A gov't corp. losing a million dollars a day? It's no joke.
April 1, 2006 8:31 AM Subscribe
What would you think if the U.S. government decided to take six failing private companies, combine their assets into one government-operated company, and subsidized it through losses of a million dollars per day? It's something that might not happen today, but on this day in 1976, Conrail (the Consolidated Rail Corporation), took over operations
for six railroads in the northeast, putting an end to the fruitless mergers
and often-massive bankruptcies
that had become common. [more inside]
posted by Godbert (12 comments total)
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