Norfolk Southern suffers $387M loss from East Palestine crash, pushes back on safety reforms

Norfolk Southern expects the derailment to cost the company $387 million in damages and cleanup fees which do not include insurance coverage, a 34% drop in first quarter profits.
The company aims to complete cleanup and repair tracks by early June as East Palestine residents report poor air and water quality from the crash.
Norfolk Southern says it has made safety improvements but will not change its "lean operating model."
The railroad's safety record has improved overall despite the derailment, the company says.
Ohio senators want to strengthen rail safety standards, but Norfolk Southern and the rail industry are resisting reforms.