Railroads

[Rainier]

1 hour ago, MxMI17 said:

It is probablly not you are looking for exactly, but If you have not read Railroader, Hunter Harrisons biography, I would higly recommended. He is a legend in the industry

https://www.amazon.com/dp/1989025048/?bestFormat=true&k=railroader&ref_=nb_sb_ss_w_scx-ent-pd-bk-d_k0_1_10_de&crid=8IREN37S2BQG&sprefix=railroader

I can second this book. Very interesting biography, but also gave me a lot of insight into how the business works.

[oscarazocar]

1 hour ago, hasilp89 said:

Apologies if it has already been mentioned somewhere but is there a railroad history book (similar to Yergin's The Prize) that anyone would recommend.

 

 

 

I don't know of one good comprehensive book, but there are biographies on a number of the main players that pretty much get you to the same place - Gould/Harriman/Hill/Vanderbilt/Van Sweringen/etc.

 

Jay Gould

 

The Life & Legend of Jay Gould - this one is very long and comprehensive if you really want to get in the weeds.

https://www.amazon.com/Life-Legend-Jay-Gould/dp/0801857716/ref=sr_1_5?crid=1DT0JUYCR277U&dib=eyJ2IjoiMSJ9.mt1TVjMgDxRFQIwlIxM4hPV0l22aVLApBZWPBgpq1JhL-7Jl7JbQIMmhyvZbGE2Ik3d2SJY_fGtJh-T8RMqt1XXnoRjALrtYXVmQKSdQEBIRRw3XHSNYqLKZIwnbbxE5Cv-pw9XEtBmhWtxj-bt71AJPFE9XN3YaXIYI_I9ggoAc7ebuJyWbmUb4XAYU70Hl-o7lA-XBvtkiMrogh4XTAoPYl42373TUapdAzKdEl-0.eivntz0f3KI-gtT-ullz3pNZKJ5wiBx_c-8QQSLu5FU&dib_tag=se&keywords=jay+gould&qid=1758552446&s=books&sprefix=jay+gould%2Cstripbooks%2C92&sr=1-5

 

American Rascal - this and the next are more recent and shorter, I preferred Dark Genius

https://www.amazon.com/American-Rascal-Streets-Biggest-Fortune/dp/1982107405

 

The Dark Genius of Wall Street

https://www.amazon.com/Dark-Genius-Wall-Street-Misunderstood-ebook/dp/B00A9XVLXI?ref_=ast_author_dp_rw&dib=eyJ2IjoiMSJ9.EnZgMbypos3lT9P404GKZ77XPuOy-TJ-ePHURf3_tfgbJ0pW0CU4W-BHNgdDtRgLWLzw9jix-tMB3uLfyg3VE3AfXWm-pAQReul_Nh6xK7C67x0wgXIuXjrdDBFJz0FvrbHJwNpuRlmp1sIlTBFacJmI7afXHaQXMqN6whAuguKRzVzQvoi0QWC03DmfYVK4JiIL6ERyKlcUZmp20Xw-Ft42jJtIjcO_6R5u3yWWMPw.9D0SbHQhHFYfQkHmzXQSFYmLhQxRQROchUn_dQdPL_Q&dib_tag=AUTHOR

 

Van Sweringen brothers - I haven't read this but it is supposed to be excellent

https://www.amazon.com/Invisible-Giants-Clevelands-Sweringen-Brothers/dp/0253341639

 

Charles Morris - The Tycoons - good broader coverage of all robber barrons, I thought this was great

https://www.nytimes.com/2005/10/02/books/review/the-tycoons-benefactors-of-great-wealth.html

 

Harriman vs Hill -  I think Buffett recommended this somewhere years back, he blurbs it.  Very well written account of Harriman/Hill 1907 battle and resulting panic.

https://www.amazon.com/Harriman-vs-Hill-Streets-Railroad/dp/0816683646

 

Vanderbilt

https://www.amazon.com/First-Tycoon-Epic-Cornelius-Vanderbilt/dp/0375415424

[Xerxes]

Totally UNCH since the high summer August days of 2020
 

[dealraker]

Yesterday Angela and I went down the road a bit and toured Aberdeen Carolina and Western Railway.  This business is one for the fantasy of anyone who can fathom a man buying something that had 800 carloads a year and taking it to 16,000 car loads a year.  Then on top of that he's created an entertainment division...

 

The day absolutely blew my mind as it relates to business.  This type of thing is precisely what my family has tried to do, successfully but not nearly as successfully as this guy.

 

The big rails have taken the easy route, just cut-cut-and cut some more and plug in financial gimmickry to make the CEO bonus...and then retire to hand it to the next smart manipulative cookie.  All with stagnant sales and carloads.  If nothing else?  It is called boring, boring, and more boring.  Sales people...where are the sales big boys?

 

The model that works:

 

https://www.acwr.com/

[gfp]

1 hour ago, dealraker said:

Yesterday Angela and I went down the road a bit and toured Aberdeen Carolina and Western Railway.  This business is one for the fantasy of anyone who can fathom a man buying something that had 800 carloads a year and taking it to 16,000 car loads a year.  Then on top of that he's created an entertainment division...

 

The day absolutely blew my mind as it relates to business.  This type of thing is precisely what my family has tried to do, successfully but not nearly as successfully as this guy.

 

The big rails have taken the easy route, just cut-cut-and cut some more and plug in financial gimmickry to make the CEO bonus...and then retire to hand it to the next smart manipulative cookie.  All with stagnant sales and carloads.  If nothing else?  It is called boring, boring, and more boring.  Sales people...where are the sales big boys?

 

The model that works:

 

https://www.acwr.com/

 

that's great!  Looks like Bob Menzies has an awesome collection of restored antique pullman cars and other historic cars.  I have some family out that way that would love to take some of the entertainment train rides