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RE: PC: RE: Re: Why no money?
- Subject: RE: PC: RE: Re: Why no money?
- From: "Thatcher, Bob" <Thatcheb@xxxxxxxxxxxxxx>
- Date: Tue, 20 Mar 2001 10:00:29 -0500
Even on a sinking ship, a concrete lifesaver isn't going to help much.
Gluing two massive, money-losing, inefficient operations together (then
adding a third), without any way to make needed changes, is no improvement.
While PC management probably did what it thought was the best under trying
circumstances, there have also been many cases of railroads going bankrupt,
getting reorganized, and emerging a healthier business. A lot depends on
how sharp the trustee is. In hindsight, perhaps it would have been better
for PRR and NYC to individually file for bankruptcy and let the trustees
work out the reorganizations.
I wonder what John Barriger would have done?
"...PRR + NYC was all that they left, and when you only have one chance to
escape a sinking ship you try that one chance...."
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