Word: icc
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...merger was first proposed in 1957, formally agreed on last year after extensive ICC hearings. It seemed so imminent that Pennsy and Central executives began working out the details of what jobs to start phasing out. Workers were even photographed symbolically shaking hands. Since then, the deal has been sidetracked by complaints, confusion and court suits at increasingly higher levels. Last week another delay was ordered at the highest level of all. The Supreme Court, acting on a plea for protection by three smaller railroads-the Erie-Lackawanna, Delaware & Hudson, and Boston & Maine-agreed with the complainants...
Thin as a Ticket. The margin of the decision was about as thin as a rail road ticket: the vote to delay the merger until the ICC devises proper protections for the little railroads...
...country." The big question was what would happen to the small complainants in the face of strengthened competition. Most railroad men assume that all three will eventually be included in another merger under consideration, that of the Norfolk & Western and the C. & O.-B. & O. But the ICC, maintained Clark, "erred in approving the immediate consummation of the [Penn Central] merger without determining the ultimate fate" of the smaller roads...
...Burlington & Quincy and the Denver & Rio Grande Western) that operate the Zephyr's 2,500-mile-long trip between Chicago and San Francisco. In turning down Western Pacific's request to discontinue its portion of the run-from Salt Lake City to San Francisco and back-the ICC cited assets that have long enchanted Zephyr passengers...
...about the U.S. railroad-passenger system that such a train could lose money -which it does. Western Pacific expects to drop $560,000 on the Zephyr this year, largely because of rising labor and maintenance costs. Conceding that the train "imposes a substantial economic burden on Western Pacific," the ICC nonetheless expressed optimism that the financial picture may gradually improve. One possibility: giving Western Pacific an increased share of the revenues collected jointly by the Zephyr's three operating railroads...