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NS shareholders re-elect four directors, appoint auditor


During Norfolk Southern Corp.'s 26th annual stockholders meeting held yesterday in Norfolk, Va., shareholders re-elected Gerald Baliles, Gene Carter, Karen Horn and retired Navy Adm. J. Paul Reason as board members.

Baliles is director of the Miller Center of Public Affairs at the University of Virginia; Carter is executive director and chief executive officer of the Association for Supervision and Curriculum Development; Horn is a partner with Brock Capital Group, former president of the Federal Reserve Bank of Cleveland, and former chairman and CEO of Bank One Cleveland, N.A.; and Reason is a member of the Naval Studies Board of the National Academy of Sciences and former commander in chief of the U.S. Atlantic Fleet.

In addition, stockholders ratified the appointment of KPMG L.L.P. as the Class I's auditors.

Also during the meeting, NS Chairman, President and CEO Wick Moorman told stockholders the railroad is registering solid financial and operating performance in spite of soft housing and automotive markets.

"Our results speak volumes for something that we talk about all the time — the strength of our balanced portfolio of business," he said. "Our agricultural business and anything having to do with commodities are very strong, along with coal, steel [and] metals. At the same time, we are seeing the ongoing effects of slowdowns in housing-related and automotive-related transportation business."