THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, November 15, 1995 TAG: 9511150269
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 23 lines
Norfolk Southern Corp. said Tuesday that it will take a $20 million, 16-cents-a-share charge against its fourth quarter earnings to pay for its recent early retirement program. The program, announced in September and accepted by 272 of 475 eligible employees, is expected to save the Norfolk-based railroad $16 million in 1996. Norfolk Southern, which earned $1.31. per share in 1994's fourth quarter, is expected to earn $1.45 a share in this quarter, based on a survey of 11 analysts by Zacks Investment Research. Norfolk Southern's stock slipped $ 7/8 to $76 3/4 a share in Tuesday trading on the New York Stock Exchange. (Staff) by CNB