On May 1, 1971, Amtrak began operation.

[bucolic_frolic]

5. Thank you! I dimly remember the hullabaloo over Penn Central and Madison Square Garden

but I would have placed Penn Central bankruptcy in the mid 70s. How reality slips by when you're really not paying attention.

Gemini: "The original Pennsylvania Station (1910) was demolished in 1963 by the Pennsylvania Railroad (later merged into Penn Central) to sell air rights, creating the modern, subterranean Penn Station beneath the new Madison Square Garden (MSG). This decision destroyed a Beaux-Arts landmark, prompting massive historic preservation efforts and creating a cramped, 1960s-era underground facility still in use.
History & Development
Demolition and Construction: The iconic, original Penn Station was torn down starting in 1963. Its "head house" (main building) was replaced by the modern Madison Square Garden arena and a two-office-tower complex known as Penn Plaza.
The Swap: The Pennsylvania Railroad (PRR) sought to monetize its valuable air rights, leading to the creation of the current, smaller, underground station situated beneath the sporting arena.
Legacy: The loss of the original station was a massive scandal, widely cited as the catalyst for the modern historic preservation movement in America.
Current Status & Challenges
Capacity Issues: The current, cramped, subterranean station serves over 600,000 daily passengers, but it was designed to handle far fewer. It is widely considered inadequate for current traffic.
Structural Constraints: The 1960s construction of MSG introduced over 1,000 columns into the rail platforms, severely limiting passenger movement and restricting renovations.
Reimagining Penn Station: As of 2025–2026, there are ongoing, significant efforts to renovate the station, which may involve relocating MSG to maximize efficiency and restore a sense of grandeur.
Penn Central Transportation Company
The Penn Central Transportation Company was a Class I railroad that operated from 1968 to 1976. It was formed by the merger of the Pennsylvania Railroad (the owner of the original station) and the New York Central Railroad.
Reimagining the Space
Plans to move Madison Square Garden across the street to free up space for an expansion of Penn Station are in development, aiming to turn the subterranean, cramped environment into a modern, light-filled hub."

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Relocating Madison Square Garden? lol LOL LOL . ... that proposal's been around for 25 years, no money to pay for it. Who's gonna own it? What do you do with the existing events scheduled during demolition and rebuild. Anyone count the cost of cement and labor in NYC? I think they were squawking at $800 million about 2002. Today? $2-3 billion and up. And what is accomplished?