Word: rail
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Dates: during 1960-1969
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Credit to Boot. The counterpoint to all this is played by Chicago's economic activity. Its geography, from the city's birth, made Chicago a key factor in trade. As rail lines marked it like tracer bullets, it became a Goliath, took on even more muscle when the St. Lawrence Seaway opened still another economic channel...
...many of the slaughterhouses have moved out), Chicago remains a mercantile and industrial center for the nation. Its wholesale and retail trade runs better than $33 billion a year. The city handles more freight cars daily-26,000-than New York and St. Louis combined, boasts terminals for 20 rail lines. Its motor arteries are clogged by 800,000 truck trips daily. Its McCormick Place is the nation's biggest convention hall, plays host to organizations that spend more than $200 million a year in Chicago. Its share of the gross national product is $28.7 billion. Its steadily climbing...
...four recommend that any rail or air merger should be judged in terms of whether it 1) threatens to reduce competition and thus inconvenience the traveling public, 2) makes a merged company so strong that it might injure its competitors, or 3) would be a more efficacious solution to the carrier's ills than bankruptcy or dissolution...
Though the CAB and ICC are technically independent agencies, the Administration's downbeat attitude towards merger: is bound to have an effect on them. The proposed airline mergers would create lines substantially more powerful than most of their competitors, and the chief aim of the rail mergers is to cut costs by eliminating jobs and duplicate facilities...
Wirtz compared the current era of labor-management crisis* with the period just after World War I. the sitdown strikes of the 1930s. and the coal-rail-steel strikes of the late 1940s. Said he: "It doesn't matter any more, really, how much the hurt has been real, or has been exaggerated. A decision has been made. And that decision is that if collective bar gaining can't produce peaceful settlements of these controversies, the public will...