hadji

opec was created in 1960 and headquartered for some reason in vienna, austria

conrail and amtrack were created out of the old penn central rr created by the vanderbilts

it (penn central) went bankrupt in 1970 when the opec stopped selling oil to the west after opec nations invaded israel in 1967 to raise oil prices

conrail was created out of the remnants of penn central in 1976 after the 1973 - 19 day yom kippur war when opec nations attacked israel to raise oil prices with the 1973 begun arab oil embargo

president jimmy carter helped keith richards kich heroin and created the strategic oil reserve that stopped the opec nations from using oil prices as weapons against oil addicted nations

norfolk southern and csx bought conrail in 1984 when reagan put it up for sale to privatize it, and created a privately owned federally subsidized duopoly that controlled railroad service throughout the eastern u s

van buren maine has the lowest electric rates in the state because of the grand falls, nb dam which was built to power the old electrified bangor and aroostook railroad

salmon could not make it up the st john river past the grand falls anyway

the post bankrupt penn central bought sprague electric with the $2.1 billion it received for the sale to conrail and sprague's dr lehovec apparently invented the fundamental component of the computer chip, which was also the integral part of the solar cell

moore's law for solar panels is called swanson's law

dr lehovec was an operation paperclip scientist from austria

#oilandinflation

cornelius vanderbilt took control of the new york central railroad in 1867

the new york central railroad began as a line between albany, new york and schenectady new york - where g e was headquartered - to avoid the locks between the erie canal and the hudson river

the erie canal was completed in 1825

general electric⚡ was founded in 1892 in schenectady, new york which is at the eastern end of the mohawk river, which flows west to east and is part of the erie canal that connects the atlantic ocean via the hudson river to lake erie

charles coffin was an original founder of g e

g e and westinghouse were in a duopoly manufacturing electrical products

'The defining characteristic of both duopolies and oligopolies is that decisions made by sellers are dependent on each other.'

- duopoly wiki

penn central / conrail purchasers csx and norfolk southern are in a duopoly

the mohawk and hudson railway was completed in 1831

'The Mohawk and Hudson Railroad was the oldest segment of the NYC merger and was the first permanent railroad in the state of New York and one of the first railroads in the United States. It was chartered in 1826 to connect the Mohawk River at Schenectady to the Hudson River at Albany, providing a way for freight and especially passengers to avoid the extensive and time-consuming locks on the Erie Canal between Schenectady and Albany. The Mohawk and Hudson opened on September 24, 1831, and changed its name to the Albany and Schenectady Railroad on April 19, 1847.'

- new york central railroad wiki

'On February 1, 1968, the Pennsylvania Railroad merged with its longtime arch-rival, the New York Central Railroad. The Pennsylvania Railroad absorbed the New York Central and eventually went by the name of Penn Central Transportation Company.[10]'

- pennsylvania railroad wiki

'Penn Central began a new life with the assets accumulated primarily by Stewart Saunders, including the gas pipeline company, coal leases, valuable real estate and air rights over such parcels as New York City's Grand Central Terminal. Then, in January 1981, the company received cash of $2.1 billion in compensation for its rail properties from the U.S. government and tax loss carry forwards of $2.2 billion. Penn Central used this cash to make several acquisitions, including Marathon Manufacturing, which made oil rigs; G.K. Technologies, an electronics company; Buckeye Gas Products, which dealt in propane gas; and Sprague Electric, a manufacturer of capacitors. Many of these acquisitions proved to be unprofitable. By 1982, American Financial Corp.'s Carl Lindner amassed enough stock in Penn Central to be elected to the company's board, and in 1983, he became chairman.

In the mid-1980s, the company began narrowing its focus by selling certain of its operating assets, primarily Buckeye PipeLine and Buckeye Gas. By the spring of 1987, Lindner had assumed the additional role of chief executive officer, and Penn Central accelerated the sales of most of its earlier acquisitions, increasing its available cash to $1.1 billion and reducing its debt to five percent of capital.

In 1989, the company acquired its first insurance operation, Republic Indemnity Co. of America, a large writer of worker's compensation insurance in California. In 1990, three non-standard auto insurance companies were acquired.'

- funding universe

opec was created in 1960 and headquartered in vienna, austria

penn central allegedly went bankrupt in june 1970 after the federal government, under nixon, withdrew a $300 million federally insured loan

'In reaction to the June 1967 war, Saudi Arabia, Kuwait, Iraq, Libya, and Algeria banned oil shipments to the United States, United Kingdom, and West Germany. '

- brookings institute june 5th, 2017

in 1994 penn central changed it's name to

american premier underwriters in 1994

then in 1999 it becomes the great american insurance group

g a i g - the great american insurance group

which is based in cincinnati, ohio

and is not a i g the world's largest insurance group based in new york city which is called the american international group but also sells insurance

- los angelas times a i g is the world's biggest property insurer

penn central was guaranteed a loan by the u s defense department in 1970 as a part of the defense production act, but the defense department changed it's minds causing penn central to go bankrupt

'It is understood that one promise the bankers insisted upon as a condition of making new loans available to the railroad was that it get new management. Directors of the carrier took the first step to ward satisfying this demand on June 8 by obtaining the resignations of Stuart T. Saunders as chief executive officer and David C. Bevan as chairman of the finance committee.

The board also “relieved” Alfred E. Perlman of his duties as vice chairman. The positions of chairman and chief executive officer were filled by Mr. Gorman, who had been brought in as president of the railroad only last December.'

- new york times june 20th, 1970