Conrail
Conrail was the Consolidated Rail Corporation, a federally created freight railroad that began operating on April 1, 1976, from the remains of Penn Central and other bankrupt Northeastern lines, and was divided between CSX and Norfolk Southern on June 1, 1999.
What happened and why it matters
Conrail shows how the Northeast's freight rail network was rescued and then rebuilt into the two systems that serve it today. Federal funding and the 1980 Staggers Act, which loosened rate regulation, let Conrail shed unprofitable lines and turn a profit in the 1980s, and it was privatized in 1987. CSX and Norfolk Southern bought it and split its routes in 1999, keeping jointly owned shared areas in North Jersey, South Jersey and Philadelphia, and Detroit. Importers moving containers inland from the Port of New York and New Jersey still ride this divided network, so East Coast intermodal is largely a choice between CSX and Norfolk Southern.
Related events
Laws and regulations
Sources
- Conrail (Wikipedia) en.wikipedia.org
- Five mind-blowing Conrail facts (Trains) trains.com