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They were from two different railroads. Pennsylvania Station was from the Pennsylvania Railroad, Grand Central from the New York Central. They merged in 1968 to
by gaadd33 10y ago
They were from two different railroads. Pennsylvania Station was from the Pennsylvania Railroad, Grand Central from the New York Central. They merged in 1968 to try and save both of railroads but it ended up not helping.
- Aloha 10y agoThe creation of the PennCentral was probably the most ill thought out merger in US history - but the regulation climate at the time wouldnt have allowed them to seek out a more rational merger partner (like an end to end merger with the likes of the CB&Q or GN) - also mergers took forever because of ICC forbearance - which mean the merger took 6-7 years to complete, and the perennially bankrupt New Haven was shotgunned in at the last moment - In short, failure was all but a foregone conclusion - but given the nature of the market that the time, there was but little choice to proceed. The railroads are an example of how excessive regulation can almost kill an industry - even the UP came mighty close to bankruptcy before deregulation.
- ghaff 10y agoI knew that Penn Central was a massive bankruptcy but I never really looked into the whole history. I should read up on it when I get a chance. Any particular histories of railroads in the US you'd recommend? (I'm probably not interested enough to read one of the books specifically on the Penn Central.)
- Aloha 10y agohttps://www.amazon.com/Wreck-Penn-Central-Joseph-Daughen/dp/0316095206/ https://www.amazon.com/Wreck-Penn-Central-Joseph-Daughen/dp/... https://www.amazon.com/Men-Who-Loved-Trains-Railroads/dp/0253220319/ https://www.amazon.com/Men-Who-Loved-Trains-Railroads/dp/025... I've read the first two - I also plan on reading: https://www.amazon.com/Merging-Lines-American-Railoads-1900-1970/dp/0875807356/ https://www.amazon.com/Merging-Lines-American-Railoads-1900-... and https://www.amazon.com/gp/product/0875803164 https://www.amazon.com/gp/product/0875803164 You might also check out the 3 part history of the Union Pacific by Maury Klein. https://www.amazon.com/Maury-Klein/e/B000APV4NC/ https://www.amazon.com/Maury-Klein/e/B000APV4NC/