by Matt Langworthy
Respectfully, Leo, I disagree. Many of the problems you cite also affected the other Conrail predecessors, as well as Penn Central. The key differentiator at Penn Central was the devious Sanders management team, which funneled PC's revenue into a variety of business endeavors but put very little money back into the physical plant itself. Penn Central was also paying dividends at the same time it was getting loans to float its operations. Those were factors that made Penn Central the Enron of its era. Celebrate fiscal malfeasance? I think not!
This shouldn't be construed as a shot against Penn Central's employees. I'm sure most of them worked just as hard as the employees on other RRs at the time. That being said, Penn Central's notorious business practices will overshadow anything else we remember about that railroad.
This shouldn't be construed as a shot against Penn Central's employees. I'm sure most of them worked just as hard as the employees on other RRs at the time. That being said, Penn Central's notorious business practices will overshadow anything else we remember about that railroad.
Matt Langworthy
"It is highly likely that the 1990s were an overrated decade."
"It is highly likely that the 1990s were an overrated decade."