Re: PC: It was a bad move anyway?!?

["Jim Kosty" <j_kosty@xxxxxxxxxxx>]

Larry,
Yes, I understand it was misappropriated funds, too much Buckeye Pipeline, 
Great Southwest Corporation, Arvada Corporation, a hockey team in NY, and 
Executive Jet Company - all this diversification and the deferred 
maintenance - add to that the unwillingness to mesh the two "cultures" in 
management, that put PC under.  They had not the benefit of billions of 
dollars of government loans to make it all happen as Conrail did, and the 
regulatory environment was all messed up compared to post - Staggers era 
railroading.
I read "Wreck of the Penn Central" from cover to cover, did a 22 page 
research paper in 12th Grade high school on the matter, and also am a former 
railroad employee myself.  My experience with railroading tells me at times 
it's a well - oiled machine, and at other times nobody has the slightest 
idea of why things are done the way they are.  Although some of the reasons 
people cited for the failure of PC may have not been the main cause or 
effect, these remarks nonetheless all seemed valid based as part of the 
cause.
Jim Kosty
>From: larryzong -AT- webtv.net (Larry Zong)
>Reply-To: penn-central -AT- smellycat.com
>To: penn-central -AT- smellycat.com
>Subject: Re: PC: It was a bad move anyway?!?
>Date: Fri, 14 Apr 2000 18:54:18 -0400 (EDT)
>
>since i am a former prr pc and conrail employee now of the info you are
>stating is not what really happened. i agree it was probably a bad
>marriage but from what i have been reading in this back and forth
>messages i have been reading is far from the truth. you had better talk
>to some former employees in the upper echleon and try to figure out the
>truth. one reason it was to diversified. 4 hotels in new york and an
>airline that drained the money and not enough money was being put back
>in the plant. also there were to many employees and they had to be
>severed.
>i could go on and on. the red and green didnt mix as it should have.
>conrail must have been doing a good job because the stock split about
>three times. at about 115 when it was pulled from the stock exchange.
>all you people should do a lot of homework before you know the truth.
>  the 2 computers were not interchangeable at the time and a new computer
>system had to be established.
>i could keep going on and on but do your homework and yoou will see what
>really happened.
>i remain larry e zong.
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