Word: fullam
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...charge paid by each railroad. Congress will have the final say, and if it cannot agree on some plan in about three months, the Government's hand may be forced by the federal court that is overseeing the Penn Central's operations in bankruptcy. Federal Judge John Fullam has given the railroad's trustees an ultimatum: devise a viable, Government-approved plan of reorganization by July 2 or start liquidating the line. Even if the Penn Central were to vanish as a corporation, the Government cannot let all its trains stop running. That, says Senator Hartke, "would...
Cornell's first line finally broke Harvard's relentless pressure, clearing their own zone on a perfect three-on-two rush that ended in the Ithacan's third goal. Brian McCutcheon tallied for the Red, knocking in Larry Fullam's centering pass...
...help railroads delay paying their debts while they keep running. Since the start of the Depression, some three dozen railroads have been reorganized under Section 77, and none have gone out of business. The process often requires 20 years. Last week the Philadelphia district court picked Judge John P. Fullam, 48, to handle the Penn Central case...
...Fullam's first big job, after a mid-July hearing, will be to appoint one or more trustees to run the railroad. The trustees will have the power to float new loans to keep the line operating. While waiting for those loans, Transportation Secretary John A. Volpe warned last week, the railroad may have to shut down for lack of cash to meet expenses, which include the $20 million a week payroll for its 94,000 employees. Said Volpe: "I don't believe any of us can say with any degree of certainty if the payroll will...
...woman who was riding in a Buick hardtop that flipped over. The roof collapsed, and the woman contended that it was defective and had added to her injuries. General Motors replied that accidents are not part of the normal and foreseeable use of the car. Judge John Fullam found that defense too narrow. While automakers cannot be required to build a "crashproof" car, he said, "passengers must be provided with a reasonably safe container within which to make the journey...