Word: icc
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...Perlman may have a hard time getting the C. & O. to accept him. In its application to the ICC to merge with...
...Interstate Commerce Commission is on record as favoring railroad consolidations in principle-as the best way to meet the powerful competition of trucks for freight, and autos and planes for passengers. Costs can be cut by eliminating duplicate facilities. Last fall the ICC approved a merger of the Norfolk & Western and the Virginian railroads; last March a commission examiner recommended a merger plan for the Erie and Lackawanna roads. Similarly, the Civil Aeronautics Board is moving toward the view that mergers, not subsidies or new routes, are the best way for the airlines industry to meet the formidable problems...
...reason for the low fares is that U.S. railroads still suffer from the bad reputation earned in the days of the Robber Barons, when, as a monopoly, they often gouged the public. Now, though they are far from monopoly, they find it tough to get permission from the ICC and state utility commissions for fare increases. The Long Island Rail Road, biggest U.S. commuter line, was unable to get a fare hike from 1918 to 1947, despite repeated requests. Other railroads waited too long to press for hikes, let fares over the years fall far behind rising costs. Most claim...
...profitably run a railroad that way either." Railroads are also hobbled by books full of outdated and unnecessary regulations. Last week ICC Member Anthony F. Arpaia, who should know, called the commission "an organizational monstrosity." Both the ICC and state commissions require months or years of hearings before railroads may drop obsolete runs. The New York Central struggled for five years to drop its West Shore line. It was losing $3,000,000 annually-enough, said the Central's president, Alfred Permian, "to have provided a Chevrolet, if not a Cadillac, for each of the less than...
...years the railroads have been hit for hefty taxes by every little town they pass through. They are also prime targets for states such as New Jersey, which, says the ICC, assesses rail property at 100% of value while setting a lower base for other taxpayers. When a railroad repairs a bridge or improves a parking lot, it is not praised, but taxed more heavily. New York City forced the Central to build a new $23 million bridge over the Harlem River in such a way that a new highway could pass under it, then upped taxes on the bridge...