George Alpert had it right. He said that the government must be involved to save the New Haven Railroad.
In the 1950’s and 1960’s, the railroad was considered old fashion and the government was putting all its monies into air and highway travel. The tendency to want to bail out a railroad was pretty low, although that did happen with the Long Island. The Long Island had the advantage of being entirely within NY State.
The trustees had to either return the railroad to profitability, palm it off on the government or other group seeking to lose money or liquidate. Yes the trustees could have pushed for government take over, but that would have been tough. Essentially 4 states would have to agree to purchase, own and operate in a climate that was still more capitalistically oriented for solutions and not enamoured with railroads.
If the liquidation route were taken…
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