01.27.16

Manchin, Capito and Congressmen Send Letter Opposing Norfolk Southern Merger

CHARLESTON, W.Va. — U.S. Sens. Joe Manchin and Shelley Moore Capito, along with Congressmen Evan Jenkins and David McKinley sent a letter Wednesday opposing Canadian Pacific Railway’s plan to acquire Norfolk Southern.

The letter was sent to U.S. Surface Transportation Board Chairman David Elliot, Vice Chairman Ann Begeman, and board member Debra Miller, detailing the potentially devastating impact the merger would have on West Virginia’s economy and urging the board to carefully review the details of the merger.

“The State of West Virginia has invested millions in public-private partnerships with Norfolk Southern because we believe in building things and investing in our people. Since Hunter Harrison took over in 2012, Canadian Pacific has slashed 6,000 jobs, and they have identified $1.8 billion in additional profits that they will wring out of the combined company,” the letter said. “West Virginia cannot afford a corporate partner more focused on short-term gains for stockholders than the hard-working men and women who show up to work every day.”

Manchin held a press conference in Charleston Tuesday to announce he was calling for a Senate investigation into the proposed merge.


By:  MetroNews Staff
Source: Metro News