Word: conrail
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Dates: during 1980-1989
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...spent the rest of the night watching T.V. and listening to the radio, trying to find out exactly what had happened to Train 94. There was no briefing for the passengers. I didn't know for sure that the train I was riding in had hit three Conrail locomotives until I talked with my parents on the telephone later that night...
Norfolk Southern, the nation's fourth largest railway, conceded defeat last week in its 18-month-long bid to buy Conrail, the now profitable Government- owned rail system. Early last year Transportation Secretary Elizabeth Dole had selected Norfolk Southern as the best qualified of 15 bidders to buy Conrail's freight-hauling business for $1.2 billion. Last February the Senate approved, and the much bruited merger seemed to be on track...
Then came trouble. Critics in the House of Representatives argued vociferously that the price for Conrail was too low and that a public offering of Conrail stock would reap much more than the private railroad was prepared to offer. Norfolk's concession puts Conrail back on the siding...
...course, in industries where mistakes can cost lives. Since 1975, about 50 train accidents have been attributed to drug- or alcohol- impaired workers. In those mishaps, 37 people were killed, 80 were injured, and more than $34 million worth of property was destroyed. In 1979, for instance, a Conrail employee was high on marijuana at the controls of a locomotive when he missed a stop signal and crashed into the rear of another train at Royersford, Pa. The accident killed two people and caused damages amounting...
...Grass-roots organizations sometimes collide. Lobbyist Jack Albertine recently established the Coalition to Encourage Privatization. Its public policy purpose: to enable private enterprise to run services now performed by the Government. Its more immediate goal: to persuade Congress to sell Conrail to the Norfolk Southern railroad. In the meantime, Anne Wexler has been building the Coalition for a Competitive Conrail, a farm-dominated group pushing for Morgan Guaranty as the prospective purchaser...