NS Estimates Graniteville Financial Costs

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  • Member since
    April, 2003
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NS Estimates Graniteville Financial Costs
Posted by Anonymous on Monday, January 24, 2005 5:59 PM
January 24, 2005

Norfolk Southern Estimates Graniteville Costs

NORFOLK, VA – Norfolk Southern Corporation (NYSE: NSC) said it expects
the first quarter 2005 to reflect expenses in the range of $30 to $40
million (pretax) relating to the Jan. 6 derailment at Graniteville,
S.C.

The amount includes Norfolk Southern’s self-insurance retention under
its insurance policies, as well as other uninsured costs. Although
potential losses may exceed self-insurance retention amounts, NS
expects at this time that insurance coverage is adequate to cover the
potential claims or settlements. The amount does not include any fines
or penalties that could be imposed.

Norfolk Southern Corporation is one of the nation's premier
transportation companies. Its Norfolk Southern Railway subsidiary
operates 21,500 route miles in 22 states, the District of Columbia and
Ontario, Canada, serving every major container port in the eastern
United States and providing superior connections to western rail
carriers. NS operates the most extensive intermodal network in the East
and is North America’s largest rail carrier of automotive parts and
finished vehicles.

###

For further information contact:
(Media) Bob Fort, 757-629-2710
(Investors) Leanne Marilley, 757-629-2861
-------------
Norfolk Southern Corporation
http://www.nscorp.com

  • Member since
    August, 2003
  • 1,092 posts
Posted by oskar on Monday, January 24, 2005 6:44 PM
that's bad to start to the year and 17 got caught for changing the addesses to graniteville to get some of NS's money I got really pissed off




kevin

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