Norfolk Southern: hiring back nearly all employees furloughed during the recession..

[DCBob]

NEW YORK (AP) -- Railroad Norfolk Southern Corp. said Tuesday that second-quarter earnings surged 59 percent, as shipments increased, prices rose and efficiency improved in the recovering economy.

In another positive sign, the company said it's brought back nearly all the employees furloughed during the recession. It's also hiring some employees in areas where business is best. It still has about 8,000 rail cars in storage, compared with about 35,000 at the peak of the recession. "Looking ahead, while we share the common concerns about the ongoing strength of the recovery, our traffic levels remain strong," CEO Wick Moorman said.

Norfolk Southern expects shipping volume improvements to remain steady throughout the year. Shipments jumped 22 percent in the second quarter, for a fourth straight quarter of volume growth.

more: http://finance.yahoo.com/news/Norfolk-Southern-2Q-profit-apf-2382872272.html?x=0&sec=topStories&pos=3&asset=&ccode=

More signs the economy is improving. I suspect there will more stories like this coming in the weeks and months ahead despite all the naysayers on the right and pessimists on the left.

[bobw999]

1. Compared to the other big railroad in the east (CSX),

I always hear Norfolk Southern treats there employees and maintains railroad track better. Its good to see that traffic is up again. There are a lot of small short line railroads struggling because of the recession.

[DCBob]

2. I would assume an uptick in railroad traffic is a good indicator of an improving economy overall..

Lets hope this trend continues.

[Deb]

3. thanks for posting this good news

We have a friend who works for them. As an anecdotal, we've noticed increased tractor trailer traffic on NY trucking routes and hoped this was a sign of recovery as well.

[DCBob]

4. I think so. Fed Ex also reporting increased business..

Sounds like a recovery to me. But then again some "experts" say we are in the "midst of a depression" so maybe we shouldn't be so optimistic... or perhaps some "experts" are wrong.

[TheCowsCameHome]

5. That's always good news.

Railroads were kind of strange, in that they usually laid off too many people when things got bad, and didn't take into consideration retirements, resignations, and stuff like that.

Anyway, it's good to hear more people will be going back to work.

[Scurrilous]

6. Good news.

K & R :thumbsup:

[LostInAnomie]

7. As a Norfolk Southern employee that was called back to work...

... I can safely say that it feels good to be back to work. Our district's car counts are way up over where they were last year and the year before.

[DCBob]

8. Congrats!

:toast:

[LostInAnomie]

9. I was furloughed for 14 months and couldn't get state or railroad unemployment.

I can't think of any time in my life that I've been so overjoyed to get called to work at 2:00am.