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3 workers died at Hyundai's Georgia plant since 2022, before US immigration raid: report
New York Post· 2025-10-12 18:58
Three workers have died since Hyundai Motor started construction of its $7.6 billion auto plant in Georgia in 2022, the Wall Street Journal reported on Sunday, citing a review of federal records.Dozens of the company’s current and former workers, many of them safety coordinators who helped oversee construction, told the newspaper in interviews that the work environment involved many inexperienced immigrant laborers, often lax safety standards and frequent accidents.The plant, which is operated through a joi ...
UniFirst's Owensboro Earns OSHA's VPP Star Certification and Governor's Health and Safety Award
Prnewswire· 2025-05-20 11:45
Core Insights - UniFirst Corporation has achieved significant safety milestones at its Owensboro Distribution and Fulfillment Center, receiving the OSHA VPP Star certification and the Governor's Safety and Health Award [1][3][4] Safety Achievements - The VPP Star certification is OSHA's highest recognition for workplace safety, awarded to organizations with exceptional safety practices [3] - The Governor's Safety and Health Award is given to workplaces that have exceeded 1,000,000 hours without a lost time incident, highlighting a strong safety culture [3][4] - This marks the fourth time UniFirst has received the Governor's Safety and Health Award, with previous recognitions in 2010, 2020, and 2022 [4] Commitment to Safety - The safety achievements are attributed to the efforts of the dedicated Team Partners at UniFirst, emphasizing teamwork and a strong safety culture [5][6] - The VPP certification process includes thorough evaluations and on-site audits by Kentucky OSHA experts, along with employee surveys to ensure a safety-first culture [5] - The facility has implemented ongoing bi-weekly plant audits and quarterly evaluations across 25 operational areas to maintain high safety standards [6] Expansion and Investment - UniFirst is also undertaking a 109,000-square-foot expansion project at the Owensboro Distribution Center, increasing its total footprint to nearly half a million square feet [7] - This expansion has received recognition and support from the Governor, reflecting the company's commitment to investing in its operations and workforce [7]
CSX's Shareholder-Friendly Stance Aids Amid Debt & Coal Market Woes
ZACKS· 2025-04-04 15:35
Core Viewpoint - CSX Corporation is actively rewarding shareholders through dividends and buybacks, but faces significant challenges from high debt levels and a struggling coal market [1]. Factors Favoring CSX - CSX has demonstrated a shareholder-friendly approach by paying dividends of $852 million in 2022, $882 million in 2023, and $930 million in 2024, with a current dividend yield of 1.75% [2] - The company repurchased shares worth $4.73 billion in 2022, $3.48 billion in 2023, and $2.24 billion in 2024, indicating a strong commitment to returning capital to shareholders [2]. Safety and Operational Improvements - CSX has made commendable progress in workplace safety, with the FRA Personal Injury Frequency Index improving to 0.89 in 2023 from 1.01 in 2022, and the FRA train accident rate improving to 3.32 in 2023 from 3.37 in 2022 [3]. - The company plans to launch a new safety training program for operations leaders in the current year [3]. Key Risks for CSX - Rail network issues, including locomotive and crew shortages, pose significant challenges that could adversely impact service levels and operational efficiency [4]. - High labor costs, projected to increase by 4% in 2024, contribute to elevated operating expenses, affecting profitability [4]. Financial Concerns - CSX's total net capital expenditures are expected to reach $2.5 billion for 2025, indicating high debt levels, with long-term debt at $17.9 billion and a long-term debt-to-capitalization ratio of 59% [5]. - The company's times interest earned ratio of 6.5 is below the industry average of 7, raising concerns about financial stability [5]. Coal Market Challenges - The coal market weakness has led to a 10% year-over-year decline in coal revenues to $2.24 billion in 2024, with coal volumes decreasing by 3% [6]. - For 2025, CSX anticipates further declines in coal volumes due to facility shutdowns and mine production issues [6]. - Over the past six months, CSX shares have decreased by 16.8%, underperforming the Zacks Transportation-Rail industry's decline of 5.8% [6].