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Railroad Recession & Airline Boom | Jay Shabat on Planes & Trains
Forward Guidance
The Consolidation of Conrail
There was a company called Penn Central. Pieces of that were actually taken and formed this new government owned freight company called Conrail. And then during the Reagan administration, I think it was after Staggers Act, you had all this consolidation starting. The government so they did an IPO of Conrail. Then eventually it was broken up into Norfolk Southern bought part of it. CSX bought the other part. And that's how it is. So there's two railroads, two big railroads in East today, CSX, Norfolk Southern.
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