(Source: Associated Press, May 10, 2023)
Norfolk Southern’s stock fell before the opening bell Wednesday after the railroad unveiled plans to create a fund for residents near the site of an Ohio train wreck that would cover any decline in home values since a derailment earlier this year. In a May 9 letter to the Senate Committee on Commerce, Science and Transportation, NS CEO Alan Shaw said it is anticipated that homeowners eligible for compensation will initially include those with homes within an approximately five mile radius of the derailment, and who sell their homes for less than what their property was appraised at before Feb. 3, when the derailment took place.
Full story: Associated Press