Word: northwest
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Dates: during 1970-1979
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Among U.S. railroads, the Chicago & North Western has an unusual characteristic: its commuter trains run on time. Last week it gained an even more remarkable distinction. Ben Heineman's Northwest Industries Inc., the conglomerate that owns the road, agreed to sell out to a new company composed entirely of the line's employees...
...increases in volume and productivity, officers of the employees' company predicted earnings of $81.9 million over the next five years. The line, which is expected to make a small profit this year, has been in the red for the past two years. That was one reason why Northwest Industries' Heineman wanted to sell...
...derides the idea that he dumped the line on the employees when he could not find another buyer. "The employees have been pressing to buy," he says. There is one undeniable benefit for Northwest Industries. Because the line will be sold for less than the book value of its assets, Northwest will get a tax credit estimated as high as $225 million. That should help Heineman's conglomerate speed up its switch into faster-moving areas of business...
...through first by the Eisenhower Administration and later granted on a permanent basis under pressure from President Kennedy and House Speaker John McCormack. What previously was a profitable route for two airlines became unprofitable for three, and the weakest, Northeast, is in the process of being taken over by Northwest Orient...
They could not have imagined what was actually taking place. Gaza One and Haifa One were not headed toward a major airport. Instead, they were on a course toward a broad expanse of flat desert some 25 miles northwest of Amman. After World War II, the British had used the area as a training airfield, and its name?Dawson's Field ?was taken from the British commander who sent units there...