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Way, way, way aside, but if anybody watches Downton Abbey, the estate is in jepoardy because the family fortune was lost investing in the Grand Trunk Railway of Canada.  The president of  the GTR was a casualty of the  Titanic sinking and then the railroad went bankrupt, to a large part trying to expand to the Pacific coast.  The British were very active investors in N American railroads and bankrupcy was a not uncommon occurance.  A smaller weaker railroad could be done in by the likes of such a natural disaster as a major slide, tunnel or bridge collapse.  Its not the cost of the damage that gets the company, its the loss in revenue having the route shut down for weeks or months while the line is restored.  Modern mega merger roads can survive because they have, in most cases alternate routes or access to alternate routes that can preserve their revenue stream during the recovery.

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