Word: icc
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TROUBLED RAILROADS in East will get $60 million windfall in back mail pay, plus $32 million per year hike in rates. ICC approved 30% boost retroactive to last November, other increases retroactive...
...House passed (348-2) and sent to the Senate a bill to give sick railroaders another couple of pep pills by 1) providing Federal Government guarantees for private loans to rail companies for maintenance and improvement, and 2) letting the ICC, rather than state boards, pass on discontinuance of money-losing services, such as commuter trains that run nearly empty...
...provide for the U.S. to guarantee private loans to the rails (the Senate set a $700 million limit, but the House set no ceiling), 2) give greater power to the Interstate Commerce Commission to reduce service on money-losing routes. 3) tighten up on truckers now exempt from ICC rate regulations. Since chances seemed good that a relief bill would become law within a month, almost all major rail stocks advanced last week. The Dow-Jones rail index closed at the year's high of 119.21, up 19.32 points from the low in January...
POTENT ANTISTRIKE weapon has come from ICC. It ordered truckers and railroads to give pickup and delivery service to customers that are hit by strikes, picketing or labor fights. Rule knocks out labor contracts that permit Teamsters to honor picket lines...
...loans; $500 million would be used to improve plant and facilities, $200 million for new freight cars. For long-term aid, the Administration wants to: ¶ Give the Interstate Commerce Commission power to drop unprofitable passenger and freight runs, and end the power of state commissions to block the ICC. ¶Tighten up on truckers now exempt from ICC rate regulations, since the Administration feels that many cut-rate, "private" truckers are actually public carriers, deserve no exemption. ¶Cut down on rate exemptions for farm produce truckers. Designed to help farmers, the exemptions have been so broadened that many...