 |
Re: What did Biaggini/Krebs do wrong?
Author: Nudge
Date: 09-17-2016 - 10:39
Biaggini sold off Sprint & SP Pipe Lines. PMT was in there somewhere but don't remember the year. A tiny part was kept around auto plants but after awhile it was gone too.
Then it was Krebs turn in the barrel. When the merger was shot down, I am sure he knew what was coming way ahead of time.
That bit with Moyers was a rip off for the railroad itself. He was paid a salary and a huge percentage on top of that of what he took out of service. Big incentive for Donner.
Krebs got rid of the SP Land Company and anything else that was left. He bought up other businesses that had nothing to do with the railroad. He then rolled over and stayed with BNSF along with what he sold off or taken from the SP.
When he was done, all that was left was the right of way in terrible condition, engine and cars falling apart from lack of maintenance. A wooden axle railroad if you will.
Uncle Phil stepped in and got the SP at a bargain basement price. Nobody will ever really know what went on behind the scenes getting it to this point.
But all the major players made a pile of money down through the years, even with Uncle Phil selling out to the UP.
The employees were the ones that lost along with small shippers. Sounds like it fits right in with the rest of the country over the 40 or so years.
Nudge
Then it was Krebs turn in the barrel. When the merger was shot down, I am sure he knew what was coming way ahead of time.
That bit with Moyers was a rip off for the railroad itself. He was paid a salary and a huge percentage on top of that of what he took out of service. Big incentive for Donner.
Krebs got rid of the SP Land Company and anything else that was left. He bought up other businesses that had nothing to do with the railroad. He then rolled over and stayed with BNSF along with what he sold off or taken from the SP.
When he was done, all that was left was the right of way in terrible condition, engine and cars falling apart from lack of maintenance. A wooden axle railroad if you will.
Uncle Phil stepped in and got the SP at a bargain basement price. Nobody will ever really know what went on behind the scenes getting it to this point.
But all the major players made a pile of money down through the years, even with Uncle Phil selling out to the UP.
The employees were the ones that lost along with small shippers. Sounds like it fits right in with the rest of the country over the 40 or so years.
Nudge
