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[quote user="dakotafred"] [quote user="Sam1"] Irrespective of which political party controls the state legislature, it appears that the agreements governing the NCRR’s operations, especially those with Norfolk Southern, would prohibit a wholesale transfer of its assets for non-railroad purposes, at least in the short run. For example, in 2011, the company had only approximately $130,000 of uncommitted cash after apparent agreed operating and capital outlays that the politicians could have been grabbed. [/quote] Zat so? Makes you wonder how those wily, raiding Republicans think they are going to siphon off $55 million over 10 years. Pardon me for doubting they are as bad at math as all that. [/quote] If they are like most politicians, they probably took a quick look at the 2011 net income, multiplied it by 10, and concluded that they could grab $55 million over ten years. Apparently they did not look at the cash flow statement, which in many respects is more important than the income statement, or consider the need to allow the railroad to generate income to offset the accumulated losses.
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