Re: (erielack) EL vs. PC

["J. Henry Priebe Jr." <root_@_net.bluemoon.net>]

I read that book a few weeks ago. While there wasn't much about the EL in it,
I did enjoy it very much. It clarifies and corrects many things touched upon
in "The Wreck of the Penn Central."  It's a pretty fast read.

Henry

J. Henry Priebe Jr.    Blue Moon Internet Corp Network Administrator
www.bluemoon.net       Internet Access & Web Hosting
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On Sun, 8 Oct 2006, Tim Stuy wrote:

> While not as detailed a history of the PC, I think anyone interested in how
> PC came about and we ended up at today's eastern system, you should read
> Rush Loving's new book, "The Men Who Loved Trains".
> 
> Tim
> 
> On 10/8/06, Paul Brezicki <doctorpb_@_bellsouth.net> wrote:
> >
> > It's been a long time since I read "The Wreck of the PC", but I seem to
> > recall a claim that PC chairman Stu Saunders (ex-PRR, of course) believed
> > that jumbo jets would eventually take all the RR's long distance traffic,
> > including coal ! I don't know whether or not this was true, but high-level
> > management brilliance and commitment was in short supply at that outfit.
> > Those interested in the PC fall will want to look at "Penn Central RR" by
> > Peter Lynch. This book is much more focused on the operational side and I
> > recommend it.
> >
> > Gary is correct, PC's collapse weakened the entire industry, including
> > RR's like EL that were primarily competitors, since so much traffic was
> > interline. The revenue shortfalls tended to outweigh the benefits of traffic
> > diversion.
> >
> > Paul B
> >
> > "Wreck of the Penn Central" is a very good read overall but it does
> > go  heavy
> > on the details. Sparse mentions of EL, mostly regarding
> > possible  pre-merger
> > line ups, i.e., DL&W-NKP, etc.
> >
> > Rick
> >
> > - --- Fred  Stratton <erief7_@_msn.com> wrote:
> > > Keep in mind when talking about  the EL and PC, it took the EL 16
> > > years to fall while it took the PC  only 872 days. Much of the EL's
> > > financial woes were not the  mismanagement of money, although at
> > > times some practices were  questionable. However the fall of the PC
> > > in part involved not puting  finances back into the physical plant.
> > > This is verified in the book "  wreck of the Penn Central." They
> > > were more interested in other  ventures and let the RR go to H _ _ _
> > > in a handbasket.
> >
> > Once PC  declared bankruptcy, they were 'protected'.  They didn't have
> > to pay  their past bills from other railroads until the courts sorted
> > things  out.  Going forward, they could delay paying demurrage, etc,
> > yet  demand the other lines pay them on time.  This sucked most of the
> > cash  out of the other lines in the northeast, one of the major
> > reasons for the  EL, Reading, CNJ, LV, and L&H all going under.
> >
> > Gary R.  Kazin
> > DL&W Milepost R35.7
> > Rockaway, New  Jersey
> >
> >
> >
> >
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> >         http://www.elhts.org
> >
> 
> 
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J. Henry Priebe Jr.    Blue Moon Internet Corp Network Administrator
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