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The company has agreed to pay the money as part of the settlement, but it does not admit any wrongdoing or liability for the derailment in February of 2023.
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The board hired a consulting firm to rank the 16 applicants who applied for the role. The board winnowed those down to five: UBS, Fifth Third Bank, NEPC, FEG Investment Advisors and Northern Trust.
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Norfolk Southern spent a total of $5,975,000 on a campaign to convince voters to sell the city-owned Cincinnati Southern Railway.
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Voters narrowly approved the sale of the Cincinnati Southern Railway last week, accepting a $1.6 billion deal from Norfolk Southern.
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The official closing of the sale will take place no later than March 15, 2024.
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Cincinnati voters are deciding a hotly debated question on the ballot this election: Should the city sell Cincinnati Southern Railway to Norfolk Southern? On Cincinnati Edition, we devote a second program to Issue 22.
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The first of three public meetings about the sale on the November ballot is Saturday, Oct. 21, at the Evanston Recreation Center.
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Cincinnati voters will decide a hotly debated question on the ballot this election: Should the city sell Cincinnati Southern Railway to Norfolk Southern?
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It’s been eight months since a Norfolk Southern train derailed in East Palestine. Ever since the derailment, and the burn off of vinyl chloride in five tanker cars, some residents have chosen to live in hotels, miles away, and they’re not ready to go back.
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Change is coming to the rail industry in the U.S. — but whether it's for the better or worse depends on who you ask.