Word: saunderses
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To work out his luck when he came to the Pennsy, Saunders had two major aims. One was to shake awake a slumbering, 121-year-old railroad that had stumbled onto hard times. Falling earnings and a high debt had led the road's conservative management to cut back...
Tangled Midwest. To be sure, the merger trend among U.S. railroads is nothing new (see map). But the plans for the Penn Central were the most am bitious yet. As Saunders promoted them, his tireless determination seemed to promise eventual success. Inevitably, it gave new impetus to a growing roster...
Sustained Sentiment. The man who is slated to preside over the Penn Central, fittingly enough, is the man who started the merger trend. It was Saunders, as president of the Norfolk & Western, who arranged for the takeover of the Virginian Railway in 1959 and laid the groundwork for the N...
Saunders' performance at the N. & W. impressed the Pennsylvania Railroad directors, who, at that time, held 33% of the N. & W.'s stock. A delegation from the Pennsy, headed by
Pittsburgh Banker Richard Mellon, called on Saunders in Roanoke to of fer him the opportunity of running the nation's largest railroad. Saunders accepted without hesitation. When he moved to Philadelphia, he took along a cadre of N. & W. executives who are still known around headquarters as the "Virginia...