Posted on Feb 22, 2023
Norfolk Southern is paying $6.5 million to derailment victims. Meanwhile, it's shelling out $7.5...
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"The company spent $3.4 billion on share repurchases last year, and $3.1 billion in 2021, bringing its recent share repurchases to $6.5 billion. That towers over what it said is its financial commitment to East Palestine, which it said exceeds $6.4 million in direct aid to families and government agencies, in addition to what will be required in cleanup costs."
Norfolk Southern is paying $6.5 million to derailment victims. Meanwhile, it's shelling out $7.5...
Posted from cnn.com
Money
Finance
Posted >1 y ago
Responses: 3
Not bad .. averages out to $1,377 per person in East Palestine ... that's up from the reported $1,000 they were offering before (yes .. this is sarcasm).
While there are going to be lawsuits galore against them by the residents of East Palestine, giving out a pittance now is just going to feed into the "uncaring corporate 'anything for a buck'" trope and is going to haunt them a bit more in the future.
While there are going to be lawsuits galore against them by the residents of East Palestine, giving out a pittance now is just going to feed into the "uncaring corporate 'anything for a buck'" trope and is going to haunt them a bit more in the future.
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Tyring to settle early versus waiting on the lawsuits. $6.5 M is chump change for the long lasting effects these folks will have to live with.
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