and songwriting of the Rolling Stones with the younger and older generations. One way the conductor Brent Havens tried to make a connection with the audience is through the use of an “amplified by a full rock band and accompanied by singer Brody Dolyniuk’s vocals” (“Ted Constant Convocation Center”). The appeal of a modern sound with that of the Virginia Symphony Orchestra, “gives the music a richness”. Brody Dolyniuk said, “My goal onstage is to break down a façade,” which helps to produce a realistic feel, comparable to that of the Rolling Stones’ Mick Jagger (Ward). Brody portrays a similar stage presence as Mick Jagger, and also showed the audience “a few Mick Jagger (dance) moves,” in order to get a little more group participation. Although I enjoyed...
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...Half Way There I had just got home from work this particular day; and walked up to the mailbox just as I had done time and time again. The sun was glaring, my skin warm almost as if I was getting hit by tiny splashes of hot grease. I could not wait to get inside of the house to cool off. But this day was different, I received a letter, but not just any old letter. I received a letter from Old Dominion University. I remember getting very sweaty and it seemed as if my heart was beating right out of my chest. I rushed inside the house and started to think about all of the different possibilities of this letter. My wife then said to me, “Just open it.” To say the answer inside that envelope is important is an understatement. I had waited a very long time and put in a lot of work to get to that point. The letter represented more than just an answer it would solidify all of my hard work and dedication to that point. The time had come and I did as my wife directed, I opened the letter. The letter read something like “Dear Jonathan, congratulations, etc.” I did not have to read any further, I started to smile and tear up all at the same time. My wife instantly knew that I had indeed been accepted at Old Dominion University. That moment of that day will never be forgotten by me. I have embedded that memory into my mind as a reminder of how fulfilling it is to reach a step in the journey to medical school. To understand that although I work full time and have a family...
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...Your Name myname@odu.edu Current Address: Permanent Address: 123 Main Street 526 Big Willow Lane Portsmouth, Virginia 23703 Richmond, Virginia 24879 757-456-5126 804-258-4587 [pic] OBJECTIVE A management internship. EDUCATION Old Dominion University, Norfolk, Virginia Bachelor of Science in Business Administration May 2015 Major: Management Minor: Psychology GPA: 3.4, Junior Class Standing Tidewater Community College, Virginia Beach, Virginia Associates of Science in Business Administration May 2013 GPA: 3.7 Relevant Courses: Managerial Accounting, Taxation, Principles of Insurance, Business Law, Finance, Accounting Information Systems EXPERIENCE Jones, Smith, and Chang, Chesapeake Virginia Management Intern July 2012-Present • Prepared weekly reports for consultants • Trained 30 new employees on the School Net benchmarking system • Assisted senior manager with orientation presentations First Baptist...
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...Ventker & Warman, PLLC 101 West Main Street Suite 810 Norfolk, VA 23510 ATTN: Daniel R. Warman WTC FINANCIALASSOCIATES, LLC 101 WEST MAIN ST., SUITE 180 NORFOLK VA 23510 Fernando Galindo, Clerk United States District Court For the Eastern District of Virginia U.S. Courthouse 600 Granby Street Norfolk, VA 23510 Document Technologies, Inc. 101 West Main Street Suite 3500 Norfolk, VA 23510 Document Technologies, Inc. P.O. Box 933440 Atlanta, GA 31193-3440 Zahn Court Reporting, Ltd. 208 East Plume Street Suite 306 Norfolk, VA 23510 Shelton Advertising 1060 Laskin Road Suite 21-B Virginia Beach, VA 23451 Hon. Tina E. Sinnen Clerk of Court Virginia Beach Circuit Court 2425 Nimmo Parkway Virginia Beach, VA 23456 Lawyer’s Staffing, Inc. P.O. Box 11194 Richmond, VA 23230 Mark Wilkinson, Accountant Malvin Riggins & Company, P.C 733 Thimble Shoals Blvd. Suite 170 Newport News, Virginia 23606 mwilkinson@malvinriggins.com McAllister Towing of New York LLC 17 Battery Place New York, NY 10004 ATTN: Laura Moore McAllister Towing of Virginia, Inc. 914A Pearl Street Norfolk, VA 23523 ATTN: Elliot Westall Treasurer, City of Norfolk Division of Parking Attn: Monthly Parking 222 East Main Street Norfolk, VA 23510 WTC Financial Associates, LLC P.O. Box 405538 Atlanta, GA 30384-5538 Deborah A. Ellington, Clerk Chesapeake General District Court 307 Albemarle Drive Civic Center Chesapeake, VA 23322 ...
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...Statutory declaration by a supporting witness relating to a partner visa application Form 888 Important – Please read this information carefully before completing this statutory declaration. Once you have completed this declaration we strongly advise that you keep a copy for your records. When assessing a Partner class visa application the Department of Immigration and Citizenship (the department) is required to consider the social aspects of the claimed relationship. Statements from persons who know you and your sponsor may be provided to support your claims. The department’s policy is that these statements be provided in the form of statutory declarations. This form is for this purpose. It is also the department’s policy that the person completing this statutory declaration form: • know both the Partner class visa applicant and their sponsor and the history of their relationship; • be aged 18 years or over; and • be an Australian citizen or Australian permanent resident. Evidence of the person’s Australian citizenship or Australian permanent resident status must be attached to this form (for example, a certified copy of the birth certificate, Australian passport or passport containing a permanent visa). Such evidence must show the current name of the person making the declaration. A person completing this declaration may be required to submit up to 3 separate declarations during the processing of the application to remain permanently in Australia. They may be contacted...
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