Re: Southern Pacific Presidents-Regrets?
Author: BOB2
Date: 10-19-2014 - 08:50
Regret?
He stripped SP rail assets at a time of unprecedented RR cash flow, wrote off the depreciation while the RR plant deteriortated, and made brilliant investments in things like Pipelines, Sprint, Pacific Design Center, Banknote firms, and various real estate deals, tried to set it up to for the merger, then his underlings dumped the skeleton on Anschutz at a bargain price, finally distributing boat loads of stock in the profitable operations to those of us who had held SP stock.
Regret, over what, laughing all the way to the bank?
The Southern Pacific Corporation was a publicly traded company, not just a railroad.