Penn Central transportation company merger ends in financial disaster

Penn Central transportation company merger ends in financial disaster

The Penn Central Transportation Company, commonly known as Penn Central, was headquartered in Philadelphia, Pennsylvania and operated from 1968 until 1976. It was created by the 1968 merger of the Pennsylvania and New York Central railroad companies. By 1970 however, the company had filed for what was at the time, the largest corporate bankruptcy in…

Business Blunders , ,