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Article: NORFOLK SOUTHERN INVADING CONRAIL'S TURF: NORTHEAST.(BUSINESS)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- May 31, 1996
- Author:
CopyrightCOPYRIGHT 1996 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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: DANIEL MACHALABA, DOW JONES NEWS SERVICE
Norfolk Southern Corp. is invading the Northeast heartland of competitor Conrail Inc. in a move that threatens to put price and earnings pressure on Conrail.
The action - which began earlier this month when Norfolk Southern extended its container-shipping service into northeastern Pennsylvania - comes after months of rumors that Norfolk-based Norfolk Southern wanted to acquire Conrail in a friendly transaction. But such speculation dimmed recently with Conrail reiterating its desire to remain independent and Norfolk Southern apparently looking elsewhere.
Norfolk Southern said it is considering ...