Word: perlman
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...nation's freight and serve 2,816 communities from Montreal to Cairo, Ill., and from Chesapeake Bay to uppermost Michigan. The deal between two century-old rivals climaxes nine years of negotiations, which began with huddles among the late Central Chief Robert R. Young, current Central President Alfred Perlman, and former Pennsy Chairman James Symes...
Other barriers are harder to hurdle. The Penn-Central merger, first announced in 1957, was held up for three years while Central President Alfred Perlman worked to upgrade his line and put it into a better bargaining position with the larger Pennsy. Result: when agreement with the Pennsy finally came in 1962, Central stockholders were assigned 1.3 shares of the new line, Pennsy stockholders only one. Advantageous though the delay was to Central, it has already cost, by conservative estimate, $240 million in potential savings-and will cost a lot more before the ICC makes its final decision, expected...
...time: almost simultaneously, both roads issued bullish annual reports. Pennsy Chairman Stuart T. Saunders, 55, glowed over his road's best performance in eight years: earnings doubled, revenues reached a record $907 million and the road resumed paying quarterly dividends after a seven-year lapse. Central President Alfred Perlman, 62, was hardly less content; the Central's earnings of $35.5 million on its $733 million in revenues were 21 times those of 1963, largely because the Central has cut its debt by $256 million since 1957 and thus shaved its interest and service charges...
Exposure Problem. Perlman is a polio victim. He hobbles onto the stage on crutches and plays sitting down. He was stricken with the disease when he was four and lived for one year in bed with his violin. As soon as he was able to get around, he entered music school. At 13, he won a scholarship to Manhattan's Juilliard School of Music, where he has been a student ever since. His parents, Zionist pioneers who came to Israel in the 1930s, moved to New York City with him. His father now folds shirts in a Manhattan laundry...
Exposure in the U.S. has been a bit of a problem for Perlman. His all-important debut in Carnegie Hall went unnoticed because it occurred during the 1962-63 newspaper strike. Then last April he won the prestigious Leventritt Competition, but in all the excitement the $15,000 Guarnerius violin he had borrowed from Juilliard was stolen. The instrument was recovered later in a pawnshop, but news of the event completely overshadowed his stunning victory. Barring other such misfortunes, the U.S. and the world will be hearing a lot more about Itzhak Perlman in the very near future...