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Overview
Between 1970 and 1997, the nation's railroads engaged in corporate mergers in an effort to stem the decline of the industry's market base, increase low return on investments, and counter the deterioration of trackage and equipment. The 73 Class I carriers in existence in 1970 have been consolidated into only 10 today. The recent battle over Conrail is only the most recent and highly publicized example of this trend that resulted from the relaxation of federal regulation. Business scholars, economists, railroad buffs, and anyone interested in transportation and federal regulation will find this book an invaluable tool.
Synopsis
A comprehensive study of the mergers affecting the railway industry from 1970 to the present and the relaxation of federal regulations that contributed to them.
Booknews
An independent historian argues that between 1970 and the middle 1990s, corporate combinations were a panacea for many of the financial and operational problems of the major rail carriers in the US, because the successful operation and financial performance of a company depends on the single variable of access. He bases the study on financial dockets of the Interstate Commerce Commission, reports by federal agencies and congressional committees, and trade journal articles. Annotation c. by Book News, Inc., Portland, Or.