Word: icc
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Another element of the story, the strike of independent truckers, proved equally elusive. Washington Correspondent Jonathan Beaty knew enough of the arcane ICC regulations to know that, say, raisins are exempt from regulation and any trucker is perfectly free to carry them, unless they happen to be covered with chocolate. Such knowledge helped, but Beaty found that the old rules and conventions are under serious attack. Says he: "The independent truckers are trying to blow apart a time-honored system, and that drives the Teamsters, the trucking industry and various politicians and lobbyists right up the wall-all for different...
...known as price fixing, is normally a felony," he wrote. "But the trucking industry has enjoyed a special exemption from the antitrust laws. This immunity allows trucking companies to meet in secret and decide the prices they will charge for truck transportation. Although rate agreements are theoretically subject to ICC review, the ICC has been inclined to rubber-stamp rate agreements rather than subject them to an independent and thorough review...
Trucking companies need certificates issued by the ICC in order to haul certain goods or to operate along certain routes. The ICC normally does not certify owner-operators. "Because regulation permits such high profits and makes operating certificates so scarce," declared Carter in his report, "ICC certificates are bought and sold for enormous sums." They sell for upwards of $20 million...
...proposed legislation suits the deregulation mood of Washington. ICC Chairman A. Daniel O'Neal has been relaxing some trucking regulations over the past two years. Insists O'Neal: "We are not a rubber-stamp commission. This commission is not in bed with the companies it regulates...
...that his powers, like those of every high corporate executive, are severely limited: "Every decision made at my desk is influenced by some and sometimes most of the following: environmentalists, consumers, tax reformers, antinuclear protesters, the constraints of Government, the DOE [Department of Energy], the EPA [Environmental Protection Agency], ICC [Interstate Commerce Commission], the FTC, the state governments, the municipal governments, the effect on inflation, on labor union attitudes, and on the OPEC cartel...