Rock Island Requiem

The Collapse of a Mighty Fine Line

Nonfiction, Reference & Language, Transportation, Railroads, History, Business & Finance, Economics, Economic History, Americas, United States
Cover of the book Rock Island Requiem by Gregory L. Schneider, University Press of Kansas
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Gregory L. Schneider ISBN: 9780700620302
Publisher: University Press of Kansas Publication: August 15, 2015
Imprint: University Press of Kansas Language: English
Author: Gregory L. Schneider
ISBN: 9780700620302
Publisher: University Press of Kansas
Publication: August 15, 2015
Imprint: University Press of Kansas
Language: English

Celebrated in history and song, the Chicago, Rock Island and Pacific Railroad Company—the Rock Island Line—was a powerful Midwestern railroad that once traversed thirteen states with its fast freights and Rocket passenger trains but eventually succumbed to government regulation and a changing economy. Gregory Schneider chronicles the Rock Island's painful decline and along the way reveals some of the key problems within the American railroad industry during the post-World War II era.

Schneider takes readers back to a time when railroads still clung to a storied past to offer new insight into the devastating impact of economic policymaking during the 1960s and 1970s. Schneider recounts the largest railroad liquidation in American history—as well as one of the most successful reorganizations in American business—to depict the demise and ultimate collapse of Rock Island as part of a broader account of hard times in the railroad industry beginning in the 1970s.

Schneider weaves a complex story of how business, politics, government bureaucracy, and individual greed helped to limit the economic possibilities of the railroad industry and catapult the Rock Island Railroad into oblivion. Weakened by a troubled economy, the Rock fell victim to inept management and labor union intransigence; but Schneider also reveals how government regulations and price controls prevented innovation, hindered capital acquisition, and favored other forms of transportation that lie beyond the scope of regulation. Railroads were even hurt by taxation of property and real estate while competitors were able to use government-subsidized highways and airports without having to pay taxes to fund them.

Now that America has gone on to witness the collapse of such mammoth firms as Enron and Lehman Brothers, not to mention the bankruptcy and bailout of General Motors, the story of the Rock provides an instructive lesson in how a major American enterprise was allowed to fall victim to forces often beyond its control—while the bailout of the Penn Central, at the expense of smaller lines like Rock Island, helped initiate the era of "too big to fail."

For economic historians and railroad buffs alike, Rock Island Requiem is a well-researched and informative work—and a mighty good read.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Celebrated in history and song, the Chicago, Rock Island and Pacific Railroad Company—the Rock Island Line—was a powerful Midwestern railroad that once traversed thirteen states with its fast freights and Rocket passenger trains but eventually succumbed to government regulation and a changing economy. Gregory Schneider chronicles the Rock Island's painful decline and along the way reveals some of the key problems within the American railroad industry during the post-World War II era.

Schneider takes readers back to a time when railroads still clung to a storied past to offer new insight into the devastating impact of economic policymaking during the 1960s and 1970s. Schneider recounts the largest railroad liquidation in American history—as well as one of the most successful reorganizations in American business—to depict the demise and ultimate collapse of Rock Island as part of a broader account of hard times in the railroad industry beginning in the 1970s.

Schneider weaves a complex story of how business, politics, government bureaucracy, and individual greed helped to limit the economic possibilities of the railroad industry and catapult the Rock Island Railroad into oblivion. Weakened by a troubled economy, the Rock fell victim to inept management and labor union intransigence; but Schneider also reveals how government regulations and price controls prevented innovation, hindered capital acquisition, and favored other forms of transportation that lie beyond the scope of regulation. Railroads were even hurt by taxation of property and real estate while competitors were able to use government-subsidized highways and airports without having to pay taxes to fund them.

Now that America has gone on to witness the collapse of such mammoth firms as Enron and Lehman Brothers, not to mention the bankruptcy and bailout of General Motors, the story of the Rock provides an instructive lesson in how a major American enterprise was allowed to fall victim to forces often beyond its control—while the bailout of the Penn Central, at the expense of smaller lines like Rock Island, helped initiate the era of "too big to fail."

For economic historians and railroad buffs alike, Rock Island Requiem is a well-researched and informative work—and a mighty good read.

More books from University Press of Kansas

Cover of the book Before Earth Day by Gregory L. Schneider
Cover of the book Through the Maelstrom by Gregory L. Schneider
Cover of the book Abolitionists, Doctors, Ranchers, and Writers by Gregory L. Schneider
Cover of the book Marshall and His Generals by Gregory L. Schneider
Cover of the book Gospel According to the Klan by Gregory L. Schneider
Cover of the book Disqualifying the High Court by Gregory L. Schneider
Cover of the book Abraham Lincoln and White America by Gregory L. Schneider
Cover of the book Branding Hoover's FBI by Gregory L. Schneider
Cover of the book Targeting the Third Reich by Gregory L. Schneider
Cover of the book The Psychological War for Vietnam, 1960-1968 by Gregory L. Schneider
Cover of the book Flying against Fate by Gregory L. Schneider
Cover of the book The American State Constitutional Tradition by Gregory L. Schneider
Cover of the book The Presidency of George H. W. Bush by Gregory L. Schneider
Cover of the book The Pope's Soldiers by Gregory L. Schneider
Cover of the book The Russian Army in the Great War by Gregory L. Schneider
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy