Word: freights
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Dates: during 1970-1979
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REDUCE REGULATION OF FREIGHT. Railroads should be set free to charge any freight rates they wish, subject only to minimum supervision to guard against blatant discrimination. The present structure of rate regulation is a hangover from the 19th century, when railroads were big, rich monopolists. Today, intense competition from trucks, airlines, barges, pipelines-and the pressure of large shippers who often have much more financial clout than the railroads -can be trusted to "regulate" rates...
...outside sources of supplies and military aid. Last week the city was at times completely isolated on the ground, with all major highways and railroads closed down by Communist troops and blockades. The train route to Bangkok was severed when Communist troops halted two trains, one a heavily loaded freight, the other carrying passengers. They carried off 200 tons of rice, forcing the passengers to act as porters, then destroyed both locomotives with B40 rocket blasts. That line also runs through the provincial capital of Battambang, where most of Cambodia's rice reserves are stored in warehouses. Heavy fighting...
About thirty T-shirted freight men carried heavy packages from the side door of Saks Fifth Avenue into delivery trucks. I watched for a while as they sweated and swore, and finally I walked inside with a friend. My eyes went blurry for a second as my body had to change from a wet 85 degrees outside to an air-conditioned 70 degrees inside. "It's not so bad once you get used to it." my friend said. She explained that she used to work there ("That's the stock room we used to call the refuge from the glue...
...Transportation Co. was in precarious financial condition. The nation's largest railroad and its parent corporation, the Penn Central Co., are among the wealthiest companies in the U.S. (assets: $7 billion). But the railroad is burdened with debt, beset by spiral ing costs, tangled operations, a drop in freight shipments and the $100 million annual drain of unwanted passenger service. As a result, a convulsion last week shook the once-mighty Penn Central and spread deep concern among leaders of business and Government...
Central's costs soaring, while Government rate regulation kept a lid on fares and freight charges. (Last week the torpid Interstate Commerce Commission finally approved a 5% increase in freight rates that Saunders bagan begging for last winter.) In two years, the cost of a new freight car rose 37% and the payroll went up by 18%. Despite revenues of $1.8 billion, the railroad lost $56.3 million in 1969. The company fared even worse in this year's first quarter. Staggered by severe winter weather, rising local taxes, declining factory output, and strikes in coal and other industries...