Word: railroads
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Dates: during 1980-1989
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...same time, they were developing a taste for nationally recognized brands and designer-name merchandise because these goods symbolized higher quality, not to mention status. It was not long before consumers discovered that they could get name-brand goods more cheaply in the converted warehouse near the railroad tracks than they could in the slightly shabby downtown store where Mother had always shopped...
...general strike, which had been called by the two General Confederations of Labor, umbrella union organizations that are dominated by Peronists. At dawn, when supply trucks are normally bustling through the center of Buenos Aires, the streets looked like a scene from the film On the Beach. The railroad stations that are usually teeming with commuters seemed like vast caverns, and airports were closed to all but military traffic. Shops, offices, cinemas and most restaurants were shuttered. In the industrial belt, factories lay idle. By the union's estimate, some 8 million people took part in the strike...
Several seemingly minor imbroglios kept relations icier than ever. Consider the Hukuang Railroad bonds affair, a legal chestnut dating back to securities issued by the imperial Chinese government in 1911. Last year a U.S. district court in Alabama issued a default judgment against China to the tune of $41 million owed on the bonds. When the U.S. granted political asylum to the young Chinese tennis star Hu Na in April, the Chinese bristled and cut back on a whole range of cultural exchange agreements...
Only a decade ago such big deals would never have been seriously considered for fear that Government antitrust officials would stop them dead. But the merger plans announced last week by two pairs of leaders in the railroad and steel industries have a good chance of winning Washington's approval. With Smokestack America in a period of decline and retrenchment, the Reagan Administration tends to look favorably on consolidations that could make weak companies stronger. In addition, stiff competition from abroad has made the antitrust laws increasingly irrelevant for many important industries...
...blighted Chicago neighborhood and once sold peanuts, baby pictures and encyclopedias, Schmidt is considering an effort to buy Conrail, the big Government-owned Eastern system, and link it to the Southern Pacific and the Santa Fe. That grand plan would put Schmidt in charge of the largest U.S. railroad and the first transcontinental line owned by a single company. -By Charles P. Alexander. Reported by Lee Griggs/Chicago and Russell Leavitt/Los Angeles