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On a quarterly earnings call Wednesday, CEO Alan Shaw repeated earlier statements that the railroad intends to make things right for East Palestine and nearby communities affected by the derailment. He said despite that incident and a series ofother derailmentsby its trains in the quarter, derailments were actually down compared to the first quarter of 2022.
“We are a safe railroad,” he told analysts. “We strive to do better. We are going to learn from this accident to become an even safer company.”
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One month later, people living near a toxic train derailment wonder if their lives will ever be back on track
What factors are pushing Syrma SGS Technology Limited (543573) up ✌️【Fund Management】✌️ Free access to global stock market data, with real-time updates on indices, futures, and commodities. Make informed investment decisions with the help of expert advisors and accurate stock trend predictions. The track is on a major route for the railroad, carrying freight between Chicago and the eastern United States. But neither he nor the railroad’s financial report gave details about the continuing costs of that slowdown, and whether or not that is included in the $387 million cost estimate.
What factors are pushing Syrma SGS Technology Limited (543573) up ✌️【Fund Management】✌️ Accurate stock market predictions with real-time stock indices, futures data, and global market trend analysis. Achieve stable growth and avoid losses by staying ahead with our expert recommendations. The $387 million is an estimate on both money spent so far as well as future costs. The money spent so far comes to $55 million, according to CFO Mark George. The cost does not assume any recovery from insurance. The company had previously said it has about$1.1 billion in coverage, although how much will be paid by insurers has yet to be determined.
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During aSenate hearing in Marchon the derailment, Sen. Jeff Merkley of Oregon asked Shaw, “Will you pledge to no more stock buybacks until a raft of safety measures have been completed to reduce the risk of derailments and crashes in the future?”
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