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October 31, 2011 3:33 PM

How railroads came back from the brink and got ahead

More than three decades after the federal government deregulated freight railroads, the industry is enjoying "a new golden age," said Frank Wilner, the author of several books on railroad economics. After being left for dead in the 1970s, railroads reinvested nearly $10 billion in themselves last year, according to industry figures, and they haven't received taxpayer bailouts.

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