Railroad Mergers: Hearing Before the Subcommittee on Antitrust, Monopoly, and Business Rights of the Committee on the Judiciary, United States Senate, Ninety-sixth Congress, First Session ... June 11, 1979 |
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agency application approved bankruptcy bill Blanchette BREWER Burlington Northern Capacity captive shipper cargo Chairman Chicago class I railroads Clayton Act Company competitors CONGRESS THE LIBRARY container traffic cost country elevators Court DEMPSEY deregulation economic efficient eliminate employees end-to-end mergers facilities Federal filed flatcars FLEXNER freight grain impact increase intermodal competition Interstate Commerce Act Interstate Commerce Commission intramodal LIBRARY OF CONGRES LIBRARY OF CONGRESS major McQuigg merged merger proceeding million Milwaukee Road Milwaukee's Montana Northern Lines merger O'NEAL operating parallel mergers Penn Central percent Port of Seattle present problem procedure protective conditions public interest question rail carriers rail competition rail industry rail mergers rail service railroad consolidation railroad industry railroad mergers rate of return regulation regulatory Reorganization restructuring result Seattle's Senator BAUCUS Terminal testimony TEUS tion trackage rights transaction transportation truck West Coast
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Page 91 - American Train Dispatchers Association Brotherhood of Locomotive Engineers Brotherhood of Maintenance of Way Employes Brotherhood of Railroad Signalmen Brotherhood Railway Carmen of the United States and Canada Brotherhood of Railway, Airline and Steamship Clerks, Freight Handlers, Express and Station Employes Hotel & Restaurant Employees and Bartenders...
Page 91 - Restaurant Employees and Bartenders International Union; International Association of Machinists and Aerospace Workers; International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers; International Brotherhood of Electrical Workers; International Brotherhood of Firemen & Oilers; International Organization of Masters, Mates & Pilots of America; National Marine Engineers...
Page 29 - Board shall consider at least — (1) the effect of the proposed transaction on the adequacy of transportation to the public; (2) the effect on the public interest of including, or failing to include, other rail carriers in the area involved in the proposed transaction; (3) the total fixed charges that result from the proposed transaction...
Page 62 - In short, the Commission must estimate the scope and appraise the effects of the curtailment of competition which will result from the proposed consolidation and consider them along with the advantages of improved service, safer operation, lower costs, etc., to determine whether the consolidation will assist in effectuating the over-all transportation policy.
Page 65 - Department of Transportation Act". DECLARATION OF PURPOSE SEC. 2. (a) The Congress hereby declares that the general welfare, the economic growth and stability of the Nation and its security require the development of national transportation policies and programs conducive to the provision of fast, safe, efficient, and convenient transportation at the lowest cost consistent therewith and with other national objectives, including the efficient utilization and conservation of the Nation's resources.
Page 6 - Under the new conditions the posture of the Milwaukee, lying largely between the two Northerns and handicapped by limitations at both eastern and western terminals, will be greatly improved. Absent the protective conditions it would continue to be virtually strangled by the unified system; with them the Milwaukee gives prospect of affording substantial competition to the merged lines and will be placed in the position that at its inception it hoped to achieve.
Page 40 - A great resurgence of merger talk has occurred in the railroad and airline industries in the last several years, and major mergers have been proposed in recent months in both industries. The soundness of such mergers should be determined, not in the abstract, but by applying appropriate criteria to the circumstances and conditions of each particular case.
Page 62 - Congress however neither has made the anti-trust laws wholly inapplicable to the transportation industry nor has authorized the Commission in passing on a proposed merger to ignore their policy.
Page 3 - The Financial Collapse of the Penn Central Company. Staff Report of the SEC to the Special Subcommittee on Investigations, August, 1972.
Page 127 - Groves, was called as a witness, and having been first duly sworn, was examined and testified as follows : DIRECT EXAMINATION By Mr.