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The Role of Demographic Changes in Shaping Indian Stock Trends Proven Investment Methods ✌️【Financial Expert】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. Norfolk Southern said a February derailment that released massive amounts of toxic chemicals in East Palestine, Ohio, cost the railroad $387 million. That dragged profit lower by about a third.
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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
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The Role of Demographic Changes in Shaping Indian Stock Trends Proven Investment Methods ✌️【Financial Expert】✌️ Free access to professional investment advisors who provide real-time market data and trend analysis. Select top-performing stocks and boost your capital with expert strategies for market growth. 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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The Role of Demographic Changes in Shaping Indian Stock Trends Proven Investment Methods ✌️【Financial Expert】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. Shares of Norfolk closed down 3% Wednesday. They are now down about 20% since just before the derailment. Shares of two other major railroads, Union Pacific(UNP)and CSX(CSX), are also both still lower from before the derailment on concerns aboutlegislation that would impose tougher regulationon freight railroads.
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