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Off track: How common are train derailments?

Off track: How common are train derailments?

Derailed

Emergency services are monitoring the fallout from a train derailment earlier this week in Florida after a 30,000-gallon tanker carrying propane gas was found on its side.

While officials said that there appeared to be “no leakage at this time”, the situation is drawing comparisons with the East Palestine derailment in early February, with the hazardous extent and health concerns caused by that incident still unknown. The Florida derailment also came on the same day as a tragic incident in Greece, where a collision between a freight and passenger train claimed the lives of 57 people.

Tracking the data

With recent incidents in Ohio, South Carolina, Texas and now Florida, it may feel like the number of derailments in the US has suddenly increased — but they have actually been a common phenomenon for years.

Indeed, the Federal Railroad Administration, which has been monitoring annual train accidents across America since 1975, has recorded more than 12,500 derailments in the last decade alone. That’s equivalent to some 21 trains veering off track every single week.

Fortunately, most of those incidents don’t cause a loss of life, or spill toxic material over an entire town. In fact, derailment numbers in general have fallen, roughly halving since 2000.

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How Tesla quietly wound up owning a small piece of SpaceX

Tesla is converting its recent $2 billion investment in Elon Musk’s AI company, xAI, into a small ownership stake in SpaceX — just months before the rocket maker’s highly anticipated IPO.

Here’s what happened: Tesla announced its xAI investment in late January, after a shareholder proposal to invest fell short last year. Several days later, xAI merged with SpaceX. All three companies are headed by Musk.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

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