 He was succeeded as president of the Pere Marquette, C&O by George D. Brooke; Bernet was succeeded at the Nickel Plate by W. J. Harahan who served until 1937 before himself being succeeded by Brooke.He was greatly admired by his peers for his business acumen and after his death a privately printed biography, with an Appreciation by the Van Sweringens, was brought out.Bernet very strongly encouraged John Carroll University to build a dormitory rather than a gymnasium and when the first dormitory on the university campus was completed in 1935, Bernet Hall was named in his honor.