Word: norfolkers
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...polished for its upcoming $466 million merger with another profitmaker, St. Louis' Peabody Coal Co., second largest in the U.S. - The Pennsylvania Railroad, biggest in the U.S., highballed through 1966 to consolidated earnings of $90 million for a 29% gain over 1965. Yet the Pennsy finished behind the Norfolk & Western, which Pennsy Chairman Stuart Saunders once headed and now blames for delaying the Penn Central merger. N. & W.'s profits rose 8.6%, to a record $98 million, even though it paid the Pennsy some $10 million-which accounted for almost half of Pennsy's earnings gain...
...that would be affected by the merger. The ICC, in unanimously approving the Penn Central, ordered it to continue doing business with smaller railroads and to indemnify them for losses because of the merger. Ultimately, all are likely to find a place in a second big merger between the Norfolk & Western and the C. & O.B. & O. But the smaller lines, notably the Delaware & Hudson, Erie-Lackawanna and Boston & Maine, have taken to the court their vigorous protest about the Penn Central merger...
...Nothing to Lose." Pennsy Chairman Stuart Saunders lays most of the blame squarely on the railroad he formerly headed: the Norfolk & Western. "A campaign of delay is being conducted in good part by the Norfolk & Western Railway," Saunders told the Pittsburgh Chamber of Commerce recently. "With everything to gain and nothing to lose, the N. & W. seems to want to prolong as long as it possibly can the tremendous competitive advantages gained from its own merger with the Nickel Plate and Wabash, which has been in effect for more than two years." Saunders called the N. & W. "the Marie Antoinette...
...Norfolk...
...lure of the outer islands is their spectacular scenery. On the oldest and most fertile island, Kauai, spreading Plumiera (frangipani), symmetrical Norfolk pine, fragrant pikake blossoms and the umbrella-shaped monkeypod trees set off lush folded ridges, twisting valleys and cascading waterfalls. Youthful (2,800,000-year-old) Hawaii has arid, cactus-sprinkled, sleepily sloping uplands, rain forests, anthurium and macadamia groves, bizarre moonscapes of rock lava topped by the snow-capped peaks of Mauna Kea (13,796 ft.) and still-active Mauna Loa (13,680 ft.). Middle-aged Maui is dominated by the rugged crater of dormant Haleakala (House...