THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, February 24, 1996 TAG: 9602240313
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY CHRISTOPHER DINSMORE, STAFF WRITER
LENGTH: Short : 44 lines
When you think of the best companies in their industries certain names jump to mind: J.P. Morgan & Co. in banking, Boeing Corp. in aerospace, Levi Strauss Associates in apparel and Wal-Mart Stores Inc. in retailing.
Well Norfolk's own Norfolk Southern Corp. now ranks as No. 1, as well.
In its March 4 issue, now on newsstands, Fortune magazine reports that Norfolk Southern is the nation's best railroad in the eyes of its competitors.
The business magazine surveyed executives and directors at Fortune 500 companies across the country for its cover story ``America's Most Admired Companies.''
Fortune's rankings are based on eight business attributes. All 417 firms were measured against each other and against just the companies in their respective industry.
In the ranking of all companies, led by Coca-Cola Co. and Proctor & Gamble Co., Norfolk Southern came in 50th.
But against fellow railroads, Norfolk Southern scored first, edging out last year's winner, Union Pacific Corp. Richmond-based CSX Corp. came in third.
``We are proud of our performance, and the people of Norfolk Southern deserve this recognition,'' said David Goode, the railroad's chairman and chief executive. ``We know, however, that we can never rest on our laurels.''
Norfolk Southern is the nation's fourth-largest railroad with a 14,500-mile network in 20 Southeastern and Midwestern states and Ontario. It employs about 23,500 workers, including about 1,500 in Hampton Roads.
Their executive peers were asked to rank companies based on their quality of management; quality of products or services; ability to attract, develop and keep talented people; value as a long-term investment; use of corporate assets; financial soundness; innovativeness; and community and environmental responsibility. by CNB