Word: freight
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...bankruptcies, and the outlook for 1976 is even better. Railroad profits for the first half of this year, Santa Fe reports, were $20.2 million. In the lagging first six months of last year the line posted earnings of only $9.9 million before making up for lost time with increased freight rates and a burst of new business in the second half...
...that management is "dedicated to running a first-class railroad." To that end, the Santa Fe recently opened a $50 million switching yard in Barstow, Calif., that it claims is the most advanced in the nation; in only two moves, the "humpmaster" (who determines route priorities) can automatically switch freight cars to 16 holding stations. The railroad was also the first to install a locomotive simulator to train its engineers (who now include seven women), and it uses a computerized central information system to make the most efficient use of locomotives...
Good Track. The Santa Fe is also the only railroad to have run a freight train-the Super C-at 80 m.p.h. "To do that," says Reed, "you have to maintain your track pretty darn well." Unlike many other railroads, the Santa Fe spends money heavily on keeping its roadbed in good repair even in bad times. Says Operations Vice President Larry Cena: "You can't just be doing maintenance work when business is good. That's when you need the plant." During the Russian wheat sales boom in 1973, the Santa Fe picked up much extra business...
...foreign currencies worth some $3.7 million-a robbery second in size, in Britain, only to the famed $7 million Royal Mail coach grab of 1963. The latest theft was carried out in broad daylight at Heathrow Airport, and it was acutely embarrassing to a U.S.-owned security and air-freight firm, Purolator Services Ltd., which frequently ships large quantities of currency...
Executives of the crisis-prone Lockheed Aircraft Corp. are well aware of the risk in seeing a light at the end of the tunnel: they can never tell when it might be another freight train heading Lockheed's way. Last week, however, the light that Chairman Robert W. Haack saw turned out to be for real. Lockheed's 24 creditor banks approved a plan to restructure the company's debt in a way that clearly eases the aerospace giant's financial woes, though it does not solve them...