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(erielack) Conrail did not buy Erie-Lackawanna..!
Dear E-L friends, Conrail did not buy Erie-Lackawanna...they brought the rail assets they wanted. If you brought the corporation you would be buying their problems, and have to deal with their stockholders.You'd get the trademarks of a failed business. Trademarks...I don't know about any new laws in the 1970's. But the only railroads that trademarked their logo's that I know of, were the Chesapeake and Ohio and The Santa Fe.The weary, Erie was not one of them. (Just my opinion.)
Erie-Lackawanna as much as we feel this is the perfect railroad. Was not ...I guess the term is ...a clean corporation. There were issues....which came up in the past 100 years which were still going on, in 1992.
If you found the largest shareholder, and brought their shares. Perhaps, you could go to the Ohio court that ordered the liquidation, and open the corporation again!Here's a question for the group....Who was the largest shareholder? It wasn't me. I just had one share to follow...the company to the end. (It also looks great over my desk, on the wall.)I still have the last check. It was for a few cents. The management would sell a asset, pay themselves...shareholders got what was left. There was a movement to continue the company. I voted for that. It failed!To my knowledge all the outstanding bonds were paid off. Conrail paid ....what? six humdred million dollars for the rail assets. I'm not sure of this amount. There was lots of money to continue the company!....
I really doubt...it's just my opinion here, Conrail would want any connection with Erie-Lackawanna.Lackawanna Lance
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