September 12, 1987
The Staggers Act of 1980 greatly reduced regulation of freight-hauling railroads' rates and routes. With one big exception, this rail deregulation has generally served the nation well. Railroads promptly trimmed costs and improved productivity to make themselves competitive with trucking companies for the delivery of many goods. As a result, the rail industry says average rail-freight costs, adjusted for inflation, have dropped 5.1 percent since 1980. And after years of bankruptcies, America's railroads are turning modest profits: Major railroads' return-on-equity was 2.1 percent last year and 6.8 percent in 1985, the industry says.
October 24, 1993 |
Russian President Boris N. Yeltsin said he instructed his army yesterday to get ready to help guard Georgian railroads from rebels threatening to cut the vital supply lines. It was the strongest statement yet of Russia's commitment to get involved in Georgia, where leader Eduard A. Shevardnadze has been fighting two insurgencies. Russian troops and armored vehicles were patrolling roads last week along stretches of Georgian railroad affected by the civil war. The railway connects Black Sea ports to the Georgian capital of Tbilisi and landlocked Armenia.
July 8, 1987 |
The nation's freight railroads could suffer serious economic hardship if Congress re-regulates the industry, a senior Reagan administration official warned here yesterday. Matthew V. Scocozza, assistant secretary of transportation, said the threat of re-regulation comes just as the railroads are beginning to enjoy the benefits of the 1980 Staggers Rail Act, which ended decades of federal control of rates. "We don't realize how dangerous the atmosphere is in Washington toward re- regulation," Scocozza said in a spirited speech to the Penjerdel Council in which he defended transportation deregulation of all kinds.
October 22, 2015 |
WASHINGTON - Railroads would get at least three more years, and as many as five, to finish a long-awaited rail safety upgrade and could face fines if they miss their benchmarks under a plan unveiled Tuesday and expected to advance in the U.S. House this week. The proposal - which has bipartisan House support - is the newest to give major freight and passenger rail lines more time to install Positive Train Control (PTC), a safety system that government experts say could have prevented the May Amtrak crash that killed eight and injured more than 200 in Philadelphia.
August 21, 1989 |
When Conrail's strategic planners determined earlier this year that it should invest some of its $650 million cash hoard in other, rail-related businesses, $44 million found a home in a company with deep Philadelphia roots. The investment was made in Trailer Train Co., now based in Chicago, a service owned by Conrail and other railroads and largely unknown to the public. But as obscure as it may be, the company might have played a key role in lowering the price and cutting the delivery time of the last automobile, piece of clothing or VCR you bought.
August 19, 1989 |
Bibliophiles partial to trains may wish to make tracks to Thursday's book sale at Freeman/Fine Arts. More than 40 lots comprising 275 books and magazines devoted to railroads will be featured at the sale, as well as prints, property atlases and photographs. While none of the publications is particularly valuable, together they reflect a time when railroads dominated America's consciousness. There are histories of railroads famous and obscure, including The New Haven Railroad, Its Rise and Fall; The Ma and Pa, a History of the Maryland and Pennsylvania Railroad, and The Unique New York and Long Branch.
June 18, 1986 |
Most major U.S. railroads are expressing interest in investing in Conrail if stock in it is sold to the public through a group led by the United Transportation Union (UTU), the union's president testified yesterday. The major railroads selected a spokesman to represent them in promoting the plan and had intended to publicly declare their support for it at a House subcommittee hearing, UTU president Fred M. Hardin said. But the railroads apparently bowed to pressure from "high-ranking" Reagan administration officials to withhold their endorsement of the UTU scheme for a while longer, Hardin said.
November 10, 1989 |
The former head of the Federal Highway Administration yesterday said that a big battle was about to erupt in Congress over federal transportation spending and warned railroads they would be the losers unless they lobbied more effectively. Ray Barnhart, who ran the administration from 1981 to 1987, urged railroads to join motorists in trying to convince Congress that more federal tax dollars should be spent on rails and bridges used by both passenger and freight trains. If railroads don't act soon, their competitors in the trucking industry may persuade Congress to allow the use of heavier and longer trucks, Barnhart told a conference of railroad prople here.
December 14, 1987 |
Joseph B. Muldoon, a noted utilities and railroads analyst, died Saturday. He was 67 and lived in Ardmore. "Railroads were one of his great passions," said his son-in-law, Steve Friedman. "He took trains all over the country. Railroads, his family and Jerome Kern. " A member of the research department at the Philadelphia brokerage firm of Janney Montgomery Scott and a chartered financial analyst, Muldoon was a kindly man with a ready wit. He was remindful both in temperament and appearance of "Santa Claus in a three-piece suit.
December 21, 1999 |
In a move likely to rile shippers suffering because of two recent troubled rail deals, two more big railroads agreed to merge yesterday. Burlington Northern Santa Fe Corp. and Canadian National Railway Co. said they would come together to create North America's largest freight railroad in a deal worth more than $6 billion. The new company, to be called North American Railways Inc., would create a transcontinental route linking Halifax, Nova Scotia, in Canada with the western United States.