THE WRECK OF THE PENN CENTRAL
The merger that formed the nation's largest railroad was followed by the nation's largest bankruptcy. This book examines the Penn Central situation from merger through bankruptcy. Written by two reporters from the Philadelphia Bulletin, the book covers the merger, some of the history of the two railroads prior to the merger, the planning of the merger, and some of the opposition to the merger. It also covers the Red Team and Green Team situation, the passenger and commuter problems, the financial ventures of some company officers, and the diversification program of the company. It further covers the freight transportation, union work rules, and bad weather problems suffered by the company. Finally, the book covers the last desperate efforts to avoid bankruptcy through private, and then government guaranteed, loans. In the last chapter, the book concludes that the merger could not have worked because it faced too many disadvantages.
Little Brown34 Beacon Street
Boston, MA USA 02106
- Daugen, J R
- Binzen, P
- Publication Date: 1971
- Pagination: 365 p.
- TRT Terms: Bankruptcy; Conglomerates; Diversification; Management; Mergers
- Identifier Terms: Penn Central Transportation Company
- Subject Areas: Administration and Management; Finance; Railroads;
- Accession Number: 00041226
- Record Type: Publication
- Files: TRIS
- Created Date: Apr 2 1974 12:00AM