NH was short term failure. long term success-
New Haven Merger Opens way to Profitable operations - i.e. North east Corridor (NEC)
Although the New Haven merger was negotiated as part of the PC merger and forced in on January 1st it appears from the bankruptcy, and the NH additions to the red ink, that the NH idea was a bad one. In fact history would demonstrate that it was a good idea.
Since the PC was the largest merger in history (through 1968) no one imagined how long it would take to align and merge these unprecedented large companies. Con Rail which emerged would become one of the most profitable and successful merged railroads in history. Further, the NEC remains in a strong positive cash flow position and subsidizes Amtrak's otherwise negative cash position.
Frank C. Perrin CPA MPA
Perrin Accounting, P.C.
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North East, Maryland 21901
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