Re: PC: PC (Sort of) Suing Amtrak

[nh370@xxxxxxxxxxx]

> The Penn Central -- yet another example of an almost corruptly run company that 
> had to be bailed out by the taxpayers.

I don't recall any direct taxpayer bailout. The formation of Amtrak "cost" Penn Central 
it's passenger biz, but at least there was an actual exchange of tangible assets that 
would benefit the taxpayer.

No doubt there was a lot af shady dealing going on within the company, but the real 
reasons PC died was that it had to operate under oppressive government and union 
regulation. They couldn't consolidate duplicate routes, they were bound by full crew 
laws and could not abandon unprofitable lines.

Far too many of the same reasons GM, Ford and Chrysler are dieing today.
 
> Read the book, "The Wreck of the Penn Central"!

Also read "No Way to Run a Railroad" and "The Fallen Colossus."

Gene