To the 100,000 long-suffering commuters who ride in & out of Manhattan on the dependably undependable Long Island Rail Road, the line is the target of countless bitter jokesmany founded on fact. In their time, the Long Island's trains have been delayed by stray dogs, wet leaves on the tracks, and sea gulls short-circuiting transformers. Its trains sometimes take the wrong switch and "get lost." Last week the comedy was taken to court. The Long Island's officers marched into Brooklyn's Federal Court and declared the road bankrupt, the first U.S. Class 1 railroad to do so in four years.
Only...