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Article: Charles Wickliffe Moorman IV set to head Norfolk Southern Corp.
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- December 5, 2004
CopyrightCOPYRIGHT 2004 The Virginian-Pilot. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Christopher Dinsmore
Dec. 5--NORFOLK, Va. -- Running a business that cost your company $84 million might seem like the kiss of death for an executive. But not at Norfolk Southern Corp.
Last December, the Norfolk-based railroad wrote off much of the value of its telecommunications subsidiary. Known as T-Cubed, the unit had developed fiber optic lines along the railroad's routes. But the entire telecom industry spent too much too fast, and many projects, including Norfolk Southern's, lay unused and lost money.
Nine months after the write-off, Norfolk Southern's board selected T-Cubed's president, Charles Wickliffe Moorman IV, also known ...