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Earnings have suffered this quarter and throughout the year as we have changed the composition of our company and implemented the most complex rail merger in history, ... We had difficulty handling strong fourth-quarter demand and changing traffic flows, particularly in the northwestern sector of our new, combined rail network. As a result of this congestion, locomotive, equipment and crew costs were much higher than we expected.
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A stronger financial sector, combined with steps like the liberalization of the retail sector and more effective use of technology in the agricultural sector, would jump-start a surge in investments in India throughout the agriculture and food processing sectors that would add jobs and increase productivity,