Railroad Bankruptcies
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Author |
: Howard H. Lewis |
Publisher |
: Indiana University Press |
Total Pages |
: 158 |
Release |
: 2016-01-04 |
ISBN-10 |
: 9780253018717 |
ISBN-13 |
: 0253018714 |
Rating |
: 4/5 (17 Downloads) |
Synopsis Derailed by Bankruptcy by : Howard H. Lewis
The behind-the-scenes story of the five-year legal battle over a railroad bankruptcy and the formation of Conrail, as told by a lawyer on the case. What happened when the US government stopped investing in railroads and started investing in highways and air travel? By the late 1970s, six major eastern railroads had declared bankruptcy. Although he didn’t like trains, Howard H. Lewis became the primary lawyer for the Reading Railroad during its legendary bankruptcy case. Here, Lewis provides a frank account of the high-intensity litigation and courtroom battles over the US government’s proposal to form Conrail out of the six bankrupt railroads, which meant taking the Reading’s property, leaving the railroad to prove its worth. After five grueling years, the case was ultimately settled for $186 million—three times the original offer from the US government—and Lewis became known as a champion defender of both the railroad industry and its assets. “Should be required reading in every law school, especially for students who aspire to become corporate attorneys . . . valuable insights into the creation of Conrail.” —Rush Loving, Jr., author of The Men Who Loved Trains “For the railfan, you’ll receive an insider view of this historically important period and a better understanding of how and why Conrail came into being and what it meant for rail transportation.” —Model Railroad News
Author |
: United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Surface Transportation |
Publisher |
: |
Total Pages |
: 78 |
Release |
: 1978 |
ISBN-10 |
: STANFORD:36105045203655 |
ISBN-13 |
: |
Rating |
: 4/5 (55 Downloads) |
Synopsis Railroad Bankruptcies by : United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Surface Transportation
Author |
: United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Surface Transportation |
Publisher |
: |
Total Pages |
: 88 |
Release |
: 1978 |
ISBN-10 |
: LOC:00171218196 |
ISBN-13 |
: |
Rating |
: 4/5 (96 Downloads) |
Synopsis Railroad Bankruptcies by : United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Surface Transportation
Author |
: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Transportation and Commerce |
Publisher |
: |
Total Pages |
: 152 |
Release |
: 1978 |
ISBN-10 |
: LOC:00183872898 |
ISBN-13 |
: |
Rating |
: 4/5 (98 Downloads) |
Synopsis Milwaukee Railroad Bankruptcy by : United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Transportation and Commerce
Author |
: Michael Conant |
Publisher |
: JAI Press |
Total Pages |
: 0 |
Release |
: 2004-02-12 |
ISBN-10 |
: 0762310790 |
ISBN-13 |
: 9780762310791 |
Rating |
: 4/5 (90 Downloads) |
Synopsis Railroad Bankruptcies and Mergers from Chicago West: 1975-2001 by : Michael Conant
Two major U.S. Midwestern railroads, the Rock Island Lines and the Milwauke Road, filed for bankruptcy after 1975 and the Court ordered them dismembered. This study explains the economic factors causing financial failure such as total rail line excess capacity in the region leading to low density of freight traffic; in addition, labor union rules required unnecessary large train crews. The regulations of the Interstate Commerce Commission aggravated the economic problems by limiting rail line abandonments and mergers designed to improve efficiency. Congress passed the Staggers Act in 1980 to correct a large part of the regulatory limitations to efficient reorganization of the U.S. rail system, but it was too late to save the Rock Island and the Milwaukee Road. The later chapters are economic analyses of the more recent mergers of the large railroads from the Mississippi River to the Pacific Coast. A key saving resulted from the court ruling that segments of rail line could be sold to new short-line railroads without the selling carrier having to pay special compensation to rail workers who were discharged. The Illinois Central Railroad was a prime example of a carrier that sold almost all of its branch lines. Great efficiencies in operations were realized as the Union Pacific acquired the Missouri Pacific and the Southern Pacific. Comparable efficiencies were realized by the Burlington Northern acquisitions of the St. Louis-San Francisco and the Atchison, Topeka & Santa Fe.
Author |
: United States. Congress. House. Committee on the Judiciary |
Publisher |
: |
Total Pages |
: 28 |
Release |
: 1935 |
ISBN-10 |
: UOM:35112203523867 |
ISBN-13 |
: |
Rating |
: 4/5 (67 Downloads) |
Synopsis Reorganization of Railroads Under the Bankruptcy Act by : United States. Congress. House. Committee on the Judiciary
Author |
: United States. Congress. House. Committee on the Judiciary |
Publisher |
: |
Total Pages |
: 100 |
Release |
: 1939 |
ISBN-10 |
: IND:30000090797741 |
ISBN-13 |
: |
Rating |
: 4/5 (41 Downloads) |
Synopsis Voluntary Adjustment of Railroad Obligations by : United States. Congress. House. Committee on the Judiciary
Author |
: United States. Congress. House. Committee on the Judiciary |
Publisher |
: |
Total Pages |
: 294 |
Release |
: 1939 |
ISBN-10 |
: MINN:31951D019595825 |
ISBN-13 |
: |
Rating |
: 4/5 (25 Downloads) |
Synopsis Railroad Reorganization by : United States. Congress. House. Committee on the Judiciary
Author |
: United States. Congress. House. Committee on the Judiciary |
Publisher |
: |
Total Pages |
: 118 |
Release |
: 1938 |
ISBN-10 |
: STANFORD:36105045462343 |
ISBN-13 |
: |
Rating |
: 4/5 (43 Downloads) |
Synopsis Railroad Reorganization by : United States. Congress. House. Committee on the Judiciary
Author |
: United States. Congress. House. Committee on the Judiciary. Special Subcommittee on Bankruptcy and Reorganization |
Publisher |
: |
Total Pages |
: 378 |
Release |
: 1943 |
ISBN-10 |
: MINN:31951D02092163J |
ISBN-13 |
: |
Rating |
: 4/5 (3J Downloads) |
Synopsis Railroad Reorganization by : United States. Congress. House. Committee on the Judiciary. Special Subcommittee on Bankruptcy and Reorganization
Committee Serial No. 9.