Word: icc
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Under the Transportation Act of 1940 the ICC now handles each merger separately...
...last year the government has realized the need for "overall plan and direction" in its approach to mergers. In the last few months the Justice Department has attempted to force the ICC to study all Eastern rail merger proceedings together in order to consider their effect on transportation as a whole. Yet the government has not considered mergers in relation to the most serious problem of all: the railroads' outmoded rate structure, which the ICC has long controlled...
...Lines has asked the Civil Aeronautics Board for permission to merge with moneymaking American Airlines; troubled Trans World Airlines hopes to merge with solid Pan American. Twelve of the nation's major railroads have applied to the Interstate Commerce Commission for permission to enter into regional mergers. The ICC's approval last December of the rich Chesapeake & Ohio's application to take over the hard-up Baltimore & Ohio encouraged railroad and airline executives to believe that the official climate in Washington might be shifting in favor of mergers...
Though the CAB and ICC are technically independent agencies, the Administration's downbeat attitude towards merger: is bound to have an effect on them. The proposed airline mergers would create lines substantially more powerful than most of their competitors, and the chief aim of the rail mergers is to cut costs by eliminating jobs and duplicate facilities...
...Natural. The Railway Labor Brotherhoods are expected to appeal against the consolidation, but the courts have seldom reversed the ICC in a merger case. About the only strong opposition to the move could come from the competitive New York Central, which not so long ago had designs on the B. & O. itself and complained that a C. & O.-B. & O. hookup would leave the Central "holding the bag out on a limb." (The Central started talking merger with the Pennsylvania in earnest only after the C. & O. and B. & O. refused to consider a threeway tie with the Central...