A while back we wrote about Penn Central Railroad.
Then we got some great information from Victor Cyunczyk
PC was a flop, but the Erie-Lackawanna wasn’t. They all ran in the same area. Hurricane Agnes was what really killed the E-L. When the Erie and Lackawanna merged, it was a good idea. Erie didn’t reach New York City, and, alone, they didn’t stand a chance against the PRR or NYC. PC’s computer systems were not integrated well enough for proper car routing, so you might have, say, a car from Chicago to D.C. If it left from the NYC yard in Chicago, it would get misrouted when transferred to the former PRR and potentially end up back in Chicago or even in some other city. Lehigh Valley? Forget it. I agree that PRR should have bought the Reading and then sold off the NEC. NYC should have just held out and fixed its physical plant. NYC and/or PRR would be a cash machine today with the railroad renaissance.