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The Men Who Loved Trains: The Story of Men Who Battled Greed to Save an Ailing Industry
A saga about one of the oldest and most romantic enterprises in the land -- America's railroads -- The Men Who Loved Trains introduces some of the most dynamic businessmen in America. Here are the chieftains who have run the railroads, including those who set about grabbing power and big salaries for themselves, and others who truly loved the industry. As a journalist and associate editor of Fortune magazine who covered the demise of Penn Central and the creation of Conrail, Rush Loving often had a front row seat to the foibles and follies of this group of men. He uncovers intrigue, greed, lust for power, boardroom battles, and takeover wars and turns them into a page-turning story for readers. Included is the story of how the chairman of CSX Corporation, who later became George W. Bush's Treasury secretary, was inept as a manager but managed to make millions for himself while his company drifted in chaos. Men such as he were shy of scruples, yet there were also those who loved trains and railroading, and who played key roles in reshaping transportation in the northeastern United States. This book will delight not only the rail fan, but anyone interested in American business and history.
360 pages, Hardcover
First published May 21, 2006
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Displaying 1 - 15 of 15 reviews
October 14, 2019
This book is about innovative men out to save a conservative industry.
American railroading, once one of the nation's premier industries and a leader in shaping its history, became a kind of slow-motion (excuse me!) train wreck in the 1960s and 1970s. Many good histories of the debacle and the long and costly efforts to keep the industry from collapsing have been detailed elsewhere, usually with primary emphasis on politics, economics, and finance. In this justly popular book, first published in 2006 and still in print, Rush Loving, Jr., looks at what happened through its railroading executives -- the ones who tried to turn their railroads into transportation conglomerates by de-emphasizing trains, the ones who tried to innovate and failed, the few who tried to innovate and did. Loving brings to this venture a railroader's love for trains, a keen grasp of the personalities involved, and a vivid writing style -- and is able to holds things together without losing sight of the welter of politics, money and fear going on amidst the hurly.
I admit to being a "railfan," but among the many reviews I've seen of this book here at Goodreads and other sites, I am most impressed by the number of non-fans who picked up this yeasty volume and loved it. I concur. Other interesting books that help shed light on what happened to U.S. railroads in the second half of the 20th Century include The Wreck of the Penn Central by Joseph R. Daughen and Peter Binzen; and two by Richard Saunders, Jr.: Merging Lines: American Railoads, 1900-1970, and Main Lines: Rebirth of the North American Railroads, 1970-2002.
American railroading, once one of the nation's premier industries and a leader in shaping its history, became a kind of slow-motion (excuse me!) train wreck in the 1960s and 1970s. Many good histories of the debacle and the long and costly efforts to keep the industry from collapsing have been detailed elsewhere, usually with primary emphasis on politics, economics, and finance. In this justly popular book, first published in 2006 and still in print, Rush Loving, Jr., looks at what happened through its railroading executives -- the ones who tried to turn their railroads into transportation conglomerates by de-emphasizing trains, the ones who tried to innovate and failed, the few who tried to innovate and did. Loving brings to this venture a railroader's love for trains, a keen grasp of the personalities involved, and a vivid writing style -- and is able to holds things together without losing sight of the welter of politics, money and fear going on amidst the hurly.
I admit to being a "railfan," but among the many reviews I've seen of this book here at Goodreads and other sites, I am most impressed by the number of non-fans who picked up this yeasty volume and loved it. I concur. Other interesting books that help shed light on what happened to U.S. railroads in the second half of the 20th Century include The Wreck of the Penn Central by Joseph R. Daughen and Peter Binzen; and two by Richard Saunders, Jr.: Merging Lines: American Railoads, 1900-1970, and Main Lines: Rebirth of the North American Railroads, 1970-2002.
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January 17, 2021
This book is an essential read for anybody seeking to understand how the modern east coast rail duopoly of CSX and Norfolk Southern came to be, though understandably that is probably very few readers.
The overt focus on railfanning is unfortunate, because buried just beneath the surface here is a fantastic business history filled with tales of corporate intrigue and management gone awry. I’d recommend this book to anybody who’s curious about big accounting/business scandals like Enron or the Great Financial Crisis; or anybody seeking to better understand the financialization of American companies starting in the 1980s; or the major deregulation that’s occurred in our economy over the same time period. Those readers will just have to put up with a lot of anecdotes about rail operations and
CEOs who grew up near railroads.
The overt focus on railfanning is unfortunate, because buried just beneath the surface here is a fantastic business history filled with tales of corporate intrigue and management gone awry. I’d recommend this book to anybody who’s curious about big accounting/business scandals like Enron or the Great Financial Crisis; or anybody seeking to better understand the financialization of American companies starting in the 1980s; or the major deregulation that’s occurred in our economy over the same time period. Those readers will just have to put up with a lot of anecdotes about rail operations and
CEOs who grew up near railroads.
February 26, 2019
Having grown up in the Philadelphia suburbs in a family the road the rails all the time (septa, Amtrak - Broadway Limited Paoli to Chicago every summer in my youth, etc) in the late 60s until 1990, and someone who was always interested in railroads and trains (I'm a man, for gods sacks!) this book was a must read.
Learned a lot. Interesting history.
Good commentary about the state of business in the USA. LBO, short term profit over long term strength. fuck that shit.
Some of the writing was a little dated. All the talk about Elizabeth Dole's looks - unnecessary and irrelevant. Don't recall anything comments about the looks of the many men in the book.
Would read it again.
Learned a lot. Interesting history.
Good commentary about the state of business in the USA. LBO, short term profit over long term strength. fuck that shit.
Some of the writing was a little dated. All the talk about Elizabeth Dole's looks - unnecessary and irrelevant. Don't recall anything comments about the looks of the many men in the book.
Would read it again.
July 17, 2008
I have always been interested in railroading, but this was my first time to read a book focusing on the politics involved. The book steps through the unfolding of one of the most notorious frauds of the 20th century, a fraud that could have crippled the northeastern U.S. It steps through many notable railroad men such as Al Perlman, Stanley Crane, David Goode, and Jim McClellan. The book is written in a conversational form, which adds to the enjoyment of the read. While the book is very good, you can't but help notice a slight bias, right or wrong, towards NYC and Norfolk Southern. But, this should not stop anyone wanting to know how two large railroads of the 1960's (NYC and PRR) progressed to two of today's super Class I's (CSX and NS).
January 7, 2013
Fantastic book. If you're into trains it's a must read. It paints a good picture of why the freight scene in the Northeast is the way it is, and it gave me an appreciation for Norfolk Southern.
I was previously unaware what a joke Penn Central's management actually was. I get it now.
I was previously unaware what a joke Penn Central's management actually was. I get it now.
August 18, 2018
Best train book I have ever read. It read like a novel. I turned pages until the end watching with bated breath as train systems and managers struggled to get it right.
May 25, 2017
I shall repeat the jacket information... it is more eloquent than I could be.
"A saga about one of the oldest and most romantic enterprises in the land--Americas railroads--this book also introduces some of the most dynamic people in America. Here are the players who have run the railroads, some intent only on their own power and gargantuan salaries, and others who have loved their industry.
In The Men Who Loved Trains, author Loving uncovers intrigue, greed, lust for power, boardroom battles, takeover battles, and even an astonishing story of how one of the most powerful executives in America took afternoons off for sex with one of Philadelphia's society leaders while his company plunged into bankruptcy.
As Loving points out, if Washington had imposed proper oversight after the Penn Central Railroad's accounting scandal in 1970, the Enron debacle might have been prevented 30 years later. The Men Who Loved Trains raises disturbing questions about the need for America's corporations to free themselves from the short-term demands of Wall Street and reinvest more of their profits in themselves and their employees.”
“[The book] is a riveting morality story of intrigues, boardroom battles, corporate takeovers, and secret cabals aiming for control of a large part of America's transport system. A rear behind-the-scenes story of an epic battle over power and personal gain.”
“The men who loved trains deserve a writer who loves them as well. This excellent book is a perfect match of subject and author."
“This absorbing book takes you on an entertaining ride through the train wars of the last 30 years. It is filled with intrigue and backbiting in the executive suites and with the stories of how the railroaders got away with unbelievable waste - until it all caught up with them. Rush Loving, a writer with the heart and soul of a true railroader, takes you inside the battles that changed rail transportation in this country.”
“This is a book that cannot be ignored by anyone who has a serious interest in one of the 20th century's greatest industrial turnarounds. Loving lived through it all, watching the era from beginning to end as a journalist and an insider. His in-depth knowledge and understanding shine through.”
Loving has been a journalist and consultant for 50 years. A Virginian, he served in the National Security agency and then worked on newspapers in Virginia before becoming Associate Editor of Fortune Magazine. He lectures on transportation issues at the University of Denver’s Intermodal Transportation Institute.
"A saga about one of the oldest and most romantic enterprises in the land--Americas railroads--this book also introduces some of the most dynamic people in America. Here are the players who have run the railroads, some intent only on their own power and gargantuan salaries, and others who have loved their industry.
In The Men Who Loved Trains, author Loving uncovers intrigue, greed, lust for power, boardroom battles, takeover battles, and even an astonishing story of how one of the most powerful executives in America took afternoons off for sex with one of Philadelphia's society leaders while his company plunged into bankruptcy.
As Loving points out, if Washington had imposed proper oversight after the Penn Central Railroad's accounting scandal in 1970, the Enron debacle might have been prevented 30 years later. The Men Who Loved Trains raises disturbing questions about the need for America's corporations to free themselves from the short-term demands of Wall Street and reinvest more of their profits in themselves and their employees.”
“[The book] is a riveting morality story of intrigues, boardroom battles, corporate takeovers, and secret cabals aiming for control of a large part of America's transport system. A rear behind-the-scenes story of an epic battle over power and personal gain.”
“The men who loved trains deserve a writer who loves them as well. This excellent book is a perfect match of subject and author."
“This absorbing book takes you on an entertaining ride through the train wars of the last 30 years. It is filled with intrigue and backbiting in the executive suites and with the stories of how the railroaders got away with unbelievable waste - until it all caught up with them. Rush Loving, a writer with the heart and soul of a true railroader, takes you inside the battles that changed rail transportation in this country.”
“This is a book that cannot be ignored by anyone who has a serious interest in one of the 20th century's greatest industrial turnarounds. Loving lived through it all, watching the era from beginning to end as a journalist and an insider. His in-depth knowledge and understanding shine through.”
Loving has been a journalist and consultant for 50 years. A Virginian, he served in the National Security agency and then worked on newspapers in Virginia before becoming Associate Editor of Fortune Magazine. He lectures on transportation issues at the University of Denver’s Intermodal Transportation Institute.
September 22, 2016
I bought the book for a friend and I did not intend to read it. One day I was between books and needed something to read. I grabbed it thinking I would read just a little to find out more what it was about. I could NOT put it down after starting it and, in a matter of a few days, finished it. It is so fascinating and I love how the author wove the story. NOW, I understand how the train industry is the way it is! (I do not give 5 stars willy-nilly, but this books deserves it.)
March 13, 2022
"The Men Who Love Trains"is the clear follow up to "The Wreck of the Penn Central." The first third of the book rehashes the merger of the Pennsylvania Railroad and the New York Central into the Penn Central and the variety of causes that led to Penn Central's failure.
From that point on the book deals into the executive directors of Penn Central and their frantic search for a way to save their railroad. The book describes the steps that took the government to save Penn Central and the other failed regional railroads and the Northeast ad extremum, the creation of ConRail, and ultimately the break of ConRail between Norfolk Southern and CSX.
This book does not present what the title implies, it fails to present the view of the men working the rails or keeping the systems going through the worst of times; the focus of this book was the persistent close-mindedness, greed, and poor foresight of planning while under restrictive regulations of the government from the 1950s to 1980s.
Much of the book is bogged down by the retelling of corporate meetings of Penn Central and later ConRail. The men portrayed as "loving the railroads back to health" were largely the same men whose greed crippled the railroads.
Disappointingly, the book focuses solely on the evolution of Penn Central into ConRail and then into Norfolk Southern and CSX. Very little note is made of the other systems that were bankrupt and integrated into ConRail (Central Railroad of New Jersey, Erie-Lackawanna, Lehigh Valley, Pennsylvania-Reading Seashore Lines, Reading Company) or of Penn Central's other merger partner, the New Haven. The perspective of the book was only about the preservation of the Penn Central (nee-PRR, NYC) Boston to St. Louis, NYC to Chicago, Philadelphia to Chicago, and Boston to Washington DC routes from the collapse of Penn Central to current CSX and NS operations.
From that point on the book deals into the executive directors of Penn Central and their frantic search for a way to save their railroad. The book describes the steps that took the government to save Penn Central and the other failed regional railroads and the Northeast ad extremum, the creation of ConRail, and ultimately the break of ConRail between Norfolk Southern and CSX.
This book does not present what the title implies, it fails to present the view of the men working the rails or keeping the systems going through the worst of times; the focus of this book was the persistent close-mindedness, greed, and poor foresight of planning while under restrictive regulations of the government from the 1950s to 1980s.
Much of the book is bogged down by the retelling of corporate meetings of Penn Central and later ConRail. The men portrayed as "loving the railroads back to health" were largely the same men whose greed crippled the railroads.
Disappointingly, the book focuses solely on the evolution of Penn Central into ConRail and then into Norfolk Southern and CSX. Very little note is made of the other systems that were bankrupt and integrated into ConRail (Central Railroad of New Jersey, Erie-Lackawanna, Lehigh Valley, Pennsylvania-Reading Seashore Lines, Reading Company) or of Penn Central's other merger partner, the New Haven. The perspective of the book was only about the preservation of the Penn Central (nee-PRR, NYC) Boston to St. Louis, NYC to Chicago, Philadelphia to Chicago, and Boston to Washington DC routes from the collapse of Penn Central to current CSX and NS operations.
September 8, 2022
I absolutely LOVED this book! It was a fantastic history of the railroad and Loving did a fantastic job on explaining how all these super complex railroads ran by these insane train obsessed weirdos.
My takeaway from this is that
A) Northfolk Southern sucks
B) CSX is too good for this world and too pure for the realities of the railroad industry (although mismanaged)
C) I feel a vile hatred for Elizabeth Dole deep in my soul
D) CONRAIL SHOULD STILL EXIST! Out of everything I truly believe this one!
The fact the US government was so desperate to get rid of CONRAIL as a corporation makes me insanely angry. Ronald Reagan sucks and his sole mission in life was to hollow out literally all of the US Government to be nothing more than an empty shell with a military. I could say a lot more than just CONRAIL
My takeaway from this is that
A) Northfolk Southern sucks
B) CSX is too good for this world and too pure for the realities of the railroad industry (although mismanaged)
C) I feel a vile hatred for Elizabeth Dole deep in my soul
D) CONRAIL SHOULD STILL EXIST! Out of everything I truly believe this one!
The fact the US government was so desperate to get rid of CONRAIL as a corporation makes me insanely angry. Ronald Reagan sucks and his sole mission in life was to hollow out literally all of the US Government to be nothing more than an empty shell with a military. I could say a lot more than just CONRAIL
April 29, 2020
I couldn’t put it down!!!!
Quite a detailed account of what’s gone on with railroads in the northeast over the past 50-60+ years.
It was fascinating but the number of people involved, what they did, where they worked, got confusing. A flowchart / timeline would have helped but that is nitpicking on my part.
In all, a great book.
Quite a detailed account of what’s gone on with railroads in the northeast over the past 50-60+ years.
It was fascinating but the number of people involved, what they did, where they worked, got confusing. A flowchart / timeline would have helped but that is nitpicking on my part.
In all, a great book.
November 3, 2020
Surprisingly fun and engaging book. It recounts the history of railroading in the Northeast from the mid-60s to 1999. It focuses more on the people that were making the decisions rather than on the economics driving them, but it's still a solid account.
January 1, 2021
A very detailed look into how Conrail rose and fell. More drama than I expected.
Read
June 12, 2022Fascinating how Railroading in NE condensed and almost collapsed from market forces, greed and hubris from 40 Class 1 railroads to 2 NS/CSX in 39 years 1960-1999
October 2, 2017
Railroad history post WW2 and Management lessons combined
It is not just the best railroad book but also the best book I have read. The exploits of the legendary Jim McClellan as well as other Rail leaders are chronicled giving a comprehensive look at the path taken by the American railroads and their resilience and resurgence
It is filled with leadership and management lessons as well. Highly recommended
It is not just the best railroad book but also the best book I have read. The exploits of the legendary Jim McClellan as well as other Rail leaders are chronicled giving a comprehensive look at the path taken by the American railroads and their resilience and resurgence
It is filled with leadership and management lessons as well. Highly recommended
Displaying 1 - 15 of 15 reviews