Eastern Railroad Discussion > Norfolk Southern balks at compensating home owners in E Palestine

NS could easily afford to do what's right, but the shareholders prefer they don't.


https://www.cnn.com/2023/03/12/homes/norfolk-southern-east-palestine-home-values/index.html

When people who can't get out of their houses start having major illnesses and die prematurely, NS will be faced with even bigger claims.

CEO Shaw definitely blinked at the Congressional hearing when asked if  NS would do "everything" to make things right for the people of East Palestine.  I heard a "we'll do what's right" from him.

Profits trump all in our version of capitalism.

Until mankind grows up and we begin taking care of each other, and put that first, then there will continue to be needless suffering.

And this is a surprise? This is why the lawyers flocking in needs to happen.

Posted from iPhone

Doug Wetherhold
Macungie, PA

Mediation sounds like a great idea, until you're offered pennies on the dollar you think you're owed.

I still come back to all the firefighters and construction workers working recues on the pile at the  World Trade Center.  They, and the nearby residents, were told the air was OK. It wasn't, and 20 years later many of them are down with rare cancers, breathing issues, etc.

Lackawanna484 Wrote:
-------------------------------------------------------
> CEO Shaw definitely blinked at the Congressional
> hearing when asked if  NS would do "everything"
> to make things right for the people of East
> Palestine.  I heard a "we'll do what's right"
> from him.

Sure. Right for...?

TAW

TAW Wrote:
-------------------------------------------------------
> Lackawanna484 Wrote:
> --------------------------------------------------
> -----
> > CEO Shaw definitely blinked at the
> Congressional
> > hearing when asked if  NS would do
> "everything"
> > to make things right for the people of East
> > Palestine.  I heard a "we'll do what's right"
> > from him.
>
> Sure. Right for...?
>
> TAW

Right for himself, and the share owners.

Lackawanna484 Wrote:
-------------------------------------------------------
> CEO Shaw definitely blinked at the Congressional
> hearing when asked if  NS would do "everything"
> to make things right for the people of East
> Palestine.  I heard a "we'll do what's right"
> from him.

He said a lot more than that.  

"I am determined to make this right," Shaw continued. "Norfolk Southern will clean the site safely, thoroughly and with urgency. You have my personal commitment. Norfolk Southern will get the job done and help East Palestine thrive at the direction of and in collaboration with the U.S., EPA, state and local agencies."


If true it sounds like a lot more than "what's right for himself and the shareholders."
 



Edited 1 time(s). Last edit at 03/12/23 19:13 by Typhoon.

Lackawanna484 Wrote:
-------------------------------------------------------
> TAW Wrote:
> --------------------------------------------------
> -----
> > Lackawanna484 Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > CEO Shaw definitely blinked at the
> > Congressional
> > > hearing when asked if  NS would do
> > "everything"
> > > to make things right for the people of East
> > > Palestine.  I heard a "we'll do what's
> right"
> > > from him.
> >
> > Sure. Right for...?
> >
> > TAW
>
> Right for himself, and the share owners.

SCORE!

TAW

Typhoon Wrote:
-------------------------------------------------------
> If true it sounds like a lot more than "what's
> right for himself and the shareholders."

The fact that you had to qualify his words with the "if true" part proves that this is definitely not a convincing argument. If he really meant his words about making things right then when he was directly asked if NS would pay for the loss of property value due to the mess, all he had to say was yes, we will. And not be evasive several times parroting the same stupid reply. That's why they kept asking him the same question, because he wouldn't give a clear answer. If you really mean something, you say it, even explaining further if there seems to be doubt. Not hard at all. That did not happen here...

JG

Typhoon Wrote:
-------------------------------------------------------
> Lackawanna484 Wrote:
> --------------------------------------------------
> -----
> > CEO Shaw definitely blinked at the
> Congressional
> > hearing when asked if  NS would do
> "everything"
> > to make things right for the people of East
> > Palestine.  I heard a "we'll do what's right"
> > from him.
>
> He said a lot more than that.  
>
> "I am determined to make this right," Shaw
> continued. "Norfolk Southern will clean the site
> safely, thoroughly and with urgency. You have my
> personal commitment. Norfolk Southern will get the
> job done and help East Palestine thrive at the
> direction of and in collaboration with the U.S.,
> EPA, state and local agencies."
>
>
> If true it sounds like a lot more than "what's
> right for himself and the shareholders."
>  

It's all just words. What matters is what they actually do. 

Only time will tell.

How would one even go about quantifying the loss?   If the person in the article wasn't downstream of the wind or runoff areas his property may have been unaffected.

The gentleman is stating he could have sold last spring and made some money on a home he bought in 2016.   Well, it seems home prices have been staying steady or dropping since the height of the pandemic so again how do you determing his "loss"?

The article goes on to state only a few homes sell in that town per year and the local realtor said long term this will probably not change anything as this moves off the front page.

 

Couple of thoughts on this.

First, any CEO would be a damn fool to appear at a Congressional hearing and delve into the specifics of what the company plans to do. I know from personal experience that the lawyers prepping you for Congressional or STB testimony always counsel you to keep your answers generic and, if you don’t have an immediate answer, tell the member you will follow up with them.

Equally foolish would be the CEO who starts promising concrete commitments at the same time the injured parties are all lawyering up. Nothing Shaw says at this point will mitigate NS’ exposure in the coming litigation circus.

Last thought; I don’t recollect anything appearing here on TO about the personal contribution Shaw made toward the folks in East Palestine. He donated over $400K of his own money to create an educational endowment for seniors at East Palestine HS. I suspect that among his peers at the other Class 1’s, Shaw would be the only CEO to do something like this under these circumstances. In fact, among all CEO’s across any industry, I suspect you wouldn’t find more than a handful who would do something like this in these circumstances.

CW

Posted from iPhone

Juniata Wrote:
-------------------------------------------------------
> Couple of thoughts on this.
>
> First, any CEO would be a damn fool to appear at a
> Congressional hearing and delve into the specifics
> of what the company plans to do. I know from
> personal experience that the lawyers prepping you
> for Congressional or STB testimony always counsel
> you to keep your answers generic and, if you
> don’t have an immediate answer, tell the member
> you will follow up with them.
>
> Equally foolish would be the CEO who starts
> promising concrete commitments at the same time
> the injured parties are all lawyering up. Nothing
> Shaw says at this point will mitigate NS’
> exposure in the coming litigation circus.
>
> Last thought; I don’t recollect anything
> appearing here on TO about the personal
> contribution Shaw made toward the folks in East
> Palestine. He donated over $400K of his own money
> to create an educational endowment for seniors at
> East Palestine HS. I suspect that among his peers
> at the other Class 1’s, Shaw would be the only
> CEO to do something like this under these
> circumstances. In fact, among all CEO’s across
> any industry, I suspect you wouldn’t find more
> than a handful who would do something like this in
> these circumstances.
>
> CW
>
> Posted from iPhone

Good points.

In my brief observations, Mr Shaw has always seemed to be a decent guy. Not dismissive of other folks

As long as "taking care of each other" requires no additional taxation and isn't codified in law, I'm for it. We do it all in principle each day.  Taking care of each other should be on a voluntary basis, not forced or through already high taxes.  I'm of the notion personal accountability and responsibility should become a priority in our nation.  If someone can't take care of themselves,  they need to look hard from within before being lazy and claiming victim.   Victimism destroys your future. 

Burt

restricted_speed Wrote:
-------------------------------------------------------
> Profits trump all in our version of capitalism.
>
> Until mankind grows up and we begin taking care of
> each other, and put that first, then there will
> continue to be needless suffering.

Being retired (2018, although somewhat still involved) I don't have a dog in this fight, but I will say this - Mr Shaw basically inherited Mr Squires PSR messed up RR. Train lengths were slowly coming down under his watch and there appeared to be signs that the company was trying to back it's way out of the PSR model. While I don't agree with everything that's been said or done, I think he was thrown into this fire (no pun intended) and will do the best he can. There is an immense amount to juggle. More frustrating than anything has been the armchair "experts" that have oozed out of the (social media) woodwork with totally ridiculous comments. And don't even get me going on the likes of the totally useless Pothole Pete who tweets his 2 cents worth....or is it 1 cent....

Roger Durfee
Akron, OH

Have to totally agree with EL833 above. Was thinking the same for weeks now, and it would actually be a sad state of affairs to "fry" the new management because of actions the previous ones did. But it looks like that's what everyone is pushing for, and that could actually go back to things being even worse. In many ways, Mr. Shaw seems to be getting the NS back on track from what the previous management people did to it.



Edited 1 time(s). Last edit at 03/14/23 01:32 by Bunny218.

In many casex, like this one, the process is to shoot first, ask questions later.

Not good for any new management trying to change course in a big organization.

Posted from Android