From Hilton Suites Boca Raton--
photobug56 wrote: ↑Wed Feb 22, 2023 10:14 pm
Question, just an opinion; how does safety these days compare on BNSF, NS, UP, CSX, CP, CN? With PSR, super long trains, smaller crews, track closings, yard closings, much higher profits, trains too long for passing sidings?
Mr. Bug, what I have difficulty reconciling is your continued obversion to the Friedman Doctrine, which is summarized et seq:
The Friedman Doctrine is also referred to as the Shareholder Theory. American economist Milton Friedman developed the doctrine as a theory of business ethics that states that “an entity’s greatest responsibility lies in the satisfaction of the shareholders.” Therefore, the business should always endeavor to maximize its revenues to increase returns for the shareholders.
In all likelihood, you are a shareholder yourself - even if through a mutual fund buried into a retirement plan such as a 401k, as distinct from a Brokerage Account in your own name.
Now while the subject here is Joplin, and the potential that Uncle Warren was trying to operate trains for which his road was not designed to handle resulting in the Amtrak incident there, it should be encouraging that Warren's BNSF has the resources to satisfy claimants up to where the very high deductible catastrophic insurance kicks in. First, this presumes BNSF will be held liable for faulty track (and let me emphasize, Mr. Meyer if you're reading), I'm not saying such is the case, rather than faulty Amtrak MofE.
The same is equally applicable to Topper and E. Palestine.
I promise you that "my moribund MILW" would have been busted by a like incident occurring, say, at Two Dot, long before the catastrophic insurance would kick in.
That today there is a financially healthy railroad industry attractive to Wall Street, means that these noted incidents, et magna alia, will have legitimate claimants satisfied.