Word: icc
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...Commission, none are more eager to unite than the Pennsylvania Railroad and the New York Central. The Central lost $4.4 million and the Pennsy $1.1 million during 1963's first half. Both badly need to strengthen their competitive positions, particularly since the rich Chesapeake & Ohio has already gained ICC approval to control the Baltimore & Ohio, and the well-run Norfolk & Western appears certain to win an O.K. to merge with the Wabash and Nickel Plate...
Appearing before the ICC, Assistant Attorney General William H. Orrick Jr. surprised his listeners by attacking the Pennsy-Central proposal as a blow against "beneficial rail competition." Basing its stand on a report of a presidential advisory group on mergers, the Administration argued that the two lines should remain separate so that each may serve as a framework for future consolidations with smaller carriers. The smaller carriers would probably include the New Haven and the Boston & Maine, which are both in such a sorry state that no one wants to merge with them...
...chairman, Stuart Saunders, 54, who had taken over the line on the very day of Orrick's pronouncement, and the Central's President Alfred Perlman denounced the Administration's stand as "impractical and unrealistic." The final decision about the merger is still up to the independent ICC, but the Administration will probably be able to make its stand stick. Before year's end President Kennedy will appoint two new ICC members, thus gaining a majority of supporters on the eleven-man commission before the Pennsy-Central proposal is put to a vote...
That left the responsibility for preventing a strike right in the lap of Congress, where President Kennedy had tossed it six weeks ago. Kennedy had urged that Congress empower the Interstate Commerce Commission to arbitrate the railway dispute. But the unions, insisting that the ICC is dominated by prejudiced members, lobbied frantically against the President's proposal. The result was that the Senate Commerce Committee dumped the Kennedy plan, substituted its own version...
...task we would have asked you to give us, but I think we are qualified. We have the staff, the procedures for handling parallel matters; this is not foreign to our experience. We are prepared to give it the priority that is called for." But the ICC also has long had a reputation for painfully slow motion...