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?? “Was It Worth It? Cincinnati’s Historic Railroad Sale”
From its inception in the late 19th century as a symbol of progress and prosperity, the Cincinnati Southern Railway has been more than just tracks and trains. It’s been a testament to Cincinnati’s visionary spirit and a cornerstone of public ownership, generating significant revenue annually.
Fast forward to today, and Cincinnati has made a monumental, yet controversial, decision: selling this historic railway to Norfolk Southern Corp. for $1.6 billion. This move, fueled by the allure of a substantial financial boost for city infrastructure, has sparked intense debate. Was selling a centuries-old public asset, steeped in history and profitability, the right call? Especially considering Norfolk Southern’s spotty safety record and the critics’ concerns about undervaluation and lack of transparency in negotiations.
The sale is a pivot from a legacy of public stewardship to private control, raising critical questions about the future of public assets and the power of corporate influence in shaping city narratives. As cities across America watch, Cincinnati’s choice at this historical crossroads may well set a precedent for balancing public ownership with private interests.
? The Story Behind the Sale:
Norfolk Southern’s campaign for the sale, marked by record-breaking election spending, was successful but not without contention. The cost per “yes” vote and the disparity in campaign resources between the proponents and the grassroots opposition, like Railroad Workers United, cast a long shadow over the democratic process.
As we reflect on Cincinnati’s decision, it serves as a poignant reminder of the ongoing debate over public assets and community self-determination in the face of encroaching privatization.
#CincinnatiRailroad #PublicVsPrivate #InfrastructureDebate
A new campaign finance report shows Norfolk Southern spent $6 million convincing voters to sell it the city-owned railroad. That's $136 per yes vote.
More...
From its inception in the late 19th century as a symbol of progress and prosperity, the Cincinnati Southern Railway has been more than just tracks and trains. It’s been a testament to Cincinnati’s visionary spirit and a cornerstone of public ownership, generating significant revenue annually.
Fast forward to today, and Cincinnati has made a monumental, yet controversial, decision: selling this historic railway to Norfolk Southern Corp. for $1.6 billion. This move, fueled by the allure of a substantial financial boost for city infrastructure, has sparked intense debate. Was selling a centuries-old public asset, steeped in history and profitability, the right call? Especially considering Norfolk Southern’s spotty safety record and the critics’ concerns about undervaluation and lack of transparency in negotiations.
The sale is a pivot from a legacy of public stewardship to private control, raising critical questions about the future of public assets and the power of corporate influence in shaping city narratives. As cities across America watch, Cincinnati’s choice at this historical crossroads may well set a precedent for balancing public ownership with private interests.
? The Story Behind the Sale:
Norfolk Southern’s campaign for the sale, marked by record-breaking election spending, was successful but not without contention. The cost per “yes” vote and the disparity in campaign resources between the proponents and the grassroots opposition, like Railroad Workers United, cast a long shadow over the democratic process.
As we reflect on Cincinnati’s decision, it serves as a poignant reminder of the ongoing debate over public assets and community self-determination in the face of encroaching privatization.
#CincinnatiRailroad #PublicVsPrivate #InfrastructureDebate
A new campaign finance report shows Norfolk Southern spent $6 million convincing voters to sell it the city-owned railroad. That's $136 per yes vote.
More...