The U.S. Nationwide Transportation Security Board stated Tuesday it’s opening a particular investigation into Norfolk Southern’s (NYSE:NSC) security practices and tradition following a sequence of derailments and deadly accidents involving the railroad.
“Given the quantity and significance of current Norfolk Southern accidents, the NTSB additionally urges the corporate to take instant motion immediately to evaluate and assess its security practices,” the NTSB stated.
The announcement got here simply hours after a Norfolk Southern (NSC) conductor was killed after being hit by a dump truck at a Cleveland-Cliffs (CLF) worksite in Ohio, prompting the NTSB’s fifth investigation involving the railroad since December 2021.
Norfolk Southern (NSC) already was underneath vital scrutiny since a practice jumped the tracks in East Palestine, Ohio, on February 3, spilling poisonous chemical substances; a second derailment in Ohio occurred final week.
Additionally, a union representing Norfolk Southern (NSC) employees in Ohio warned federal regulators final yr that the corporate repeatedly disregarded its personal security guidelines for screening trains, Bloomberg reported Tuesday.
CEO Alan Shaw is scheduled to testify earlier than a U.S. Senate committee on Thursday.
Norfolk Southern’s (NSC) largest downside is falling financial progress, not the East Palestine disaster, Leo Nelissen writes in an evaluation revealed not too long ago on Looking for Alpha.