IS IT ENDSVILLE FOR THE RAILROADS?
This article, written prior to the Penn Central bankruptcy, states that during most of the Sixties, things seemed to be improving for the railroads. Mergers, a new rate making strategy, and piggyback seemed to be the prescription. But, by the end of the decade hope had given way to pessimism. Nationalization is being talked about. The railroads position has deteriorated alarmingly in the last three years. A serious problem is the labor intensiveness of the industry, and the unions stubborn refusal to let management benefit from new technology. The passenger deficit has soared (prior to Amtrak). The merger movement was in trouble, piggyback had gone slack, and the investment credit had been ended. The fate of the railroads lies in the hands of government, labor, and the courts. Abandoments are likely to be more difficult in the future, and the railroads have started losing market share. Rail service has been bad, and the service problem is very serious. Many industry executives are pinning their hopes on the new automatic car identification. A railroad's fortunes are basically determined by the territory it serves.
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Forbes Incorporated60 Fifth Avenue
New York, NY United States 10011
- Publication Date: 1969-10-15
- Pagination: p. 30-40
- Publisher: Forbes Incorporated
- ISSN: 0015-6914
- TRT Terms: Automatic car identification; Bankruptcy; Commuter service; Industry structure; Labor relations; Nationalization; Subsidies
- Subject Areas: Administration and Management; Finance; Passenger Transportation; Railroads;
- Accession Number: 00047984
- Record Type: Publication
- Files: TRIS
- Created Date: Dec 13 1974 12:00AM