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Re: The RRs Got Land & Money!
Author: OldPoleBurner
Date: 05-18-2011 - 21:34

> Crédit Mobilier anybody?


Chump change!


When the SPSF ("shouldn't paint so fast) merger was rejected by the Reagan administration as being too anti-competitive, the gov't ordered the holding company to divest itself of the Southern Pacific.

But it seems they failed to follow through and make sure that all of SP's assets were also divested along with the railroad. They (Santa Fe Pacific Corp.) kept the several million acres of land grant the SP still had, much of it income property. They stripped the SP of every dime that wasn't actually rails and R.O.W..

So it was not really any surprise to anyone what happened to SP next. Stripped of its assets, the corporation quickly sank. Now who's got all those millions of acres that congress intended to subsidize the railroad with, in perpetuity.

Crédit Mobilier all over again - squared!

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Subject Written By Date/Time (PST)
  Union Pacific Tehachapi expansion project Conductor Jake 05-16-2011 - 07:35
  Re: Union Pacific Tehachapi expansion project Jeff Sloan 05-16-2011 - 11:06
  Re: Union Pacific Tehachapi expansion project Capdiamont 05-16-2011 - 18:19
  Re Your Tax Dollars At Work Conductor From "The Polar Express" 05-16-2011 - 19:33
  Your Tax Dollars At Work Conductor From "The Polar Express" 05-16-2011 - 17:51
  Re: Your Tax Dollars At Work Chris Stark 05-16-2011 - 18:02
  Re: Your Tax Dollars At Work Dagny Taggart 05-18-2011 - 04:11
  Re: Your Tax Dollars At Work S. Berman 05-18-2011 - 09:36
  Re: Your Tax Dollars At Work--John Galt Carol L. Voss 05-18-2011 - 09:38
  Re: Union Pacific Tehachapi expansion project David Smith 05-16-2011 - 19:15
  Re: Union Pacific Tehachapi expansion project stash 05-16-2011 - 23:14
  Re That "Welfare For The Rich" Conductor From "The Polar Express" 05-16-2011 - 23:37
  Re: Tehachapi Expansion Project -- Get your photos now... George Andrews 05-17-2011 - 06:48
  Re: Union Pacific Tehachapi expansion project Juppo 05-18-2011 - 14:50
  Warren Buffet Isn't Exactly Standing On A Street Corner With A Tin Cup Conductor From "The Polar Express" 05-18-2011 - 16:44
  The RRs Got Land & Money! Ty Coon 05-18-2011 - 19:04
  Re: The RRs Got Land & Money! OldPoleBurner 05-18-2011 - 21:34
  Re: The RRs Got Land & Money! Dr Zarkoff 05-20-2011 - 23:19
  Re: The RRs Got Land & Money! Inspector General 05-18-2011 - 21:36


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