Word: rea
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...Conscientious conservatives and literate liberals rejoice. DAVID F. REA Manhattan...
Both men would like to shift as much power-and tax money-as possible from Washington back to the states and localities. The difference is that Rea gan thinks that decentralization is altogether more feasible than does Rocky, who has had nine years as Governor in which to learn. During his tenure, Rockefeller has increased aid to secondary and elementary schools by 170%, tripled the size of the state university system, inaugurated a $1 billion program to end water pollution, pushed through a $1.50 minimum wage, and proposed a $2.5 billion program to modernize mass transportation. Though...
Seven Become One. Efforts have frequently been made to vitalize the 128-year-old American institution whose roots go back to the stagecoach. In its present form, REA's history dates to 1917 when, to speed up transportation to the World War I effort, the Government forced the seven major express companies to merge. In 1929 the transportation assets of the amalgam were purchased by the railroads and designated Railway Express Agency. After World War II, the combination began to fail, and in 1959 there was even talk of nationalizing it. Giving in to pressure from Washington, the railroads...
...this helped-but not enough. On sales of $450 million, REA this year is expected to show a loss of $6,000,000-partly because of a spate of wage increases, and partly as a result of decreasing volume. REA now carries only 2% of its traditional specialty, small shipment haulage, while faster, more efficient truckers have cornered virtually all the market. What's more, it is now meeting competition from the Post Office Department's Parcel Post, once forbidden to carry parcels heavier than 20 Ibs., but under new regulations moving into heavier goods...
Property for Sale. Thus it is not surprising that the railroads want to unload. The market for buyers seems to be limited to interests outside the transportation field; a recent bid by Greyhound for a 20% share of REA was knocked down in the courts. The buyer will get 14,000 pieces of automotive equipment, 11,000 trailers, and 7,000 terminals in 50 states. With a new, more flexible approach to the use of those assets, and without the stringent regulations that guide it as a rail holding REA might very well be an interesting property...