Word: conrail
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Last week the rail planners tried again. They submitted a revised "final plan" to Congress that becomes effective automatically in 60 working days unless lawmakers derail it. That is not likely. Conrail already has the support of rail management and unions, as well as backing from such big shippers as General Motors and Bethlehem Steel. Some Congressmen are still opposed because rail lines in their districts will be dropped. But opposition generally is poorly organized, and Conrail is expected to begin operations on schedule next February...
Faster Service. The Railway Association promises that its long-awaited plan would transform what it calls "a transportation disaster unparalleled in the nation's history" into a self-sufficient system within this decade. Under the plan, a private but federally backed company called Consolidated Rail Corp. (Conrail) would carry out the largest corporate reorganization in history: it would take over and consolidate the operations of the bankrupt Penn Central and six other troubled roads. Conrail would lop off about 30% of the combined roads' rail network, unless affected states could come up with 30% of the required subsidies...
...owned by other companies in order to make way for speedier, more frequent passenger service. New trains would make the 224-mile run in 2½ hr.-30 min. faster than the present Metroliners. The alternative to its plan, says the association, is nationalization of the seven roads that Conrail would...
Resistance to the Conrail plan, on which Congress will be asked to act this summer, is already building in the states that would be affected. New York's Governor Hugh Carey said last week that the proposal was "utterly unacceptable" because of the routes that would be abandoned. The prospects are for a long, politically charged struggle over Conrail and, while it continues, more infusions of the taxpayers' money into the sick Northeastern railroads. In the same day that the Railway Association presented its proposal, the Senate voted emergency financial aid for the Penn Central and other roads...
...strength of Franquemont's performance, Pickett estimated that the Harvard sophomore stands seventh or eighth among the nation's 147-pounders. The only Ivy League competitor to place in the meet was Conrail's Geoff Stevens, sixth...