Including me. Been hurt twice by this POS. Last time was when I bought in the $50s this spring basically because of INSIDER PURCHASES direct from the market. Figured they had to know "good times coming"
Buying on insider purchases alone is silly and well moronic as you stated. What you missed is management looks to a 5 to 10 year plan. They are indeed executing and todays agreement is one more step toward the reorganization.
NS is dead meat. There cost of capital is so enormous they cannot issue shares and do accretive deals. So they have to go down on the debt/equity quality and issue higher cost equity. NS is a screwed up MLP. There only chance is to be acquired so their cost of debt and equity can be reduced closer to the peer group. But the deal will not be at any premium and the acquirer's shareholders will benefit far more from what would have to amount to a highly accretive acquisition.