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New page: The '''Penn Central''' was a railway in the United States formed in 1968 from a merger of the Pennsylvania Railroad and New York Central. At the time the two railroads...
The '''Penn Central''' was a [[railway]] 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]].
[[Category:Rail transport]]
[[Category:Rail transport]]