Norfolk Southern's Profits Over Safety: Putting Lives at Risk

 The recent derailment of a Norfolk Southern freight train in East Palestine, Ohio, has highlighted the dangerous consequences of putting profits over safety. The train was carrying vinyl chloride, a toxic gas that can cause serious health problems, including cancer, if inhaled. As a result, hundreds of residents had to be evacuated, and a controlled burn of the toxic chemicals was necessary. Sadly, this incident is not an isolated case.

In recent years, Norfolk Southern has reported record profits, and the company's CEO, Alan H. Shaw, has boasted about the company's service being "at the best it's been in more than two years." Yet, during this same time, the rate of accidents on Norfolk Southern's railway has increased, and safety experts say a focus on financial returns may be partly to blame for these incidents.

While railway companies have become much more profitable, accidents still regularly occur on the 140,000 miles of track that make up their networks. The rate of accidents on Norfolk Southern's railway has worsened as executives at the company and other railroads have been telling investors on Wall Street that they can bolster their profit margins by keeping a lid on costs. At the same time, railway companies have lobbied against new rules aimed at making trains safer.

Norfolk Southern, which earned more than $3 billion last year, invested close to $2 billion in its railways and operations, up a third from 2021. But over the past five years, it paid shareholders nearly $18 billion through stock buybacks and dividends, twice as much as the amount it invested in its railways and operations. Other large railways have paid out billions to their shareholders, too, and their shares have done better than the wider stock market over the last decade.

Despite the dangers that this company and others pose to the public, the government has failed to hold them accountable. For years, the railroads have fought all kinds of basic safety regulations based on an argument that it simply costs too much to protect our lives, health, and our air and water. Instead of prioritizing safety, the government has allowed corporations to buy themselves out of their responsibilities to the American people.

These incidents demonstrate that the railway industry must take responsibility for the safety of the public and its workers. The government must also hold these companies accountable and put safety over profits. It is not acceptable to put the lives and well-being of the public at risk for the sake of corporate profits.

In conclusion, it is time for Norfolk Southern and other railway companies to prioritize safety and make meaningful investments in their railways and operations. It is also time for the government to hold these companies accountable and put the safety of the public first. The health and safety of our communities should not be a secondary concern to corporate profits.