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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]].
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==
* [[Pennsylvania Railroad]]
==External links==
==External links==
* [http://tigger.uic.edu/~rjensen/railroad.htm Guide to Railroad History online]
* [http://tigger.uic.edu/~rjensen/railroad.htm Guide to Railroad History online]
[[Category:Rail transport]]
==Further reading==
* Daughen, Joseph R., and Peter Binzen. ''The Wreck of the Penn Central'' (1999) [http://books.google.com/books?id=5ur402YHf7gC&dq=intitle:penn+intitle:central&lr=&as_drrb_is=q&as_minm_is=0&as_miny_is=&as_maxm_is=0&as_maxy_is=&num=30&as_brr=0 excerpt and text search]
* Salsbury, Stephen. ''No Way to Run a Railroad: Untold Story of the Penn Central Crisis'' (1981)
* Sobel, Robert. ''The Fallen Colossus.'' (1977). 370 pp. on the Penn Central
[[Category:Railroads]]