Penn Central 1974 - Movie used to convince Congress to provi

This movie was produced in 1974 by the Penn Central, the bankrupt railroad produced in the merger of the Pennsylvania Railroad and the New York Central Railroad. It was the first failed stop on the process that led to the successful federal intervention in the Northeast/Midwest rail crisis in the 1970s that led to the creation of Consolidated Rail Corporation, which was ultimately made profitable and privatized in 1987.This digital rendering of the movie is Copyright ©2009 Lubetkin Communications LLC. All rights reserved. Unauthorized use, reposting or copying without written permission is strictly prohibited.

Category:

News & Politics

Tags:

• conrail
• railroad
• penn central
• bankruptcy
• 1974

[RockIsland652]

@RockIsland652 So now you have not enough traffic, too much track, and too many employees. You can do basically nothing about it except watch the money fly out the door.

The criminal thing was what Saunders & Co did to their bankers and PC stockholders, insisting that everything is fine and there are no issues all while PC was imploding.

[TrainNut85]

For those that watch this I suggest reading the book "The Wreck of the Penn Central", this video is only part of the reason why PC failed as a railroad, its called bad management that didn't handle the money well plus other scandals as well!

[zmanbeachcomber]

i started with pc back in nyc in 1974 i worked at sunnyside yard long island city. the old gg1 locomotives were real workhorses. then in 1976 amtrak took over. i retired december of 2011 after 37 years of railroading. worked with a great bunch of people. learned a lot also. that railroading has to be something you like. its not for everyone. its like being in the military.if you cannot take orders its not for you. tony z. retired car inspecter

[Downriverboys1]

The old Penn Central. Was a great railroad. Intill the last few years

[arkie74]

the penn back in 74 is kinda like the condition the country is in now.......jus sayin

Ron Paul 2012!!

[BlackWolfessUSCM]

It's funny, I am facisinated with the Penn Central because of the Wreck it became.

[RMSTitanicWSL]

@RockIsland652 Which only proves democracy is as much a disaster as monarchy, fascism, communism, or any other form of government you might care to invent. It requires the "right" people--not only among those who govern, but among those who are governed. Truman was the last useful president we had. (note I don't say good) for government and politics to work, responsibility and power must be equal and coordinate--this does not get you "good" government--it just gets you government that works.

[RockIsland652]

@RMSTitanicWSL Yes. They don't pick modes based on efficiency, just expediency and rewarding cronies.

[RMSTitanicWSL]

@RockIsland652 I would, seeing as I've copies of the reports and other references in my library. Transportation economics has always been a hobby of mine. Railroad property and income taxes were also subject to similiar misuse. It's why I consider our tranportation policy communistic at best.

[RockIsland652]

@RMSTitanicWSL Ageed. I don't think that Ike knew what a financial disaster the interstate system would become.

Would you believe that the RR passengers had a tax put on them to pay for airport construction? Sad, unbelievable and entirely true.

[RMSTitanicWSL]

You would have had to go back to 1956 and warn Eisenhower what a huge economic, social, and eclological mistake the Interstate Highway Bill would prove to be, for starters.

[RMSTitanicWSL]

@RockIsland652 You would have had to go back to 1956 and convince Eisenhower what a huge social, economic, and environmental error the Interstate Highway Bill would prove to be, and persuade state and local governments not to tax railroads excessively.