On August 15, Norfolk Southern President and CEO Alan Shaw joined Jim Cramer of CNBC’s Mad Money. Among many topics, Shaw and Cramer discussed Norfolk Southern’s long-term strategy, strategic franchise footprint, and how the rail network is poised to serve the fastest growing segments of the US economy.

Please see the following key excerpts from Shaw during the interview.

Investing over the long term

“We’re investing in the long-term success of [Norfolk Southern]. We’re investing in locomotives, we’re investing in service, we’re investing in Intermodal infrastructure, and we’re investing in technology. Because we’re really targeting the $860 billion truck and logistics market. It is a great opportunity for us, and we’re going to unlock that growth opportunity on Norfolk Southern.”

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“Our strategy is built on where markets are headed, and it is designed to win tomorrow.”

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“We’re investing in the long term, because we’ve got confidence in our franchise, the US economy, and the US consumer.”

Strategically located to ensure success

“Take a look at onshoring, right? There is a massive investment in manufacturing in the United States. Right now, investment in manufacturing is up 75 percent year over year, and new factory builds are running three times what they were between 2010 to 2020. And they’re happening in our service region – in the Southeast and in the Midwest. That gives us a lot of confidence moving forward. We’ve got a growth franchise, Jim, that faces the fastest growing segments of the US economy.”

Service as an enduring competitive advantage

“We had promised to restore service… we’ve done it…  we’re on trajectory right now, and I’m very confident in that. And, frankly, what that gives us is a foundation to go talk to our customers about building Norfolk Southern into their long-term supply chain needs. We will use service as an enduring competitive advantage for Norfolk Southern.”

A manufacturing renaissance, rise in EV production

“Man, what a massive opportunity for us. Let’s just talk about EV. There’s been $70 billion in announced electronic vehicle investment in North America. Jim, about a third of that is on our lines, and we already serve more than 50 percent of US light vehicle productions. So, this is a great opportunity, because of our desirable geographic footprint of operating in the Southeast and the Midwest.”