Endnote:
The Penn Central was put into bankruptcy in June of 1970. If its parent, The Penn Central Company, had gone into bankruptcy, it would have been the largest bankruptcy in history; larger than ENRON, WorldCom and Lehman Brothers. How it survived is the basis for this book.
Penn Central Annual Report 1969
Penn Central Company (Consolidated)
Shareholder’s Equity: $2,809.968,000
Shareholder’s Equity: $16,259,286,442 (in year 2009 dollars)
Penn Central Transportation Company (only)
Shareholders Equity: 1,805,372,000
Shareholder’s Equity: $10,446,403,832 (in year 2009 dollars)
ENRON Annual Report 2000
Shareholder’s Equity: $11,470.000.000
Shareholder’s Equity: $14,149,000,000 (in year 2009 dollars)
WorldCom Annual Report 2000
Shareholder’s Equity $52,946,000,000
(However, Goodwill and other intangible assets totaled:
$36,946,000,000 resulting in an adjusted
Shareholder’s Equity of $16,000,000,000
Lehman Brothers in 2008 had assets and liabilities greater than any
of the above companies, however its adjusted
Shareholder’s Equity was about $14,000,000.000.
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