Word: seatrain
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...Seatrain Lines goes bankrupt
...Seatrain Lines, a troubled cargo-ship operator, would have foundered years ago without the aid of a friendly and very wealthy benefactor: the U.S. Government. While an emotional national debate erupted over $1.5 billion in federal loan guarantees for Chrysler, Seatrain has quietly received nearly $450 million in Government financial assistance since 1972. Despite the federal largesse, however, Seatrain last week finally ran on the rocks. Three Italian companies who together were owed more than $1 million by Seatrain pushed it into bankruptcy proceedings...
...Morflot American Shipping Inc. Moram, as the company is known, is a Soviet-owned agency for four of the 16 Soviet lines hauling cargo to and from the U.S. A graduate of the U.S. Merchant Marine Academy, Novacek was once president of Grace Line, then executive vice president of Seatrain Lines. He formed Moram in 1976, and now has a crackerjack sales force of more than 33 salespeople. Novacek runs the agency, according to his own account, in the style of any Western company, drawing up an annual plan for approval from his superiors in Moscow. To charges that...
RECENT bickering between shipping managers and longshoremen (both within mainland-owned firms like Seatrain and Hawaiian companies with large mainland interests) has resulted in several labor strikes that have crippled Hawaii...
TREVOR VEITCH AND ANDY KULBERG. I've yet to hear this promising duet whose musical experience alone should earn them a receptive audience. Veitch played sideman to Tom Rush for five years, and Kulberg is a veteran of both the Blues Project and Seatrain. They played to good crowds at Passim over the summer, and a return invitation so soon augers well for the future...