Word: freighting
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Dates: during 1960-1969
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...subsidized by the U.S. Government, Matson had to follow suit when subsidized U.S. shipping lines gave in to frequent wage demands to avoid strikes. Result: labor now accounts for half of its operating costs on freighters and even more on passenger liners. High operating costs have also led to freight-rate rises of 48% since 1957, prompting many Hawaiian businessmen to blame Matson for the island's dizzily high prices and to shop for alternate shipping lines. Containing the Cargo. Powell has modernized the line's management and stepped up modernization of its fleet. Matson has converted...
...billion. As a businessman who believes that even a public service should be able to show a profit, Beeching was appalled by what he found. Fully half of the railways' 17,830 route miles accounted for only 4% of the total passenger traffic and only 5% of the freight; half of the 7,000 rail stations produced only 2% of passenger revenues. Beeching hired away executives from such well-run firms as Unilever and Royal Dutch-Shell, surveyed every British firm that spent more than $28,000 a year on freight. The finding: British business was bedeviled by nearly...
...Isle of Wight or north of Inverness in Scotland. Sparing nothing, Beeching even wants to shut down as uneconomical the station that serves the Queen's Balmoral Castle in Scotland. Earmarked for scrapping are 1,200 of Britain's beloved "puffing billy" steam engines, 350,000 freight cars and 7,800 passenger cars. By taking such measures, Beeching hopes to save as much as $412 million annually and eliminate much of the Railways' deficit by 1970. But with Britain already plagued by rising unemployment, there will be labor pains if his ideas are adopted: he wants...
Though Sandburg's "hog butcher for the world'' is no more (many of the slaughterhouses have moved out), Chicago remains a mercantile and industrial center for the nation. Its wholesale and retail trade runs better than $33 billion a year. The city handles more freight cars daily-26,000-than New York and St. Louis combined, boasts terminals for 20 rail lines. Its motor arteries are clogged by 800,000 truck trips daily. Its McCormick Place is the nation's biggest convention hall, plays host to organizations that spend more than $200 million a year...
...London. By feverish effort, he learned the tangled ramifications of world oil, emigrated to the U.S. in 1941. There, his talents won him a presidential citation for work as a wartime Government adviser. One achievement: pinpointing Nazi oil targets for the Air Force by tedious study of German railroad freight rate reductions. In postwar assignments he had a key role in charting U.S. oil policy, and opened his own one-man consulting service in 1949. His counsel has been sought by almost all major U.S. oil companies, including Caltex, Sinclair. Atlantic Refining and Socony, as well as by foreign firms...