Norfolk Southern has erased $5 billion in market value since the Ohio train derailment spilled toxic chemicals into East Palesti...
"We believe the potential cost for the East Palestine derailment could be between $30 million to $50 million," JPMorgan said.
Nah, it'll come back. Trains gotta move.
Sure,
trains gotta move.
But that doesn't mean Norfolk Southern's stock holders won't lose, and big time.
Always diversity your portfolio if you can.
Its starting to come out that its possible that diversity hires with no rail experience are the issue here. Particularly some female poc. There was a sticky about it last night iirc.
Has that come out, like actually? To date I just assumed it was a convenient talking point for "our" side.
From what was linked the female poc mentioned were not involved as far as we know in this accident but it showed that three diversity hires did cause accidents for the railway. So until we know for sure who was running the train this is a very real possibility.
The issue is not the derailment, but how the company chose to dispose of the chemicals instead of safely cleaning it up.
Always keep in mind they don't do that on their own, it's a decision made with the EPA and other agencies. However it was odd that I believe it was the governor of Ohio said they had consulted the DoD in one press conference I saw live.
Luggage tranny
Ans if the rail cada exploded you would be saying they should have done a controlled burn.
Lose lose situations.
I had seen one post claiming antifa was distributing information on how to derail a train. No idea if true was just a post I read offering no proof or source.
While that is a good point, and there is zero doubt that the RR's engage in diversity hiring, you do not need any formal training to get on as Train Crew. There is a school around Kansas City that RR's will recruit from for crews but the vast majority is people come off of the street with HS diploma's or transfer to Transportation, to me it doesn't seem as egregious as the DEI Cults 'race before qualifications' theory. Essentially, a majority Train Crew hires come from people with no RR experience. Actually, and I can speak from experience, they prefer blank slates to mold over people with experience who have habits already formed. Honestly, the RR's hire a shit ton of conductors are hired with the intention of furloughing them or forcing them to bid to a territory where bodies are needed. Anyone in this line of work knows that new conductors will likely, not always, be furloughed many times until they build up enough seniority to hold positions in specific locations, this weeds out a lot of people and keeps a revolving door for hiring.
The point is that the only real issues that have been found with safety violations and poor management are tied up with those three diversity hires. Hiring an honest low educated person of any color off the streets who are willing to learn and put in hard work is fine. Hiring in diversity crew that from the start KNOW they will never get called out for any poor performance and so don't give a flying fuck about properly doing their job is what is wrecking many corporations and industries because once you allow them in its the devils own curse to get them out even if they are horrifically bad at their job. I'm sure there are many female poc who could do the job but they are not the ones getting hired.
What sucks about this whole diversity in the workplace situation is that companies cannot insulate them from litigation risks. By hiring people from diverse backgrounds, they potentially expose themselves to workplace discrimination suits. If they decide to only hire White people to avoid workplace discrimination suits, they’re exposing themselves to hiring discrimination suits.
🤡🌍 employment ethics. Govt. is broken because Mega Billionaire Jewish lobby groups like Blackrock, Vanguard corrupted them.
Because the commies were smart and the very first places they infiltrated in the various corps was the legal department and the human relations department. With those firmly in their control they can effectively hire in all the blue haired screamers to blackmail the corp into doing whatever they want or face internal legal attacks with the support of the government agencies and internal employee revolts. Corporate officers HATE lawsuits especially when legions of blue haired screamers can be summoned to harass the corp both in person via violent protests and online by brigading the corps social media. They just threw up their hands and gave up.
I bought some energy fund last year. Doin not bad not bad
Dont worry these are pennies to them. They have an unlimited money supply from the the kyke reserve, i mean federal
could always sell their company to CCP heard the u.s. selling of its country might as well sell to our enemies aka democrats BFF everything before they fulling take fully and call it united states of CCP consider its president prefer ukraine over ohi
Biden could get on board with that for the right brokerage fee. Last i heard it was around 10% but now he's pResident it may have gone up.
Vanguard and Blackrock will just consolidate more power and buy more family farms. Nothing to see here.
I can see potentially massive class action lawsuits. At something like 100,000 gallons of burning vinyl chloride, the dioxin production could have been massive.
I'd love to own a testing laboratory right about now. ( but sadly I don't.)
Buy family farm drenched in DIOXIN…ok
Ok cool, but they're still never going to be held accountable.
Blackrock and Vanguard laugh in trillions
the axel was burning for miles before it finally seized and caused the derailment.....but sensors should have alerted the crew and or the dispatcher......someone or something fucked up bigly
It did alert the crew, rumor is the were told to drive on… cause they had a schedule to keep.
wow didn't know that
If true, the entire crew needs to be fired, blacklisted and whoever ordered them to ignore should be publicly executed.
Firing never gonna happen, I am finding myself interested in CCP justice in this case regarding public executions…
Dioxin?
Ahh as someone from Missouri I understand this reference!
Times Beach Super Fund cleanup:
( https://19january2021snapshot.epa.gov/mo/town-flood-and-superfund-looking-back-times-beach-disaster-nearly-40-years-later_.html )
If you think the train crash was bad, wait until you see what Biden and the deep state wants to do to our supply chain system.
Why would they sue Norfolk Southern? I have it on good authority that Trump himself derailed that train and then ordered the EPA to set the chemicals on fire. And then to follow up he walked around the town and exposed his genitals children in school yards while laughing his ass off.
Fines don't hurt the correct people. There needs to be a fundamental re-think of "Punishing Megacorps" - because it's simply not the same thing as punishing a small company.
The core is: They're always actually considered "Too Big To Fail". And that directly leads to the fines being smaller than they might need to be to (A) make the injured party whole, or (B) impact the actual decisionmakers.
I have a pet Amendment/Bankruptcy Law line of thinking that could be applied in precisely this case - but I did not reword the whole thing specifically for this case. So, here's a frame for both how to deal with a company that's either bankrupt, and TooBigToFail, or an excessive capital punishment level of criminal.
I propose a new class of bankruptcy for megacorps - also a "Corporate Death Penalty"
-Now- Decide how to bail the companies out.
Too Big to Fail
If one accepts the notion that a fundamental duty of the government is to level the playing field as much as possible, the entire concept of bailing out large, politically connected companies and executives with tax money is quite galling. The key piece in my mind about the phrase “too big to fail” is the start - too big. How can one get large companies to steer less risky paths and generally avoid the failures of corporations that are too big in the first place? And also make it quite certain that not one of the upper echelon is rewarded or personally bailed out?
The idea that a monopoly is generally a bad idea is well understood. And the anti-trust legislation exists with the nominal goal of disfavoring and restricting monopolies. But the problems of monopoly pressure extend beyond true monopolies into any market that has a constricted list of competitors. Ten roughly equal corporations are quite a bit more competitive than five, particularly if one or two of the five are dominant. Think Coke and Pepsi.
How about a new standard chapter in bankruptcy just for the megacorps? The company is too big, so the first order of business is resizing it. First, the entire executive level can go. They have contracts - but bankruptcy Judges have the power to annul contracts. The executives are the ones steering the ship into the shoals, they don’t need to be rewarded in any fashion. Another set of contracts that merits evaluation is the “golden parachutes” of anyone employed at the executive level in the past five years.
Second, slice it into five roughly equal portions. This might be along divisional lines, or product lines, or a brute-force Solomonesque division of everything. Appoint not one Executor for the bankruptcy, but one for each slice, and then let them swap factories, stores or products. Offer the Executors long-term bonds based on the future earnings of their slice to reduce the incentive to collude to the disintrest of their slice.
Now you’ve removed the people that caused the problem, none of the people requesting help are rewarded financially, and you’ve resized the companies. Only now can one consider adding funds to prop up the individual slices in the short term.
One reason a company might really be “too big to fail” is because the company employs a large number of workers. With the company split up, there’s a good chance that a couple of slices will be bought out immediately. When you’re the old AT&T there are a lot fewer companies that can afford a hostile takeover compared to when you get sliced into the Baby Bells. The slices are going to be more nimble, they should be easier to understand and require less executive heft to guide.
This new chapter in bankruptcy law might seem quite harsh if sprung on an unsuspecting company that finds itself in this type of situation. Lehman Brothers, AIG, GM, Chrysler - none would have been happy to run into this buzzsaw. But if one gets this chapter of bankruptcy law onto the books, then you’re going to get a contervailing pressure to oppose the “high risk, high rewards” approach of some the most out-of-control companies. All without extensive new regulations, or an entire new layer of oversight. Oversight and regulation have the unending issues of having smart people trying to wiggle out of them while having lobbyists simultaneously intentionally obfuscating every little change in the details of various laws.
XX In a regular bankruptcy, the Judge can annul contracts. There’s no good reason this isn’t applied to every golden parachute contract from any executive employed at the company within the last five years.
XX Another key reason a company might be too big to fail is if the company provides some essential product whose disappearance would be enormously destabilizing. That can be economically destabilizing, or it can mean militarily destabilizing
Back to the "Corporate Death Penalty" aspect: presume that the corporate officers, board ... the entire executive and legal tier of the company is "Working Together" for purposes of firing off RICO-style investigations. You know the company is guilty of XYZ already by this point. But I want the effing corporate veil pierced and the individual actors falling all over themselves to rat out other members of this Executive Tier instead of the usual company investigation where every single person lawyers up and says "I did nothing/I saw nothing/I heard nothing".
they have names and addresses and live among us and almost always in reach of some studied trajectories
https://whitepages.com
Yes. But pinning corporate crimes on individual executives is extremely difficult through the legal system.
That very difficulty give the executive tier, every executive tier, some disconnection to the consequences of their actions. They don't think they can be touched even through extra-legal means.
But if you wedge a route to punish the actors involved much earlier in the creep of business inevitably going too far, you're putting the executives personal interests into their thinking.
addresses are almost always public information.. and when the corrupt judicial system fails the desperate they still want their pound of flesh
The only thing an address for a 0.1%-er does is give you a place to send mail.
Does the corporate type spend his actual time at house number six - that happens to be inside a walled, armed compound.
Or does he spend it at his palace in a downtown Blue Zone at the "Corporate Executive Foundation and Trust" building?
Or does he basically live on the darn plane/yacht?
And those are just the obvious ones.
Shrugs.
Their stock is still above their lowest value for the previous year.
today is the first day i have heard dioxin in reference to the ohio derailment. prior to today, all i heard was vinyl chloride.
burning shit usually makes even WORSE chemical compounds.. phosgene from chlorides is great example
yeah, i read some post about phosgene the day after they lit it on fire, but it was never really mentioned again. for the past week or so i would just read others’ opinions on whether it was safe or not, whether burning it was the only good solution or not, dead animals in the area… but for the most part they were all discussing vinyl chloride and not the product that forms from burning chloride. today i am starting to see posts on dioxin specifically and even a couple of videos on it. my mind is going back to a few of the posts here that were suggesting that this was no accident.
The railcars were on fire, uncontrolled explosions aren't good either.
When you do an uncontrolled (non-high temp. furnace) burn of this chemical it can generate potentially large amounts of dioxins.
right. i know that today. i guess i am really just commenting on how information spreads. i am no chemist, so i am ignorant on these matters. i assume most here are as well because i never really saw dioxin mentioned in comments or titles previously. i only started realizing chloride burns into dioxins after hearing some guy talk about it on today’s alex jones show. and now here i am seeing it in posts.
Anyone short their stock recently?
Norfolk Western and Southern were better as separate entities.
Blackrock and Vanguard have plenty of money to burn.
they better spill the beans on Biden admins EPA control NOW!
Perfect timing for BNSF to buy them out
I mean the whole market is down a lot today. They’ll get sued and likely pay a lot and then Norfolk will still have a very large share of a market with few competitors (UNP, CSX, and a few others)
This article was 4 days old supposedly.
they’re probably hiding cash and selling stocks, spinning up shell companies and llc’s to shield from future lawsuits. By they time the lawsuits make it to court, they could be “bankrupt”.
Is this shit still burning?
no but youll be eating it in your food soon
No.
The likely dioxin contamination has also been complete, except for maybe dioxin moved by streams and lakes throughout the chemical fallout zone.
The CEO sure lucked out. Sold most of his stock late December 2022.
https://ble-t.org/news/ns-director-james-squires-sells-5-2-million-in-company-stock/ (https://archive.is/zJGAq)
https://ble-t.org/news/ns-director-jim-squires-sells-26-2-million-in-company-stock/ (https://archive.is/aePYH)
Website above is BROTHERHOOD OF LOCOMOTIVE ENGINEERS AND TRAINMEN
The links they site for the full story are broken.
Squire was the former CEO, so he may or may not have seen this coming.
Could have just been diversifying his portfolio.
Thanks.
Unsurprisingly, the article mentions Norfolk Southern is insured. They’ll pay the deductible and the insurance company will reimburse the rest.
Wow.
Those insurance companies will take a hit then.
Plus, Norfolk Southern's insurance rates will likely increase by a large amout.
They have 500m in excess liability coverage. Its all on notice. Probably 20-30 different carriers on the tower. It will be a blip for the carriers.
depends if this is considered negligence. I am not sure an insurance company will cover a disaster like this if the root cause is negligence/poor maintenance.
Fair point, negligence could come from multiple angles too. Not just the train crew, but the dispatchers. Precision scheduled railroading has caused a lot of operational pressure to operate longer trains and keep them on schedule. I've heard of folks getting chewed out if a train leaves 15 minutes late (and imagine the frustration that'd result from an emergency stop that consumes even more time).
Unfortunately all of those people will be very dead by the time the judgement comes out
Some, for sure.
Blackrock, Vanguard and State Street will swoop in and buy up as much of that stock as they can. Count on it.
Seems like they have already been punished enough. -Some Soros Judge probably
I’m not worried for them. It’ll just let the big investors who are in-th-know buy the dip. Their outstanding ESG scores and DEI ratios will protect them. No Democrat is gonna allow that many loyal union dues-payers find themselves out of a job.
The EPA will probably ignore the huge amounts of Dioxin likely produced and won't test for it until forced to by the lawyers and lawmakers.
Isn't that already the case? Still zero action from the government other than yeah we will get around to it sooner or later.
I think the lawyers will be on this like white on rice.
This is one of the instances where I can actually applaud their zeal for the big bucks.
We have NO idea what was on that train, therefore your claim of “dioxins” is baseless. We have been told that there were a lot of tank cars full of vinyl chloride but that also may or may not be true. What else was in the consist is unknown.
There was said to be 5 tankers of vinyl chloride, plus other chemicals.
Uncontrolled burning (without regulated high temperature furnaces) of vinyl chloride and polyvinyl chloride compounds will produce toxic dioxin compounds.
This investigation is being started by a number of independent investigators.
I knew about the vinyl chloride but not the PVC. Altogether nasty business.
I heard on INFOWARS.COM that there was PVC as well in some cars, as well as some frozen foods, which added organic material to the fire.
Vinyl chloride is the main feed stock for polyvinyl chloride (PVC).
🤡🤡🤡 50 million 🤣🤣🤣
Only 5000 people here and life is back to normal. Some crews working here... (Not in PPE) and two cops giving out bottled water.
When does Norfolk Southern leak about their 10% for the big guy agreement?
Fits in with Bidens nationalisation of the rail infrastructure.
No.... they just wrote themselves a blank check for the big faggot to bail out
Very sad, NS is a tier 1 railroad.
only lawyers profit from lawsuits. Wake TF up.
Lawyers will take a lot,
but the plaintiffs will likely get some compensation as well.
Plus we will get safer train cars out of this whole mess, eventually.
good opportunity to get a discount on NS stock, it will certainly rebound.
I don't know.
Norfolk Southern will try like the devil and put this to bed, obviously, but I think until you know what the maximum liability is, I'd stay away from their stock.