The Wreck of the Penn Central

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It took ten years of laborious planning and exhaustive negotiations to create the mammoth Penn Central Railroad, the largest railroad in United States history When the leviathan was finally born of a merger between the Pennsylvania and New York Central Railroads on February 1, 1968, the event was hailed as a great day for railroading But the baby giant survived only 367 days The crash of the Penn Central set a new record, this time for the largest bankruptcy the United States had ever seenThe Wreck of the Penn Central provides a close up view of the events that brought the Big Train to bankruptcy court over regulation, subsidized competition, big labor featherbedding, greed, corporate back stabbing, stunning incompetence, and, yes, even a little sex. New Download [ The Wreck of the Penn Central ] author [ Joseph R. Daughen ] – kino-fada.fr Somehow this book was a lot drier than I had anticipated, which is disappointing It is, however interesting to see what has transpired in American railroading since the publication of this book and how some things happening today aren t that much different than what happened back then.A very good book at providing an overview of the rail business Two important points illustrated First there was a tremendous change in the rail business that was hamstrung by Federal regulation Second, a robust rail business in an area requires robust basic manufacturing...This book partially counters David Bevan s viewpoint and lays blame for the Penn Central failure as substantially due to Bevan s and Saunders willingness to obscure the financial health of the PRR and subsequent PC behind the maze of non rail corporate entities.A must read for anyone in corporate America How to destroy a whole industry by greed and mismanagement

The Wreck of the Penn Central
  • English
  • 12 December 2018
  • Paperback
  • 380 pages
  • 1893122085
  • Joseph R. Daughen
  • The Wreck of the Penn Central