Government and the midwest railroads: notes on the demise of the Chicago, Rock Island and Pacific Railroad Company
Journal Article
·
· Transport. J.; (United States)
OSTI ID:6593922
The Chicago, Rock Island and Pacific Railroad Co. declared bankruptcy in 1975. Reorganization efforts after entering bankruptcy are reported. The company sought federal and private funds and revamped its operating procedures to reduce the capital intensiveness of railroad activities. Railroad labor unions balked at the company's new policy to reduce personnel in order to operate a light-density railroad. Strikes created more cash flow problems, and the federal government directed another railroad company to take over operations of the line. Such federal favoring of unions over railroads poses a bleak future for the future maintenance of individual railroad companies.
- OSTI ID:
- 6593922
- Journal Information:
- Transport. J.; (United States), Vol. 19:3
- Country of Publication:
- United States
- Language:
- English
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