Norfolk Southern CEO Alan Shaw pledged Tuesday the freight railroad will spend $6.5 million to help those affected by the release of toxic chemicals from its derailment nearly three weeks ago in East Palestine, Ohio. But in a plan released earlier this year, the company said it’s planning to spend more than a thousand times that amount — $7.5 billion — to repurchase its own shares in order to benefit its shareholders. The company spent $3.4 billion on share repurchases last year, and $3.
One rule the industry successfully fought would have required a more modern braking system on trains carrying significant amounts of hazardous materials. The Federal Railroad Administration, which proposed the rule under the Obama administration, estimated a more modern braking system would reduce by nearly 20% the number of rail cars in a derailment that puncture and release their contents.
The shareholders of Norfolk Southern can thank Trump for making them, 'richer.'
No company is to big to fail. You have bad business practices...goodbye, you failed. That's the beauty of capitalism. Goodbye Norfolk, time to let Union Pacific take over.
Terrible article. Do you people even try anymore. How is a stock buyback in any way shape or form related to derailment compensation.
The other Pete lives in Miami
Meanwhile, POTUS and WhiteHouse commit to us paying Ukrainian government pensions! Why hasn't he visited OH?
How do people sell or have their stories bought by Hollywood film producers? 'Usually a screenwriter or a producer comes to you and asks for the rights to the story. It's not really something that people go out and shop around, trying to capture interested parties. --1
Does this comparison make any sense? The shareholders Invested millions and millions. I am sure the shareholders would take $6.5 million each. GM sells their cars for thousands but the company makes billions. Are you saying they should ask billions for cars? Silly article
how much you shelled out to your shareholders CNN while you supported each and every war since you inception?
It’s a good investment. Thank you NS!!!
I mean to put things into perspective as a $NSC shareholder I’d have to have 888 shares invested which equals $197,358.00 in order to receive the same amount the company is giving the victims each as a dividend
And you guys tried to cover for them with days upon days of no coverage when it happened
Exactly
Way to compare apples to oranges. Never stop being the PR arm of this administration.
That is a dumb statement!