Word: icc
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...ICC will face far fiercer opposition than the Civil Aeronautics Board encountered when it carried out its successful deregulation of airfares last year. Alfred Kahn, as CAB chief, had to deal with only 26 airlines, and some of the biggest backed deregulation, judging correctly that lower fares would tempt more people to fly and actually increase their profits. The ICC must contend with 16,600 regulated truck lines-at least one in every congressional district, truckers like to point out-and most are united in the belief that lowering rates and letting new firms enter the business will not generate...
...under its new (since April 1977) chairman, A. Daniel O'Neal, 42, the ICC is now solidly for deregulation. A soft-voiced, informal lawyer (he wears short-sleeved shirts even in January) from Bremerton, Wash., O'Neal learned the ICC's operations as a consumer-minded staff member of the Senate Commerce Committee. He was named to the then eleven-member ICC (since reduced to six) by President Nixon in 1973, but it was not until Jimmy Carter made him chairman that he drew a bead on the set of regulations that had almost stamped out price...
...ICC was given jurisdiction over trucking by Congress in 1935. During the next four decades the ice proceeded to put trucking into the same straitjacket that it had fashioned for railroads. Truck routes were spelled out in minute detail New lines were permitted to enter interstate trade only if they could prove they would provide a service that existing carriers could not. Thanks to an antitrust exemption granted by Congress in 1948 truckers have been allowed to set their own rates, and they have prospered greatly. Indeed, over the past eight years the eight largest truck lines have earned...
...precedent-more than 10% a year. Nobody expects the settlement next year to be quite that high. In the past, trucklines have usually won automatic approval from the Interstate Commerce Commission to raise freight rates enough to cover any wage-and-benefit boost they might grant. Now, the ICC, with Administration support, has served notice that it will not be so generous. The Teamsters also are greatly concerned with maintaining their pension funds. It may help that the Administration has ruled that any increased employer contributions necessary to maintain pensions and some medical benefits at existing levels will not count...
...large degree, Conrail's ills only reflect the wider problems besetting the nation's railroads. Though a healthy rail system is more essential than ever to save gasoline and carry coal, the industry has been held back for years by overregulation by the ICC, which keeps rates high in order to protect inefficient lines-and thus often makes the railroads uncompetitive with rival transport systems...