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Penn Central Eyes Asset Sales to Save Railroad by 1976
Trustees of the Penn Central plan to shed nonrail assets including land in Manhattan and holdings such as Madison Square Garden to focus on running the railroad. They aim for positive cash flow on a bankruptcy basis within nine to twelve months and predict a long road to recovery with potential labor cuts and efficiency drives.
MENTIONED IN THIS ARTICLE
Lee Linder
Associated Press
Philadelphia
Penn Central
U.S
Pennsylvania
New York Central
Langdon
Midtown Manhattan
New York City
Nowrailroad
Son Square Garden
Chicago, Rock Island & Pacific Railroad