Word: millions
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Dates: during 1960-1969
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Expenses for the combined railroads are not likely to fall quickly. The bill for consolidating track and freight yards will amount to millions. And the Penn Central has also promised a $25 million loan to the New Haven Railroad to bail out its money-losing passenger services until the merged roads include the New Haven in their system. But eventual savings from joint operations may reach $100 million a year. And additional revenue sources are being tapped. Last week Perlman announced that a lease agreement had been signed with a British investment group which plans to build an office building...
...ground, work is frustrating for the 300 native laborers and their supervisors. Bulldozers slop through red clay so slippery that they have to winch their way downhill as well as up. The biggest challenge is laying the pipeline, which will cost Texaco and Gulf about $50 million. Machete-wielding workers are helicoptered into the jungle to clear the land for the disassembled bulldozers that follow. Then pipe is dropped in. Four 3,600-h.p. diesel pumping stations are being constructed to boost the oil up the mountain...
...pumping an average of 2,000 bbl. daily. Best guess is that the pipeline's top capacity of 100,000 bbl. a day will not be sufficient and that a parallel line will have to be constructed. Estimates place the cost of the total project at about $100 million before the first drop of crude oil reaches Tumaco tankers...
...licenser, Avis Transport of Canada Ltd. still needles Hertz with its "We try harder" buttons. Avis in Canada tries so hard, in fact, that it can no longer continue its underdog promotion and bill itself as No. 2 in the auto-rental business. With gross revenues of over $17 million in 1967, Avis is now No. 1 in Canada...
...Federal Government was the only source of insurance for home loans, chiefly through the Federal Housing Administration. Today, seven private companies are successfully challenging that monopoly. The oldest and by far the largest, Milwaukee-based Mortgage Guaranty Insurance Corp., has not only grown into a thriving concern with $50 million of assets and $3.5 billion of insurance in force, but has also spread its operations into 46 states, the District of Columbia, Canada and Australia...