Did you know that in 2017 Norfolk Southern, the operator of the derailed Ohio train, successfully lobbied a repeal of a rule requiring electronically controlled pneumatic brakes?
Guess who 2 of the top 3 shareholders of NS are:
Vanguard & BlackRock
levernews.com/rail-companies…
Guess who 2 of the top 3 shareholders of NS are:
Vanguard & BlackRock
levernews.com/rail-companies…
NS paid execs millions & spent billions on stock buybacks while shedding thousands of employees despite warnings that understaffing = safety risks
NS also fought off a shareholder initiative for execs to “assess, review, and mitigate risks of hazardous material transportation.”
NS also fought off a shareholder initiative for execs to “assess, review, and mitigate risks of hazardous material transportation.”
Norfolk Southern had previously touted the new technology — known as Electronically Controlled Pneumatic (ECP) brakes — for its “potential to reduce train stopping distances by as much as 60 percent over conventional air brake systems.”
The brakes could’ve stopped the OH crash
The brakes could’ve stopped the OH crash
But instead, costs were cut to boost profits at the expense of innocent people whose air and water are now poisoned
Take a look at the biggest Norfolk Southern stockholders that applied this pressure
Top 3:
Vanguard
JPMorgan
BlackRock
Time to hold them all accountable in court
Take a look at the biggest Norfolk Southern stockholders that applied this pressure
Top 3:
Vanguard
JPMorgan
BlackRock
Time to hold them all accountable in court
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