You are here:Home12 / Research Library31980 Briefing for President Carter on the Proposed Penn Central Settlement4
October 8, 2015|ENO CENTER FOR TRANSPORTATION
November 14, 1980 briefing materials given to President Carter by his domestic policy staff and the Justice Department outlining a proposed settlement in litigation with the bankrupt Penn Central Transportation Company over the value of their property taken by the government and given to ConRail. The documents give extensive background of the dispute and ask the President’s approval for a settlement valuing the Penn Central assets in the neighborhood of $1.50 billion. A copy of draft settlement papers to be filed with the court are also included. A settlement was announced three days later valuing the assets at $1.46 billion.