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Mid-20th-Century Mergers |
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Mid-20th-Century MergersNumerous large mergers occurred in the United States beginning in the 1960s. In 1968, the Pennsylvania and New York Central railroads combined to form the Penn Central, to which was later added the New York, New Haven, and Hartford railroad. The Penn Central declared bankruptcy in 1970. In 1976, it and other failed railroads in the Northeast—including the Erie Lackawanna, Lehigh Valley, and Reading—were merged by an act of Congress to form the Consolidated Rail Corporation (Conrail). In 1970, the Great Northern, Northern Pacific, and Burlington merged into Burlington Northern (BN); later, BN absorbed the St. Louis-San Francisco (Frisco) Railroad, becoming the Burlington Northern Santa Fe. The Chesapeake & Ohio, Baltimore & Ohio, and Western Maryland railroads became affiliated into the Chessie System (Mid-20th-Century Mergers). In 1981 Chessie merged with the Family Lines—a combination of the Seaboard Coast Line, Louisville & Nashville, and Clinchfield—to form CSX Corporation. In 1996 the U.S. government approved the merger of the Union Pacific and the Southern Pacific railroads, and in the late 1990s Conrail’s lines were split between CSX and the Norfolk Southern (Mid-20th-Century Mergers). Mid-20th-Century Mergers |
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Mid-20th-Century Mergers |
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GOVERNMENT REGULATION OF RAILROADS: • INTRODUCTION • STATE REGULATION • FEDERAL REGULATION • EARLY 20TH-CENTURY REGULATION • THE DEPRESSION YEARS • POSTWAR ENACTMENTS • DEREGULATION MOVEMENTS |
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