Word: railroading
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Dates: during 1970-1979
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...admired, Kaku-san was never able to free himself of the whiff of financial scandal. Typical was the Shinano-Gawa riverbed case of 1964. A nameless company bought an abandoned tract of dry land in the Shinano River, then made a killing later on when the government revealed railroad and highway projects that caused land prices to skyrocket; the company also turned out to have a former secretary to Tanaka on its board of directors. Though accused repeatedly of corruption, Tanaka until last week always managed to avoid legal action. But in November 1974, an exposé of his kinken...
Johnny Mercer wrote and Judy Garland belted out those lyrics in 1946. Now, many of the songs written about railroads are nostalgic goodbyes, but the whistles are still blowing on the Santa Fe. The railroad, which operates 13,000 miles of track from Chicago through the Southwest to California, is big, modern and-a rarity these days-profitable...
...excessively profitable, to be sure. As a little old prospector is surprised to learn on one of the line's TV commercials, the railroad is now only one operation of Chicago-based Santa Fe Industries, Inc., which has diversified into such ventures as oil, lumber, pipeline operations and trucking. Last year railroading accounted for more than $1 billion of Santa Fe's $1.4 billion revenues, but only $51 million of the larger company's $150 million profits. Still, that was a creditable performance in an era plagued by railroad bankruptcies, and the outlook for 1976 is even...
...side of the family even to finish high school, has deep roots in the Populist tradition. Populism sprang simultaneously from the soil of the Middle West and the South in the early 1890s. The movement started with small farmers rising up against exploitative big-city manufacturers, bankers and railroad owners. In Georgia, Tom Watson, a brilliant lawyer who later became a U.S. Senator, was telling Southern yeomen that they were "the sworn foes of monopoly of power, of place, of wealth, of progress." In this, however, was the classic American doctrine of opportunity-not anticapitalism, but the insistence that...
...Georgia-to help plan programs on transportation, energy, health, agriculture, education, welfare and so forth. Cost figures will be put on those programs for the first five years, and this would encompass what the Government would do under my leadership. Then, the private sector-the doctors, the schoolteachers, the railroad managers and so forth-can make their own plans accordingly. One of the major problems in the private sector now is that there is no way to project what the Government is going to do next...