CEDAR RAPIDS, Iowa — Iowa Interstate Railroad today announced that its founding chairman, Dr. Paul H. Banner, died on June 17 at the age of 102.
Banner was instrumental in the efforts to save the railroad in 1984 following the liquidation of the Rock Island.
“To describe Paul Banner as a visionary would be an understatement,” said IAIS Chairman Henry Posner III. “The idea of a fourth main line — and an abandoned one at that — between Chicago and Omaha at the dawn of deregulation was considered by many to be delusional. We are proud to stand on his shoulders, which were extremely broad.”
Railroad President Joe Parsons said that Iowa Interstate ES44AC No. 519, named in honor of Banner his 100th birthday, “serves as a reminder of our first Chairman as it moves freight on the line he helped to save.”
“While we send our condolences to the family of Dr. Banner, we remember his many contributions to this company and are very thankful to be able to carry on his legacy,” Parsons said.
Banner held leadership roles at the Southern Railway and the Rock Island.
I recently finished Gregory Schneider’s 2013 book, “Rock Island Requiem” – a detailed analysis of the last decades of that carrier and what happened after it was liquidated. He mentions that Schneider’s doctorate was in economics, which is certainly relevant here and undoubtedly contributed to his success with IAIS. May his memory be a blessing.