Remember the February train wreck in Ohio? The one that caused people to move from their houses. The one that killed countless wildlife. The one that created havoc on hundreds of people. Norfolk Southern, (owners) said that the February derailment which spilled toxic chemicals into a small Ohio town - would likely cost the company $387M or about 12% of its profit last year. The price tag includes $31M pledged to help local residents recover. So far Norfolk said it's spent $55M removing contaminated water. The Transportation Board has launched a special investigation into Norfolk's general safety practices. From 2013 to 2022, Norfolk's accident rate spiked more than 80% - nearly 3X the industry average. The Ohio disaster has led to greater scrutiny of the rail industry's safety practices. Good thing.
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