Difference between revisions of "Penn Central"
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| − | The '''Penn Central''' was a [[ | + | 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]] | ||
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==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: | + | ==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 | ||
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| + | [[Category:Railroads]] | ||
Revision as of 16:43, October 4, 2009
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 privatized in 1999 and divided between the two remaining U.S. East Coast Class I railways, CSX and Norfolk Southern.
see also
External links
Further reading
- Daughen, Joseph R., and Peter Binzen. The Wreck of the Penn Central (1999) 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