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The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American class I railroad that operated from 1968 to 1976.
American railroad company Penn Central Transportation Company declared bankruptcy on June 21, 1970, two and a half years after its formation by the merger of the New York Central Railroad and the Pennsylvania Railroad. At the time, this was the largest bankruptcy in American history.
Feb 1, 2024 · Penn Central, officially known as the Penn Central Transportation Company, spawned the modern-day mega railroad although the ill-fated system also marked the industry's low point. When the PC collapsed in 1970 it began a long decade of uncertainty, leaving many to wonder if the railroad was an obsolete mode of transportation.
In 1978 the Penn Central Transportation Company, which had been responsible for railroad operations, was reorganized again, this time as a general holding company with subsidiaries in real estate and manufacture.
Penn Central Transportation Co. Archives (Penn Central Transportation Co. was the railroad company subsidiary of Penn Central Co. After its bankruptcy and reorganization, non-railroad assets were conveyed to Penn Central Corp., which was succeeded by American Premiere Underwriters, Inc., and Great American Insurance Co./American Financial Group)
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Penn Central Transportation Company. 5,795 likes · 420 talking about this. PENN CENTRAL won the railroad industry's race to the bottom 50 years ago. Now we're back.