Penn Central Transportation Company
Perlman ultimately left to head up the New York Central, with Kenefick following. Kenefick, however, left the Central before its ill-starred merger with the Pennsylvania Railroad, traveling to Omaha, Nebraska, as president of the Union Pacific Railroad. Perlman's career nearly came to an end in the wake of the unsuccessful Penn Central Transportation Company merger of the New York Central and the Pennsy, which in 1970 resulted in the largest bankruptcy in the U.S. to that time.