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Why did Penn Central fail?
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Couple of quick "fact checks" on later posts: Saunders, not Perlman, came to Pennsy from N&W. Perlman came from Rio Grande. NYC was "Green Team" not blue. (Pardon, but my loyalties are showing!) <br /> <br />A wise man once said, "It takes a long time to kill a railroad." Generally true, to wit, Rock Island, Katy, SP, New Haven, Lackawana, et al. But Saunders did it in three months. Not "the public," not regulation, not competition, not even labor. No, the word is "hubris." The railroads could have been run independently and gradually integrated, as were C&O/B&O. Nothing in the economic, regulatory, or competitive environment changed so radically in just one year that the failure was unavoidable. Remember, 1966 was the best year the industry had experienced since WWII.
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