RAILROADS: Unclean Hands

Like a mosquito at dusk, Manhattan Financial Consultant Randolph Phillips, 47, has driven many a big corporation to distraction with his stinging jabs at management control. His favorite target is railroads. Turning on his onetime associate, New York Central Railroad Chairman Robert R. Young, Phillips harried him so persistently through the courts that Young hardly dared go to Manhattan for months before his death because he feared Phillips' summonses. Last week Randy Phillips himself got swatted. He not only lost a court fight over his campaign to win a seat on the Pennsylvania Railroad's board but also took a...

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