Word: bankrupts
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...Bankrupt Railroads...
...even Shanker's foes concede, as does Director David Seeley of a citizens group called the Public Education Association, that Shanker is "a very smart man who sees a lot further than other people." Since the power over bankrupt city schools is shifting increasingly to the state government, Shanker is moving to create a statewide union -and it is likely that his ambitions do not stop there. With similar merger talks now under way in Michigan and Rhode Island, Shanker speaks openly of hoping to organize the bulk of the nation's 3,000,000 school and college...
...remember the times we used to joke about the buildings being designed like motels so that they could be sold easily if the school ever went bankrupt. But no one thought they would...
...maneuverings went bankrupt in 1940 when he received no new deals from FDR and endorsed Wendell Wilkie, the Republican candidate. Convinced that labor would get concessions from that did, this was Lewis's only trump card to ensure CIO's Independence. Other alternatives were very few, but to ask labor to abandon FDR was going too far despite Mortimer's lack of faith in the President. "If, in his efforts to get the economy back and functioning, a few crumbs in the form of WPA and CCC fell to labor, it was incidental and not because FDR was basically...
Five of the nation's 69 Class I railroads-the major companies that account for 99% of rail traffic-already are bankrupt. The Interstate Commerce Commission last month listed another twelve, including the Chicago and North Western, Erie Lackawanna and Rock Island, as "marginal," meaning that they could go broke at any moment. As a whole, the industry is making money, but pitifully little. Railroad net income in 1971 totaled $355 million, or 2.7% of revenues-and much of that came from non-railroad operations. That is not enough to attract the loan money necessary to repair and modernize...