Ohio Train Derailment settlement offer... $600 million

[IdeomotorPrisoner]

In February 2023 a Norfolk Southern-operated train derailed near East Palestine, Ohio... that derailment developed into a more than a million-gallon toxic chemical spill.  America's largest, if I am not mistaken.

The derailment was met with stereotypical corporate and political malaise, subjected to stereotypical below-par media coverage, and generally the subject of much foot-dragging insofar as 'what to do to fix it.'  There are at least 20 class-action lawsuits which seek remedy for the handling of this material and the subsequent damages (both measured and yet to manifest itself.)

Reuters: Norfolk Southern agrees to pay $600 million to settle Ohio derailment lawsuit

The Reuters reporting title sems to be indicating that this is a "done deal" but it is not.  The court hasn't approved the offer... so there's that.  Also, the settlement would indemnify Northern-Southern from the other class-action suits brought against it while simultaneously establishing for posterity that...
 

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Norfolk Southern is not admitting liability or wrongdoing.

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... But of course.  This is how corporate "justice" is done in America...
 

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Last year, Norfolk Southern agreed to compensate homeowners around East Palestine, Ohio who have had to sell their properties at a reduced value.
In addition to the class action, Norfolk Southern also faces lawsuits filed by shareholders, the state of Ohio and the U.S. Justice Department.
In May 2023, a U.S. Senate committee approved bipartisan rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train, but further action has stalled.

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... stalled...  Yup!...

In February 2023 a Norfolk Southern-operated train derailed near East Palestine, Ohio... that derailment developed into a more than a million-gallon toxic chemical spill.  America's largest, if I am not mistaken.

The derailment was met with stereotypical corporate and political malaise, subjected to stereotypical below-par media coverage, and generally the subject of much foot-dragging insofar as 'what to do to fix it.'  There are at least 20 class-action lawsuits which seek remedy for the handling of this material and the subsequent damages (both measured and yet to manifest itself.)

Reuters: Norfolk Southern agrees to pay $600 million to settle Ohio derailment lawsuit

The Reuters reporting title sems to be indicating that this is a "done deal" but it is not.  The court hasn't approved the offer... so there's that.  Also, the settlement would indemnify Northern-Southern from the other class-action suits brought against it while simultaneously establishing for posterity that...
 

---

Norfolk Southern is not admitting liability or wrongdoing.

---

... But of course.  This is how corporate "justice" is done in America...
 

---

Last year, Norfolk Southern agreed to compensate homeowners around East Palestine, Ohio who have had to sell their properties at a reduced value.
In addition to the class action, Norfolk Southern also faces lawsuits filed by shareholders, the state of Ohio and the U.S. Justice Department.
In May 2023, a U.S. Senate committee approved bipartisan rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train, but further action has stalled.

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... stalled...  Yup!...

We gotta murder all lobbyists. (Not really)

It truly is the double edge sword or capitalism. He have a free market, and Atlas will inevitably shrug. It's not about a monopoly, but it's still the same nepotistic pull with regulators and oversight to receive favorable treatment.

On this hand you have the inevitable stalling, which happens when there is stubborn debate. The Railroad says the car owner failed to maintain their railcar bearings. GATX said GTFO.

GATX vs Norfolk Southern. Both have their lobbyist to assure their own ass is covered. Each is more than happy to let the other make the payout.

In reality, a "plastic pellet car" failed and took out Norfolk-Southern's train out with it.

Even as nepotistic as corporate law is, I kinda see the angle of settling without admitting liability or admitting fault. Maybe GATX left this untracked car too long at their salty New Orleans railyard and it was their lack of maintenance that decayed the lubricant that prevents bearings from catastrophic failure?