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Re: PC: RE: Re: Why no money?
- Subject: Re: PC: RE: Re: Why no money?
- From: "Chris Osterhus" <su_carbs@xxxxxxxxxxx>
- Date: Mon, 19 Mar 2001 16:40:43
>As for the diversification moves, they would have made sense if the net
>revenues were used to help the parent rail operation. I suspect that >any
>such revenues instead helped cover the stock dividends (see >above). If
> >the non-rail investments didn't make money, it only >compounds the
> >general view of PC executives.
They got greedy, and over-diversified. For example, what business did a
railroad have in owning part of a hockey team? EJA and Penphil are two
others that come to mind...
>[By the way, and off-topic, the FRA created a new class of track >condition
>-"Exempt" - to describe and regulate the derelict former PC >track spun off
>to short lines in the 1970s.]
I hear ya on that one! I remember the PC trains wobbling thru Waynesburg, PA
on the Monongahela from the late 70s, until CR came along, and upgraded the
Also, what about the large purchases of locomotives? Why did they purchase
new engines, and not take care of the ones they had?
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