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Re: PC: PC (Sort of) Suing Amtrak
- Subject: Re: PC: PC (Sort of) Suing Amtrak
- From: nh370@xxxxxxxxxxx
- Date: Thu, 11 Dec 2008 12:07:20 +0000
> 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."
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