Norfolk Southern to pay homeowners near Ohio derailment

By MICHELLE CHAPMAN
AP Business Writer

Norfolk Southern has recommitted to setting up a fund for East Palestine, Ohio residents whose homes have declined in value since a train derailment there earlier this year. CEO Alan Shaw said in a letter on Tuesday that while the company has total accrued charges of almost $400 million for the derailment, that amount doesn’t include expected costs for funds tied to falling property values, long term health care or water treatment. Shaw said the company was “undertaking these efforts and expenses without any judicial or investigatory finding of fault.”