Because I was curious: Norfolk Southern Railway had an operating revenue of $12.2 billion in 2023 and $12.7 billion in 2022. And operating expenses of $9.3 billion for 2023 (which includes the...
Because I was curious:
Norfolk Southern Railway had an operating revenue of $12.2 billion in 2023 and $12.7 billion in 2022.
And operating expenses of $9.3 billion for 2023 (which includes the $1.1 billion mentioned in the article associated with the 'Eastern Ohio Incident') and $7.9 billion for 2022.
So profits of $2.9 billion and $4.8 billion in the last two years, not including this $600M.
Absolute joke. Just cost of doing business it seems.
Adding some more in case your blood wasn't boiled enough:
"Norfolk Southern President and Chief Executive Officer Alan H. Shaw said, '...Norfolk Southern enters 2024 with positive momentum and a focus on driving further productivity gains and operational discipline through aggressive cost management. We see growth on the horizon, and we are confident in our ability to deliver industry-competitive margins over time'
Not even massive environmental and humanitarian crises can derail (sorry) the unwavering pursuit of profits.
From his Wikipedia page: "On February 22, 2023, he appeared at a town hall on CNN hosted by Jake Tapper. In the town hall, he apologized to East Palestine residents, saying, "I'm terribly sorry for what has happened to your community." He added, "I want you to know that Norfolk Southern is here, and we're going to stay here. And we're going to make this right."[15]
Shaw’s compensation in 2023 increased by 37%, even though the railroad was in a costly and environmentally disruptive derailment.[opinion] His total pay grew from $9.8 million (US) in 2022 to $13.4 million (US) in 2023, with base improving to $1.1 million and stock options rising from $2.2 million to $10 million.[16]"
Textbook weasel shit right there. "What has happened to your community," not "what we did to your community." It's as though a meteor came down and dumped a bunch of poison in their town. It's the...
In the town hall, he apologized to East Palestine residents, saying, "I'm terribly sorry for what has happened to your community."
Textbook weasel shit right there. "What has happened to your community," not "what we did to your community." It's as though a meteor came down and dumped a bunch of poison in their town.
It's the same sort of garbage construction that gutless editors use when police shoot and kill somebody: "the suspect was shot and killed," not "police shot and killed the suspect."
Specifically, that's $600M to cover all claims from anyone living within 20 miles of the derailment, or more than 20,000 people. Not all of them are going to be affected by the aftermath of the...
Specifically, that's $600M to cover all claims from anyone living within 20 miles of the derailment, or more than 20,000 people. Not all of them are going to be affected by the aftermath of the crash, but if even a quarter of them have long term health affects from this, that's only $120k apiece, or maybe two to four year's expenses. For something that could cause problems for the rest of their natural lives this is profoundly too low a number.
Because I was curious:
Norfolk Southern Railway had an operating revenue of $12.2 billion in 2023 and $12.7 billion in 2022.
And operating expenses of $9.3 billion for 2023 (which includes the $1.1 billion mentioned in the article associated with the 'Eastern Ohio Incident') and $7.9 billion for 2022.
So profits of $2.9 billion and $4.8 billion in the last two years, not including this $600M.
Source
Absolute joke. Just cost of doing business it seems.
Adding some more in case your blood wasn't boiled enough:
"Norfolk Southern President and Chief Executive Officer Alan H. Shaw said, '...Norfolk Southern enters 2024 with positive momentum and a focus on driving further productivity gains and operational discipline through aggressive cost management. We see growth on the horizon, and we are confident in our ability to deliver industry-competitive margins over time'
Not even massive environmental and humanitarian crises can derail (sorry) the unwavering pursuit of profits.
From his Wikipedia page: "On February 22, 2023, he appeared at a town hall on CNN hosted by Jake Tapper. In the town hall, he apologized to East Palestine residents, saying, "I'm terribly sorry for what has happened to your community." He added, "I want you to know that Norfolk Southern is here, and we're going to stay here. And we're going to make this right."[15]
Shaw’s compensation in 2023 increased by 37%, even though the railroad was in a costly and environmentally disruptive derailment.[opinion] His total pay grew from $9.8 million (US) in 2022 to $13.4 million (US) in 2023, with base improving to $1.1 million and stock options rising from $2.2 million to $10 million.[16]"
Textbook weasel shit right there. "What has happened to your community," not "what we did to your community." It's as though a meteor came down and dumped a bunch of poison in their town.
It's the same sort of garbage construction that gutless editors use when police shoot and kill somebody: "the suspect was shot and killed," not "police shot and killed the suspect."
Such transparent bullshit.
Specifically, that's $600M to cover all claims from anyone living within 20 miles of the derailment, or more than 20,000 people. Not all of them are going to be affected by the aftermath of the crash, but if even a quarter of them have long term health affects from this, that's only $120k apiece, or maybe two to four year's expenses. For something that could cause problems for the rest of their natural lives this is profoundly too low a number.
If you live closer than ten miles, you can get additional compensation.
I'm not saying it's great at all.