An efficient, prospering Conrail is ready for the ax tomorrow
Article Abstract:
Conrail, which has been performing like never before on its final year as an independent railroad, will be voted for sale by the US Surface Transportation Board on June 8, 1998. In spite of the distractions from losing a takeover battle in 1997, Conrail is listing record profits as well as a cost-to-revenue ratio and does not have to worry about shareholders or politicians. A recent quarterly study by Rail Business affirms that Conrail jumped to first place from third in overall on-time rankings based on scores by forest products, coal, grain, automobile and metal shippers.
Comment:
Has been performing like never before on its final year as an independent railroad before being voted for sale on 6/8/98
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Strike shuts down Conrail 10 hours
Article Abstract:
Conrail maintenance workers has delayed the firm's operations for 10 hours in an effort to protest the employment of an outside contractor to improve track in Marysville, OH. The workers' action disrupted operations in seven Amtrak trains and some commuter rail operations as well as the duties of train dispatchers, locomotive engineers and conductors. The Philadelphia-headquartered Conrail also saw most of its early morning shift and part of second shift delayed with discontinued operations of its freight trains, according to spokesman Rudy Husband.
Comment:
Maintenance workers has delayed the firm's freight operations for 10 hours
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Deal to dismantle Conrail gets official OK
Article Abstract:
Conrail's separation from the rest of six bankrupt northeastern railroads has been formally authorized by the US Surface Transportation Board. The board confirmed an earlier vote allowing CSX and Norfolk Southern to jointly buy the Philadelphia, PN-based freight railroad for $10.3 billion to be divided among themselves. The dismantling will de done later in 1998 if and when the regulators are satisfied with plans for a smooth transition including labor agreements and equipment. Conrail will continue to operate as a separate system for the meantime.
Comment:
Dismantling from the rest of six bankrupt northeastern railroads formally authorized by the US Surface Transportation Board
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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