Norfolk Southern, $NSC, whose trains derailed in East Palestine, Ohio, spilling toxic vinyl chloride, has announced it is creating a $1 million fund for the victims.

It spent $4 billion on stock buybacks last year. It has a quarterly income of $1.3 billion.

See NSC stock info: https://unusualwhales.com/stock/nsc/overview

This week, as well, Representatives of the Norfolk Southern railway company, whose train carrying the chemicals derailed 13 days ago causing a huge fire, cited security concerns when they pulled out.

Residents of East Palestine, Ohio, returned to their homes after a train derailment on Feb 3rd. 50 train cars derailed, 10 of which carried hazardous materials, causing a controlled release of toxic fumes on Feb 6th to prevent an explosion.

They returned on Feb 13.

The cause of the derailment was due to a mechanical issue with a rail car axle. Five of the rail cars contained vinyl chloride which was unstable and at risk of exploding. To prevent this, a controlled release of the vinyl chloride was executed, releasing the gas into a trough that was then set on fire, resulting in a large plume above East Palestine.

Ohio and Pennsylvania's governors, Mike DeWine and Josh Shapiro, ordered the immediate evacuation of hundreds of residents within a 1-mile by 3-mile area surrounding East Palestine.

Residents who stayed in the area and inhaled the fumes faced death or serious injuries such as skin burns and lung damage. The EPA continues to monitor the air quality.

Read more: https://unusualwhales.com/news/norfolk-southern-train-derailment