Word: freight
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Dates: during 1950-1959
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...gulf in wage proposals, however, the big fight will still be over union featherbedding. To eliminate featherbedding, the rail companies asked the rail unions to: ¶ Extend the basic day's mileage pay from 100 miles to 160 miles. The 100-mile rate was established in 1919, when freight trains averaged 12½ m.p.h., passenger trains 20 m.p.h. Today it means that a railroader can do his day's work in as little as two hours. ¶ Wipe out the distinction between the work performed by road crews and yard crews, thereby allowing full interchange of labor without...
...become the firm's trademark. Many businessmen agree that Morgan's service is unexcelled. It will do everything from solving the complex problem of establishing the market values of new shares-even though the companies have no established value-to working out a novel method of financing freight cars or oil tankers. After being turned down by several banks, a group of utilities that wanted to finance an atomic reactor turned to Morgan; in a few days, the bank set up the plan to do the job. When General Electric asked Morgan Guaranty to buy up the shares...
...hard body blows. August machine tool orders were down 17.3% to an estimated $52.4 million as manufacturers held off ordering machines until they were sure of having the steel to feed them. Sales of manufacturers, wholesalers and retailers dropped $2.2 billion in August to a rate of $59.5 billion. Freight carloadings were only 74% of normal for this time of year. Assessing the situation, the National Association of Purchasing Agents reported that "the steel strike has lasted too long to enable us to avoid serious dislocations in production. Prospects for good business in the immediate months ahead are tied directly...
Even as the steel strike forced layoffs in many industries (see below), other sectors of the U.S. economy last week were girding for a fourth-quarter surge after the strike ends. Railroad freight-car loadings rose to their highest point since the beginning of the strike and 20.3% above the previous week, reflecting increased coal shipments to steel-producing centers in anticipation of the strike...
...nation's railroads, among the outside industries hardest hit by the strike, have lost 1,340,000 cars of freight since the strike began. Last week the Association of American Railroads estimated that the strike has cost the roads $320 million in revenues through Sept...