Word: perlman
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...railroads, New York Central President Alfred Perlman once explained that for years they had endured the lash of critics who "thought the industry was like the dodo bird-with its head where its tail feathers ought to be." Until recently, the critics seemed to be right. Standpat thinking smothered rail progress for most of the first four decades of the century, while autos, trucks and air travel nibbled away at the railroads' markets. Belatedly realizing that one track that led to greater efficiency was merger, the railroads since 1956 have persuaded the Interstate Commerce Commission to approve 26 mergers...
...Twentieth Century, whose 80-man crew now often outnumbers passengers, approached last week when New York Central President Alfred E. Perlman announced plans to abandon, starting Jan. 1, all passenger routes of over 200 miles...
...place of the great old trains and of its other long-haul passenger runs, the New York Central plans to start swift, spartan (no club cars) daytime shuttle service between some 80 cities along its 10,000-mile system. This, said Perlman, will "best serve the needs of the traveling public"-not to mention the Central's balance sheet...
...Ohio, at a U.S. rail record of 184 m.p.h. The test indicated that with existing technology and only minor changes in roadbeds, U.S. passenger trains can easily reach the 125-m.p.h. speed at which experts say railroads can profitably compete with airlines for the short-haul passenger trade. Said Perlman, 63, who acted as "copilot" on the run: "The future of rail passenger services now hinges on the economic and marketing aspects of the business...
...Pennsy Chairman Stuart Saunders, 56, a Harvard-educated lawyer who started the rail industry's merger marathon a decade ago as boss of the Norfolk & Western, which he arranged to unite with four other roads. The president and chief operating officer will be the Central's Perlman, 63, who is more noted for forceful operating know-how than deft administration. And keeping a close eye on moneybags will be the major stockholders: the Central's Allan P. Kirby and the Pennsy's celebrated Mellon family of Pittsburgh...