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In
November 1986, Crane delivered a check for $ 200 million to President Ronald Reagan. By that spring, Conrail paid an additional $ 100 million to the government. In March 1987, the government sold Conrail in a public stock offering. Investors on the New York Stock Exchange quickly snapped up 58,750,000 shares of Conrail; the sale netted $ 1.58 billion. Crane later saw Conrail sold to two rival bidders, Norfolk Southern and CSX, for more than $ 10 billion (five times the price for which the Reagan Administration had been willing to sell the railroad).
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unprofitable rail lines and set their own freight rates, it was under Crane's leadership that
Conrail truly became a profitable operation. In the two years after he took office in 1981 he shed 4,400 miles from the Conrail system, which accounted for only 1% of the railroad's overall traffic and 2% of its profits while saving it millions of dollars in maintenance costs.
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In 1983, Crane began a five-year battle with
Transportation Secretary Elizabeth H. Dole to hold onto Conrail. Crane was an outspoken critic of Dole's proposal to sell the rail system to Norfolk Southern Corporation, and fought for a public stock offering to return the railroad to the private sector.
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in 1981, where he presided over the turnaround of the deficit-plagued railroad, which began turning a profit as a result of
Staggers Act freedoms and its own managerial improvements under his leadership. While the Staggers Act helped immensely in allowing all railroads to more easily abandon
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In 1962, Crane married Jean Eward. They had twins, Pamela and
Penelope. That marriage ended in divorce in 1976. Jean Crane died in 1998. Stanley Crane was married to Joan McCoy from 1976 to 1999. He died of pneumonia on July 15, 2003, at a hospice in
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for pioneering in the application of modern and creative engineering concepts to more productive railroad equipment and operations.
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263:(1991–present). was amongst the first three fellows elected to the Society of Engineering Science in 1975 together with
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In 1989, Conrail established the L. Stanley Crane chair at George
Washington University College of Engineering.
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List of members of the
National Academy of Engineering (Industrial, manufacturing, and operational systems)
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where he later endowed the L. Stanley Crane Chair of engineering in applied sciences at his alma mater,
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Dr. Liebowitz was dean of the School of
Engineering and Applied Science from 1968 to 1991.
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in 1981 after a distinguished career that had seen him rise to the position of CEO at the
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The endowed L. Stanley Crane professorship of engineering in applied science at GWU
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George
Washington University School of Engineering and Applied Science alumni
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L. Stanley Crane has announced publicly he plans to retire at the end of 1988
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Phillips, Christopher (March 1994). "This
Railroad Is Building Up Speed".
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288:. He was 87. Crane is buried in the Fort Lincoln Cemetery, Maryland.
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This article is about the railroad executive. For the bird, see
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Industrial, Manufacturing & Operational Systems Engineering
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and contributions to the engineering literature in this field.
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for his leadership in the management of research programs in
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in 1978. After retiring from Southern Railway, he worked for
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Members of the United States National Academy of Engineering
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in a "Tribute to W. Graham Claytor, Jr." published May, 1994
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was elected a fellow of the Society of Engineering Science
631:(Spring 1986). "America's Most Noteworthy Railroaders".
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quotes from article by journalist Don Phillips of the
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L. Stanley Crane Dies; Ran Southern Railway, Conrail
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List of GWU Professors & Stanley Crane Professor
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of engineering in applied science was first held by
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534:Aerospace Engineering and Mechanical Engineering
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243:The endowed L. Stanley Crane professorship
139:(September 7, 1915 – July 15, 2003) was a
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739:20th-century American railroad executives
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183:degree in 1938. He began his career with
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744:American people in rail transportation
602:The endowed L. Stanley Crane professor
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256:(1989-1991) and then by the chair of
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461:L. Stanley Crane was elected in 1978
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463:as a member of the United States
226:In 1989, Conrail established the
764:Deaths from pneumonia in Florida
239:The George Washington University
177:The George Washington University
109:The George Washington University
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530:National Academy of Engineering
465:National Academy of Engineering
193:National Academy of Engineering
157:National Academy of Engineering
729:Businesspeople from Cincinnati
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129:Consolidated Rail Corporation
734:American railroad executives
484:Kiplinger's Personal Finance
165:George Washington University
155:, Crane was elected to the
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302:W. Graham Claytor, Jr.
235:College of Engineering
80:Boynton Beach, Florida
189:Pennsylvania Railroad
749:American railroaders
538:structural mechanics
393:A. Paul Funkhouser (
181:chemical engineering
564:Ahmed Cemal Eringen
526:was elected in 1975
294:Business positions
265:Ahmed Cemal Eringen
629:White, John H. Jr.
606:Fellow of the IEEE
558:2017-08-07 at the
381:Frank E. Barnett (
360:James W. Germany (
347:Richard D. Sanborn
175:He graduated from
141:railroad executive
119:Railroad executive
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412:Succeeded by
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153:chemical engineer
137:Leo Stanley Crane
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16:(Redirected from
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308:L. Stanley Crane
299:Preceded by
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258:Computer Science
254:Harold Liebowitz
251:engineering dean
204:Southern Railway
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249:'s former
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53:1915-09-07
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195:in 1978.
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556:Archived
426:See also
99:American
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353:Awards
338:Conrail
286:Florida
233:in the
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200:Conrail
179:with a
161:Conrail
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63:, U.S.
651:JSTOR
409:1983
376:1974
659:OCLC
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604:and
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69:Died
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532:in
467:in
416:CSX
247:GWU
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