This is the 1976 to 1997 story of the Consolidated Rail Corporation, widely known as Conrail. It was created from the bankrupt Penn Central and a number of other bankrupt northeastern roads in 1976. We bring the early years of rebuilding, and the later years of a successful operation, that surprised nearly everyone. Everyone that is except the committed employees and the leadership Conrail had during its four phases of existence. This was like a four act play -- with every element needed to make a great story that will be studied by business analysts and rail historians for years to come. The four principal phases of Conrail's existence each had a CEO from a different business background that helped forge Conrail into a valuable operation.