Word: railroads
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...article also states that "Perlman and the Central had said that they would not take the New Haven under any circumstances." So far as I know, neither Mr. Perlman nor his associates at the Central ever took such a position. I regard Mr. Perlman as one of the outstanding railroad executives in the country, and I have the highest admiration for him. He has done a splendid job in revitalizing the New York Central. I am confident that we will work together as a team to make the Penn Central a truly great transportation system...
Pennsylvania Railroad...
...serve as chairman of the committee of the board to negotiate the terms of the merger. These negotiations came about as a result of a telephone call in the fall of 1961 from Mr. Perlman to Mr. James M. Symes, then chairman of the board of the Pennsylvania Railroad, suggesting that the then suspended merger study between the two railroads be resumed. To this suggestion Mr. Symes agreed, and board committees were formed to negotiate the terms. The activities of Mr. Perlman throughout the lengthy hearings to which your article refers belie the "reluctance" you attribute...
...young company organized to provide charter service to businessmen. Among other advantages, Executive Jet gives the Pennsy a foothold in aviation and a start toward what Saunders calls a "total transportation company." For such investments the Pennsy has a large kitty. From its sale of the Long Island Railroad to New York State in 1966, and from the gradual disposal of its shares in the N. & W. and its 98.5% interest in the Wabash, the Pennsy had about $500 million to spend, still has around $107 million unallocated. "We are," says Saunders with some understatement, "in a rather unique position...
Computers and the men necessary to run them have nourished a new breed of railroaders-management experts with wide-ranging interests. And they, in turn, have fueled the railroads' drive to diversify-if the Government eases up-into related areas of transportation. The Missouri Pacific, which already owns two truck lines extending 17,000 miles, last week applied to the CAB for permission to start an air-freight service. Says W. Graham Claytor Jr., new president of the Southern: "The railroads must press hard for the right to sell transportation, not railroad service. Then they must supply...