eolesen wrote: ↑Mon Feb 20, 2023 4:27 pm Other than claims of dead livestock and itchy eyes, the environmental damage does seem minimal in comparison to pipeline incidents involving ethanol and MBTE spills.Well in fairness some right-wing media figures are also treating this as a huge environmental disaster to try to fear monger with conspiratorial points that the administration is indifferent to the plights of these people because they voted for Trump and to help stoke the ongoing culture war being waged by certain elements of the right and left. Media on both sides are talking up this incident - there is admittedly a big difference in coverage from certain right wing populist talking heads on a certain cable network and your more traditional right of center supply side conservative more investor friendly publications like WSJ but the point remains both left and right leaning media are talking this incident up.
I like how the Times tried to bring Trump into this, but admits at the very end later that the Obama changes which were rolled back (crew size and electronic braking) wouldn't have mattered. It's a great distraction from Mayor Pete's absence until a week after the accident and some calls for his resignation late last week.
With all due respect to those of us here that are investors of railroad firms, this incident is certainly significant enough to warrant some scrutiny and investigation of NS and any of its business practices that may have contributed. That doesn't mean that I support that we should over-react with talk of nationalizing the rail industry or even putting unreasonable restrictions on business practices that are of undue harm to shareholders and investors. Obviously benefiting the shareholders of a firm is the primary goal of any firm and I am not arguing that it shouldn't be, but any system or business practice can be overly indulged in or abused regardless of its honest intentions - this doesn't mean that PSR needs to be 100% rolled back industry wide or essentially banned with regulations unfair to investors, but if investigation shows certain roads are overindulging in PSR dogma and taking it too far and its affecting safe operations, that warrants some scrutiny.
This is not meant to be anti investor or anti Wall Street across the board. Investment is a crucial part of the lifeblood of our economy, and I am all for investors earning the fair return they are entitled to, but there is a difference between your average investor and the pump and dump short term gain mentality that certain big investment firms engage in. Certain decisions that may be beneficial for short term gain can ultimately harm long term stability. I do believe an aspect of our investment culture is overly fixated on maximizing short term gains and return at all costs without regard to the long term which in my opinion isn't fair to longer term investors who could be harmed by longer term consequences. The idea and principles of PSR is surely good intentioned, but any idea can be abused or overdone in its execution and there do need to be some guardrails for what is a crucial industry in transporting goods across the country.
Last edited by lordsigma12345 on Tue Feb 21, 2023 2:48 pm, edited 2 times in total.