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...Pittsburgh-based PNC became the fifth-largest US bank by assets last year after it acquired the American business of Spain’s BBVA for $11.6bn, while a year earlier BB&T bought SunTrust for $28bn to create...
...Some of the worst problems are in Chicago, where all seven big North American railroads – known as the Class Is – meet and exchange trains....
...Henry Posner, a Pittsburgh-based railroad investor, said the pair were probably placing a bet on the uptick in rail-based crude oil movements and some other new traffic....
...Henry Posner, who invests in railways worldwide through his Pittsburgh-based Railroad Development Corporation, welcomes the signal the proposed takeover will give to would-be rail investors....
...It was “just a sad-looking country town, even though it had a railroad track to it”, according to Walton’s wife, Helen. Sam died in 1992, Helen in 2007....
...Welch is keen to emphasise that he has not lost sight of who he is: the only son of a railroad conductor from Salem....
...In addition to banking, he knew how to seize and exploit investment opportunities in coal, oil and railroads. However, his astuteness did not carry over into his personal life....
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