Mr. Ploss's book may be overoptimistic about the Milwaukee Road...
https://www.biblio.com/9780961378813
...but the stories of the bad corporate culture, and dishonest accounting leading to gross mismanagement, are all verified.
http://www.trainweb.org/milwaukee/article.html
"The ICC carefully auditted the Milwaukee's own books, which none of the auditors commisioned by the trustee had done, for the years 1976 through 78 and the findings were startling.
They found that for some reason the Milwaukee had been double entering expenses on "Lines West". It has never been discovered who authorized this or who was doing it, but the ICC auditors found it and were able to derive accurate figures for profits on "Lines West".
What they found was that instead of the terrible cash drain the trustee said it was, the Extension had actually contributed profits of $12.7 million in 1976, $11 million in 1977, and $2.9 million in 1978. It should also be noted that these three years were well into the decline of traffic on the western lines due to deteriorated trackage and transit times and the refusal by the company to supply cars to western customers. The ICC was so startled by these findings, they had another group of auditors go over the books just to be sure the figures were right. They were."
"In 1978, lines west of Miles City MT had generated $150 million in revenues, but what is even more staggering is that the Road turned away $64 million in business due to a "lack of car supply" according to Paul Cruikshank, Vice President-Operations. If an adequate car supply would have been provided, "Lines West" revenues would have equalled those of "Lines East" while having only about 25% of the total route miles and 20% of the employees of the system.
The Bankruptcy Court found that, on average, a carload of transcontinental freight contributed $1000 towards overhead while the same carload, handled only on "Lines East", contributed only $100. The ICC concluded that the drop from 1977 to 1978 was due to the trustee's practice of "discouraging traffic", which the Milwaukee's own management had started doing in 1974."
"Unfortunately, this information was found too late as by now it was the end January, 1980."
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So, specifically, the Milwaukee Road first discouraged traffic on, and then discontinued, the portion of its system which was contributing the most marginal profit to cover overhead while having the least maintenance and operational costs -- and simultaneously preserved the part which was contributing the least to covering overhead and had the highest maintenance and operational costs. This was because they were looking at phony accounting.
There were lots of other decisions which any accountant would scratch their heads at, detailed in the article. For example, the Milwaukee Road spent more to dieselize "Lines West" than it would have cost to close the electrification gap... during the 1970s oil crisis. A decision to raise costs of operation while reducing speeds.
"In 1975 the SEC would file charges in federal court charging that the management of the Milwaukee had "defrauded the company and it's shareholders by selling assets without informing the stockholders or the SEC, with deferring maintenance on the track facilities without proper disclosure, and of otherwise falsifying the company books."
Stories from people who worked inside the company show that the management had their minds made up and facts didn't matter to them. Gilbert Norman, who shows up here occasionally, worked there, and explains that the corporate culture was fixated on destroying Lines West, facts be damned:
http://www.railroad.net/forums/viewtopic.php?p=453101&sid=6417f975d06660972a7b2011b7290466#p453101
You've got nothing to counter any of this. So I conclude that you've been taken in by diversionary arguments -- and I know what I'm talking about. Consider yourself schooled.