The Wreck of the Penn Central

Rating:
Summary: Who killed the Giant?
Review: Simply put, a fantastic historical business book outlining the history of the Pennsylvania and New York Central Railroads, the bohemoth merger, and ultimate demise. Each chapter was crafted in a way to allow the reader to easily grasp the brick wall that the Penn Central was headed towards. The author presents a myriad of facts/figures, allowing the reader to draw his/her own conclusion.

If you enjoy learning about potential pitfalls which could threaten your business, there is little that the PC railroad did not face following its merger. I typically like to learn the mistakes of others and there are plenty of lessons to be had in this book (corporate communications, governance, high finance, strategy and the so on).

BTW -- after reading the book my conclusion is that the company lacked leadership, a strong strategy, a competitive product, and was handcuffed by needless government agencies and regulations. Further, if there was true leadership coming from the railroad, and if the government was at all interested in "leveling the playing field" in comparison to the airline and trucking industry subsidies, this country would still have an extensive and viable freight railroad system. Just my two cents.

Rating:
Summary: Who killed the Giant?
Review: Simply put, a fantastic historical business book outlining the history of the Pennsylvania and New York Central Railroads, the bohemoth merger, and ultimate demise. Each chapter was crafted in a way to allow the reader to easily grasp the brick wall that the Penn Central was headed towards. The author presents a myriad of facts/figures, allowing the reader to draw his/her own conclusion.

If you enjoy learning about potential pitfalls which could threaten your business, there is little that the PC railroad did not face following its merger. I typically like to learn the mistakes of others and there are plenty of lessons to be had in this book (corporate communications, governance, high finance, strategy and the so on).

BTW -- after reading the book my conclusion is that the company lacked leadership, a strong strategy, a competitive product, and was handcuffed by needless government agencies and regulations. Further, if there was true leadership coming from the railroad, and if the government was at all interested in "leveling the playing field" in comparison to the airline and trucking industry subsidies, this country would still have an extensive and viable freight railroad system. Just my two cents.

Rating:
Summary: Railroad history told at its best
Review: The author makes this interesting chapter in railroad history even more interesting. After I read this book I looked for more on this subject. This book is still one of the best if not the best on the Penn Central.

Rating:
Summary: Excellent read!
Review: The Penn Central was the failed attempt at combining the storied Pennsylvania Railroad and the historic New York Central Railroad -- both major lines in the Northeast United States -- during a period of time in which all railroads were suffering under strict and burdensome government regulation and the obligation to carry passenger traffic. The wreck of the Penn Central led to Conrail, Amtrak, and, in many ways, the railroad industry we have today. This book is an insightful, on the ground view of the creation and destruction of the company. Very readable for railroad historian, business historian, or simply by one who enjoys a good read.