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Why did Penn Central fail?
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IN BEVAN S OPINION PRR HAD IN EFFECT BEEN EATING ITS SEED CORN FROM THE LATE 50S ON ALSO THE FUNDS USED FOR PC DIVERSITY PROGRAM DIDN T COME FROM RR OPS BUT RATHER FROM THE PROCEEDS OF THE N&W STOCK SALES AND HAD IN FACT BEEN THE SOURCE OF ANY PRR PROFITS IN 67
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