Usage of multiple "it/its" in a sentence

I came across the following rule on GMAT club:

If you use the general "it" ("it is hard to run while balancing a bucket of water on your head") you cannot use "it" again to refer to a different antecedent in the sentence.

1) it (general!) is possible to determine how much effort ought to be devoted to each of a company’s products in order to meet its (specific-- the company's) goals in both the short and long terms

2) it (general!) can be determined by company managers how much effort ought to be devoted to each of the company’s products in order to meet its (specific-- the company's) goals, both short and long term

Both 1 and 2 are incorrect sentences.

But then I came across another question:

It was only after Katharine Graham became publisher of The Washington Post in 1963 that it moved into the first rank of American newspapers, and it was under her command that the paper won high praises for its unrelenting reporting of the Watergate scandal.

^ Here, this happens to be a correct sentence. I'm unable to get why the second sentence is correct. Or is the rule wrong?