Word: saunderses
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Unique Position. Saunders also bought a 57% interest in Executive Jet Aviation, a young company organized to provide charter service to businessmen. Among other advantages, Executive Jet gives the Pennsy a foothold in aviation and a start toward what Saunders calls a "total transportation company." For such investments the Pennsy...
For all the advantages of diversification, Saunders always looked upon consolidation with the New York Central as his most important project. The two lines were in the process of beating each other into bankruptcy. As early as 1957, merger talks had started between Saunders' Pennsy predecessor, James M. Symes...
Without Illusions. While Saunders was maneuvering so skillfully toward merger, an unexpected problem arose: the New York Central began making noises about backing out of the deal. Elated by rising profits in 1966, Perlman announced that the Central appeared to be "recession-proof" and might not have to merge in...
Now only ragtag ends of the complicated corporate battle remain to be resolved. But Saunders labors under no illusions about the future. "The Pennsy itself," he says, "is a tough property to operate." The Penn Central will be a lot tougher. Pennsy President Allen J. Greenough, 62, whose title in...
Computers and the men necessary to run them have nourished a new breed of railroaders-management experts with wide-ranging interests. And they, in turn, have fueled the railroads' drive to diversify-if the Government eases up-into related areas of transportation. The Missouri Pacific, which already owns two...