The Wreck of the Penn Central
| Author | : | |
| Rating | : | 4.11 (973 Votes) |
| Asin | : | 1893122085 |
| Format Type | : | paperback |
| Number of Pages | : | 380 Pages |
| Publish Date | : | 2016-12-20 |
| Language | : | English |
DESCRIPTION:
It took ten years of laborious planning and exhaustive negotiations to create the mammoth Penn Central Railroad, the largest railroad in United States history. "The 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.. 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 seen
. But the baby giant survived only 867 days. The crash of the Penn Central set a new record, this time for the largest bankruptcy the United States had yet seen. From the Publisher It took ten years of laborious planning and extensive 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
"Great Overview of How the Penn Central Was Formed and Ultimately Failed" according to S. Fox. This might be dry if you aren't interested in how the Penn Central was formed and why it ultimately failed as a business. If you are a rail fan you will find it a good read. It goes into detail on both the personalities and conflicting motivations of those involved as well as the poor business planning by and borderline illegal actions of some of the players. The book is a bit dated but it does cover the Penn Central up to its fall as well as the feeder railroads whose US government mandated inclusion contributed to the failure. I immensely enjoyed this book and found it to be comprehensive and interesting. If you. Kris said Before Enron there was Penn Central. This book details the terrible financial disaster that was the Penn Central, the merger of nearly-bankrupt Pennsylvania Railroad and the New York Central. It deals with the conditions that caused the merger, the merger itself, and the borderline fraudulent financial tactics repeated by Enron almost thirty years later.Enron would not have happened if the SEC was paying attention.This book is out of print and really hard to find. I recommend you get Rush Loving's "The Men Who Loved Trains" which deals with most of this book's subject along with the creation and breakup of Conrail. In fact, Rush Loving's book cites T. Emily Stowe said The book is in great condition considering its used. The book is in great condition considering its used. It was a gift and the person who received it has been wanting to read it for a long time. He was thrilled and happy with it.