A former Conrail gondola car in tow. Elmwood Park Illinois. May 2008., a photo by Eddie from Chicago on Flickr.
Although railroads can sometimes be swallowed up in mergers and takeovers by other railroads that seek expansion, cars from those previous "Fallen Flag" railroad companies could still be found on freight trains for several years after the fact.
Conrail was divided in two by an unusual merger and takeover by the Norfolk Southern and CSX Transportation Company in 1999. Although Conrail did become a bit of a modern fallen flag railroad, this former Conrail steel gondola car is viewed passing through Elmwood Park Illinois 9 years after the merger.