Word: perlman
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...Chesapeake & Ohio and the Baltimore & Ohio (TIME, May 30). But the C. & O. wanted to go it alone, offered to buy B. & O. stock as the first step toward merger. Last week, as the C. & O. mailed its offer to B. & O. stockholders, New York Central President Alfred Perlman jumped into action. He appealed to the Interstate Commerce Commission to con duct a study to establish new ground rules for Eastern rail mergers, hoping thus to block the other roads moves until he can strengthen his own position. He also said he wants to make an offer...
...Baltimore & Ohio Rail roads, the C. & 0. and the B. & O. an nounced that they plan to merge into the nation's second biggest line-and did not even mention the Central. Last week, with the prim-lipped hurt of the jilted party. Central President Alfred E. Perlman said loudly that the Central wants to be included if there is to be any merger in its neighborhood...
...Pennsylvania and its subsidiaries, said Perlman, are in the process of developing a huge rail complex. Eventually, he went on, there will be only two competitively balanced rail systems in the East, and the Central must be "an inte gral and important part of one of these systems." It expects to take part in any merger worked out by the B. & O. and the C. & O., and even to act "as the base" for such a merger. Merger talks between the Central and the two roads are "continuing," but Perlman wants to be in on the preliminaries...
...modernize the road, Perlman is setting up an electronic control system for the major routes on the Central's 10,450 miles of track, has built three electronically automated freight yards. This year he plans construction of two more electronic yards, which cut switching time in half, speed shipments by as much as a day. Under Perlman, the Central has also introduced a coordinated rail-highway service that uses trailers and flatcars for specialized hauling...
...future, Perlman says, he hopes to build the Central into a "transportation company rather than a railroad." To do this he will need the approval of Congress, which now restricts railroads from diversifying into other transportation fields. But Perlman is confident approval will come. As a step toward diversification, the Central has agreed to buy $5,000,000 worth of notes from the Flying Tiger Line, the nation's largest all-freight air carrier, hopes to coordinate a surface-air service...