Derailed By Bankruptcy: Life After The Reading Railroad

Hardcover | January 4, 2016

byHoward H. Lewis

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What happened when the US government stopped investing in railroads and started investing in highways and air travel? By the late 1970s, six major eastern railroads had declared bankruptcy. Although he didn't like trains, Howard H. Lewis became the primary lawyer for the Reading Railroad during its legendary bankruptcy case. Here, Lewis provides a frank account of the high-intensity litigation and courtroom battles over the US government's proposal to form Conrail out of the six bankrupt railroads, which meant taking the Reading's property, leaving the railroad to prove its worth. After five grueling years, the case was ultimately settled for $186 million-three times the original offer from the US government-and Lewis became known as a champion defender of both the railroad industry and its assets.

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What happened when the US government stopped investing in railroads and started investing in highways and air travel? By the late 1970s, six major eastern railroads had declared bankruptcy. Although he didn't like trains, Howard H. Lewis became the primary lawyer for the Reading Railroad during its legendary bankruptcy case. Here, Lewi...

Howard H. Lewis, a graduate of Harvard Law School, has practiced law for over 50 years.John C. Spychalski is Professor Emeritus of Supply Chain Management, Pennsylvania State University.

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Format:HardcoverDimensions:160 pages, 9 × 6 × 0.98 inPublished:January 4, 2016Publisher:Indiana University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0253018668

ISBN - 13:9780253018663

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Extra Content

Table of Contents

Foreword by John C. Spychalski
List of Abbreviations
List of Important Names
Introduction
1. The Age of Innocence
2. The Gathering Storm
3. A Time of Waiting
4. The Beginning
5. The Plot Thickens
6. Fear and Exhaustion
7. Detailed Case Preparation
8. The Times That Try Men's Souls
9. The Rail Use Case: Ours and the Government's
10. The Government's Case
11. End Game
Epilogue
Notes

Editorial Reviews

"Lewis has done the impossible-written an engaging and very human story about a railroad bankruptcy. I was deeply involved in the great railroad crisis of the early 1970s while at the FRA and USRA but still learned a lot from Derailed by Bankruptcy. This book is essential reading for those interested in a turbulent time when freight railroading came close to being nationalized." -Jim McClellan, Senior Vice President at Norfolk Southern (retired)