Between 1970 and 1997, the nation's railroads engaged in corporate mergers in an effort to stem the decline of the industry's market base, increase low return on investments, and counter the deterioration of trackage and equipment. The 73 Class I carriers in existence in 1970 have been consolidated into only 10 today. The recent battle over Conrail is only the most recent and highly publicized example of this trend that resulted from the relaxation of federal regulation. Business scholars, economists, railroad buffs, and anyone interested in transportation and federal regulation will find this book an invaluable tool.
About the Author
JAMES B. BURNS taught in the History Departments of the University of Maryland, Mississippi State University, Catonsville Community College, and Essex Community College.
Table of Contents
Legacy of Merger
The Financial Imbroglio: Impetus for Change
The Federal Initiative: Tale of Consolidation
Private Sector Combinations: Assessing Rationalization
Rise of the Eastern Giants
Mastadons of the West
Railroad Holding Companies: Keys to Diversification
The New Railroads: Toward the 21st Century
Conclusion: A Universal Language
Appendix A: Maps of Railroad Lines
Appendix B: Flow Charts of Railroad Corporate Structures