Word: perlman
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...story says that I had a "tough time persuading" Alfred E. Perlman, president of the New York Central, that the merger "would be a good deal for both companies." I did not join the Pennsylvania until October 1963, and did not participate in negotiations leading to the merger proposal filed with the Interstate Commerce Commission in March...
...article also states that "Perlman and the Central had said that they would not take the New Haven under any circumstances." So far as I know, neither Mr. Perlman nor his associates at the Central ever took such a position. I regard Mr. Perlman as one of the outstanding railroad executives in the country, and I have the highest admiration for him. He has done a splendid job in revitalizing the New York Central. I am confident that we will work together as a team to make the Penn Central a truly great transportation system...
...your account of the Penn Central merger there is an inference that the New York Central management, and Mr. Perlman in particular, were reluctant partners. This is not the fact...
...York Central since 1959, I was named by my colleagues in November 1961 to serve as chairman of the committee of the board to negotiate the terms of the merger. These negotiations came about as a result of a telephone call in the fall of 1961 from Mr. Perlman to Mr. James M. Symes, then chairman of the board of the Pennsylvania Railroad, suggesting that the then suspended merger study between the two railroads be resumed. To this suggestion Mr. Symes agreed, and board committees were formed to negotiate the terms. The activities of Mr. Perlman throughout the lengthy hearings...
...feet over the mountains of western Pennsylvania. Connecting links between Pennsy and New York Central tracks are being rushed at Toledo, Grand Rapids, Cincinnati, Terre Haute, Chicago, Buffalo and Detroit. Freight yards at Cleveland and Indianapolis will be modernized, and an entire new yard-to be named after Perlman-is being built at Albany. The basic idea is to take advantage of the savings that through-freight operations can provide. "The speed factor is vital," says Perlman. "If goods are in transit for four days, someone has to have them on the books for four days. Any reduction in time...