When Edward Burkhardt decided to invest in the Baltics, he went for broke. He sold his railroad business in Wisconsin and bought a 66 percent stake in Estonian Railway in 2001. He assumed the position of chairman, but the job has been anything but calm. Government interference has prevented the company from fulfilling its development plans, Burkhardt says, and has even disillusioned many U.S.-based shareholders.Thanks to two state decisions 's not to allow Estonian Railway to raise infrastructure charges for other cargo handlers and to revalue its assets 'sEstonian Railway has seen a drasti...
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