NSCorp.com official website of transportation company- Norfolk southern
Norfolk Southern
Norfolk Southern Corporation is based in Norfolk, VA. It controls Norfolk Southern Railway Company, a major freight railroad. It has its business spread over a large area connecting customers and markets everywhere. Total length of the railroad under its control is 21,000 miles in 22 eastern states. It connects major eastern ports and rail partners in other places where it does not have its lines. Norfolk Southern Corporation provides the most comprehensive logistic services and network for businesses
Services
Norfolk Southern Corporation (NS) controls a railroad and so it is primarily engaged in freight transportation. It transports raw materials, finished good s and even intermediate products. It operates in east, southeast and Midwest areas, other parts of US and also in Canada. It has a good network of transport system to the ports like Gulf Coast ports and Atlantic ports. Norfolk Southern has some good links with other carriers who carry freight for them when needed. Norfolk Southern offers logistic services to different types of businesses. Many businesses depend on it for proper functioning of their supply chain.
Norfolk Southern has other subsidiaries that are not into freight transport. Subsidiaries work in acquisition, management and leasing of property or product. They are into coal, gas, oil, and mineral businesses. They are into leasing and sale of rail property and equipments. Subsidiaries are also into commercial property development business.
History
It took more than 150 years to build Norfolk Southern Corporation. Almost 200 railroad mergers have resulted in this huge corporation. It was started in 1838 with only nine mile line. The company’s first line was from Petersburg, Va., to City Point, Va., NW.
A Virginia Military Institute engineering graduate William Mahone built the initial lines. He became the president of the company later prior to the civil war. After the civil war, N&P, Southside Railroad and the Virginia & Tennessee Railroad came together and formed the Atlantic, Mississippi & Ohio Railroad. This new line was available from Norfolk to Bristol. This company was later purchased by E.W. Clark and Co., a private banking firm in 1881.
The new firm was consolidated with the Shenandoah Valley Railroad. Frederick J. Kimball was the main man in giving it direction. As the junction between the Shenandoah and NW, a small village named as Roanoke in Virginia was used. The company also designed, built and maintained A, J and Y6 locomotives. Thee locomotives built by the company were very popular because of their good stream engines.
Kimball helped the company to spread its business to West Virginia, Columbus, Cincinnati, Ohio, Durham and other places. It helped coal fields, steel mills and power plant to grow and progress. The company was strong enough and it sailed through the world wars and depression.
Mergers helped the company to make progress. In 1959, merger of Virginian Railway with NW took place. Next follows mergers of Pittsburgh & West Virginia; Wabash; Akron, Nickel Plate; Canton and Youngstown railways into the Norfolk Southern.
Financials
For year 2006:
- Railway operating revenues $9,407
- Net income $1,481
- Total assets $26,028
- Total debt $6,600
- Stockholders’ equity $9,615
- Debt to total capitalization ratio 40.7%
- Stockholders’ equity per share $24.19
