(Source: Vice.com, March 22, 2021)
NEW YORK — According to interviews with current and former rail workers, union officials, and independent experts, the Hyndman derailment and others like it are the all-too-predictable result of nearly all the major freight rail companies adopting a business approach called Precision Scheduled Railroading (PSR). Those who work on the railroads every day say PSR is little more than a euphemism for draconian cost-cutting in order to achieve an arbitrary metric that pleases shareholders. Increasingly, railroads are choosing to boost profits and pay shareholders rather than invest in safety.
Full story: www.vice.com