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Two billionaires want to restore glory of U.S. passenger railroads

(Source: Bloomberg, February 1, 2019)

WASHINGTON, D.C. — When American industrialist Henry Flagler decided to add Miami as a stop on his east coast Florida railway in the 1890s, the watery settlement had just a few hundred inhabitants. More than a century later, the city has flourished but the American public’s love affair with trains has soured. The country’s rail freight network is among the world’s best; its passenger rail services certainly aren’t. Now, a couple of modern-day Flaglers — Wes Edens, co-founder of Fortress Investment Group LLC, and Virgin Group’s Richard Branson — aim to change that. They still need to persuade investors to come along for the ride.

Full story: Yahoo Finance

Monday, February 4, 2019

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