Word: railroads
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Dates: during 1960-1969
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Behind the ICC decision was the hard fact that the railroads' case was economically-if not politically-persuasive. Industry representatives noted that the last general freight-rate hike came in 1960, when the ICC authorized a paltry 1.5% increase. Since then, operating costs have soared. So far this year, eleven railroad unions averaged 6% wage boosts, and six shop unions, led by the militant International Association...
...hardly afford to leave Wuhan in the hands of their enemies. The fifth largest city in China, Wuhan (pop. 2,800,000) is really three cities-Hankow, Wuchang and Hanyang-and is the Chicago of China-the transportation hub of the vast country. Its great double-decked vehicular and railroad bridge is the only span across the 3,100-mile length of the Yangtze between Nanking near the coast and Chungking in the western mountains. It is also one of Communist China's key industrial centers, pouring a quarter of the country's steel and producing such important...
...practically all major industrial programs. Only military expenditures were increased, by $140 million to an estimated $1 billion, exclusive of some of the hidden barter arrangements with the Soviet bloc. Nasser also increased the price of beer (by 50 a bottle), cigarettes (50 a pack), long-distance bus and railroad fares and admission to movies...
...TRANSPORTATION. Railroads, even recently lucrative ones, showed a drop for the quarter. The Pennsylvania Railroad and the New York Central, still waiting to merge, each had lower earnings for the half-year (although the Central managed to move out of the red in the second quarter), while a drop in car-loadings affected healthier lines like the Norfolk & Western, Southern Pacific, Union Pacific, and the Atchison Topeka & Santa Fe. Airlines were mixed...
...taking over. Big corporations such as ITT are increasingly joining forces with builders-often by merger, sometimes through joint ventures. Last year, for example, Westinghouse Electric acquired Florida's Coral Ridge Properties and is now busy building a city for 60,000 residents near Fort Lauderdale. Pennsylvania Railroad's Macco Realty Co. is developing an 87,500-acre Rancho California community near Los Angeles with Kaiser Industries and Kaiser Aluminum & Chemical Corp. American Standard Inc., the nation's biggest plumbing manufacturer, this year joined a 4,500-house venture in California's Ventura County...