Top quote: Norfolk Southern Corporation
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New York Times, 2/17/2023
The accidents were a stark reminder that, even as freight railroad companies have become much more profitable in recent years, accidents, some serious, still regularly occur on the 140,000 miles of track that make up their networks. The rate of accidents on Norfolk Southern’s railway increased in each of the last four years, according to a recent company presentation.
The record has worsened as executives at Norfolk Southern 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. [emphasis added]
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