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The '''Penn Central''' was a major [[railroad]] in the [[United States]] formed in 1968 from a merger of the [[Pennsylvania Railroad]] and [[New York Central]].  At the time the two railroads were among the largest and most prosperous in the U.S. and the merger was seen as a logical next step toward growing both companies.  However, the new Penn Central declared bankruptcy in 1970.  The case of the Penn Central railroad is often cited in business courses as a case study in hasty and poorly thought out business decisions.  The bankrupt Penn Central was then absorbed, along with several other bankrupt eastern railroads, into the U.S. government owned [[Conrail]] which kept the trains running on these lines until 1999.  The assets of Conrail were finally [[privatization|privatized]] in 1999 and divided between the two remaining U.S. East Coast [[Class I railway]]s, [[CSX]] and [[Norfolk Southern]].

The '''Penn Central''' was a major [[railroad]] in the [[United States]] formed in 1968 from a merger of the [[Pennsylvania Railroad]] and [[New York Central]].  At the time the two railroads were among the largest and most prosperous in the U.S. and the merger was seen as a logical next step toward growing both companies.  However, the new Penn Central declared bankruptcy in 1970.  The case of the Penn Central railroad is often cited in business courses as a case study in hasty and poorly thought out business decisions.  The bankrupt Penn Central was then absorbed, along with several other bankrupt eastern railroads, into the U.S. government owned [[Conrail]] which kept the trains running on these lines until 1999.  The assets of Conrail were finally [[privatization|privatized]] in 1999 and divided between the two remaining U.S. East Coast [[Class I railway]]s, [[CSX]] and [[Norfolk Southern]].

==see also==

==See also==

* [[Pennsylvania Railroad]]

* [[Pennsylvania Railroad]]