Word: icc
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...spoke to his friend, President John F. Kennedy, about a matter of interest to the Southern Railway Co. As a result, Kennedy asked his staff to discuss the case with the Justice Department, which decided to support the company in a suit against the Interstate Commerce Commission. Eventually the ICC withdrew an order concerning Southern's grain freight rates that the company believed was not in the public interest...
...federal regulatory hurdle for Heineman, Goodrich in March paid about $2.7 million in stock to buy Motor Freight Corp., a Terre Haute-based trucking company that competes with Northwest on some rail routes. Goodrich then petitioned the Interstate Commerce Commission, urging it to rule that Northwest would need ICC approval for a merger...
...over an 82-year history, its guiding Interstate Commerce Act has become clotted with 200 amendments that run for 425 pages. Johnson Administration economists, testifying in Senate hearings last summer, argued that the ICC was fated to be "a dead hand on industry" and ought to be abolished. Another criticism came last month from the Department of Transportation, which, in a study of rail-merger patterns, scolded the commission for paying scant attention to broad economic questions and for rubber-stamping in "a rather random manner" individual mergers as they come along...
Little Chance. Now the beleaguered agency has a new chief, the first woman ever to boss a U.S. regulatory commission. She is Virginia Mae Brown, 45, a lively brunette and loyal Democrat who was appointed to the eleven-member commission in 1964 by Lyndon Johnson. Having succeeded to the ICC's annually rotating chairmanship this year, she leads a staff of 1,784 that processes about 6,000 cases a year. "Peaches" Brown, as the ICC's $29,500-a-year chairman is known, also manages to take care of two children and make frequent trips home...
...Peaches overhaul the ICC? There is little chance of that. For one thing, the ICC is the only federal agency whose chairmanship is not filled by a long-term White House appointee. Moreover, Peaches is no activist, except for her spirited championing of money-losing rail-passenger service on the grounds that "the public convenience cannot be hamstrung by the tyranny of figures." She and the ICC are hamstrung by a frustratingly fuzzy legal charter that authorizes the agency to prescribe rates, regulate routes and oversee mergers, but prevents it from using individual cases as precedents that could establish overall...