Word: railroads
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...daughter Mary to Thomas Morgan, an executive of New York magazine: "The prospective bride is a great-granddaughter of the late John D. Rockefeller and the late Senator Nelson W Aldrich of Rhode Island and, on the material side, of the late George B. Roberts, president of the Pennsylvania Railroad...
Saddles is about a hip black sheriff who must overcome racial prejudice and the machinations of a corrupt frontier political machine. With very little help, he manages to save the citizens of Rock Ridge from being driven away so that a railroad may pass more cheaply through their land. But so what? The important thing is that the chief villain is named Hedley Lamarr, and the actors insist on mispronouncing his name; that at a town meeting an anguished citizen complains that "people are being stampeded and the cattle raped"; that a black labor gang, ordered to sing a Negro...
...easygoing Irish Bostonian who is described by friends as a "fiendishly good domino player," Casey earned a M.B.A. from Harvard and started out as a railroad executive with the Southern Pacific. Later he became a vice president of the railway Express Agency. For the past eleven years, he has guided the Times Mirror into ventures ranging from cable television to the manufacture of flight-training systems. The White House considered Casey for the $65,000-a-year chairmanship of the U.S. Railway Association, a government agency that will administer the recognized Northeast railroads. But American got him for salary, bonuses...
...nation's coal reserves. In addition, Burlington Northern owns 2.4 million acres of timber and farm land in the Great Plains states and has mineral rights to another 6.1 million acres. Those rights, granted by Congress and state legislatures in the 19th century, have endowed the railroad with coal reserves of some 11 billion tons, or about 18 times more than all the coal mined last year...
Name Problem. Yet somehow Burlington Northern has not so far made much money out of this bonanza. Operating revenues have climbed 31% since the merger, to $1.3 billion last year and net operating income has jumped 74%, to $108 million. But the firm's railroad operations are still only marginally profitable. Since the merger, Menk has managed to reduce the firm's payroll by 8% and retire 8,000 obsolete cars. But total labor costs have gone up 48%, and Burlington Northern has lacked the capital to buy enough new equipment to handle increased traffic. Last year...