Word: freight
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Every business student learns in one of his first classes that shipping by water is the cheapest but also the slowest way to move goods. Only those who go on to become freight managers discover that the longest delays nowadays do not occur at sea. Dock congestion around the world has become so common that general cargo ships spend about half their time in port loading, unloading or just waiting-even when the docks are not shut down by a longshoremen's strike...
...begin by using old, rickety ships. The Greeks were also helped by the U.S. Government, which, aiming to revive Greece's merchant marine after World War II, sold them 100 Liberty ships on easy credit terms. Many of the ships were delivered just before the Korean War sent freight rates soaring. Later, in the wake of the 1956 Suez crisis, the Greeks were among the first to order supertankers, which cut costs on the long trip around the Cape. The investment has paid handsomely, and the shipowners have also benefited from the general expansion in world trade...
...Minos Colocotronis, 50, has accumulated 30 ships totaling 1,000,000 tons in just about four years. Instead of placing orders with shipyards and waiting two or three years for delivery, he buys secondhand ships. This protects him against drops in freight rates between ordering and the time of delivery...
...cross-country for disposal in the Atlantic Ocean. After a public outcry, congressional critics succeeded in halting the shipment, pending a study of alternative means of destroying or detoxifying the agent. While the immediate concern is the danger of transporting a deadly commodity by rail at a time when freight derailings are on the increase, the incident served to dramatize far more basic doubts about chemical and biological weapons. Last week President Nixon ordered a thorough review of the program by the State Department, Defense Department and Arms Control and Disarmament Agency...
Gerald Gallagher, 27, University of Chicago, who has written a thesis on how airlines can increase their profit by carrying freight in off-hours, is entering business because "there is just a fantastic opportunity for a person who wants to do something with himself, wants to change things, while at the same time making himself economically free." He will join Metro-Goldwvn-Mayer, where he will start at about $17,000 as manager of planning, a job that will take him into all parts of the company. "I had the opportunity to go into several jobs where it would...