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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts

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To: Joe Copia who wrote (16453)	6/10/1999 10:43:00 PM
From: Dwayne Hines	Read Replies (3) of 25711

NYRR noted in Norfolk Southern VP's speech to Merrill Lynch yesterday: Remarks by: Henry C. Wolf Vice Chairman and Chief Financial Officer Norfolk Southern Corporation Before the: Merrill Lynch Global Transportation Conference June 9, 1999 New York, New York Good afternoon. It's a pleasure to join you today, and, on behalf of Norfolk Southern,I'd like to thank Mike Lloyd and the entire Merrill Lynch team for inviting us to participate in this conference. I'm sure I don't have to remind anyone here that last week marked the beginning of a new era in transportation as Norfolk Southern began operations of its portion of Conrail in the Northeast. After two and a half years, over four million hours of preparation and more than $6 billion, I can now say, "Welcome to the new Norfolk Southern." By any measure, this is a time of many "firsts" for our industry. Rail competition has been restored to the Northeast for the first time in two decades. Shippers have access for the first time to rail equivalents to Northeast-Southeast highway traffic routes. And Norfolk Southern now has a competitive presence in all major ports and markets east of the Mississippi River, linking customers to the world's economy. In fact, for the first time, I can stand before you today and tell you that we are in our service region - a region east of the Hudson that the New York Harbor Rail/Barge (NYRR) helps us reach. June 1st marked the culmination of the most intensive planning process for the most complex transaction in rail history. The consolidation of two companies in a merger is always complicated, but dividing one company between two competitors, and increasing both the size of the Norfolk Southern system and workforce by nearly 50 percent has been even more challenging. Full text at: nscorp.com

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