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BUSINESS
October 4, 2000 | From Reuters
The U.S. Surface Transportation Board proposed rules Tuesday that would make it tougher for major railroad companies to merge in light of serious delays and other problems that resulted from recent combinations. New rules would require companies to show how a merger would enhance competition and be more accountable for claimed merger benefits and service promises, the agency said, reversing a 20-year pro-merger stance.
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BUSINESS
December 9, 2001 | Tom Petruno
Don't confuse Jim Stack's relative bullishness on stocks with an endorsement for the technology sector. The editor of the InvesTech market newsletter sees opportunity in the market today--just not among most tech stocks. He shunned those names in their heyday of the late 1990s, and he still thinks it's a mistake to buy most of them, he says, because of the steep competition and excess production capacity in the industry.
NEWS
February 9, 1986 | From Times Wire Services
At least 30 people were killed in a heap of twisted, burning rail cars Saturday when a Canadian passenger train collided with a 114-car freight train in a remote area of western Alberta province, a spokesman for the Canadian passenger service said. "We have been reliably informed that there have been between 30 and 40 deaths," Cederick Jennings, a spokesman for VIA Rail, said in a radio interview from Montreal.
NATIONAL
April 8, 2004 | From Times Wire Services
Investigators examined twisted track and overturned passenger cars Wednesday to figure out why an Amtrak train derailed as it passed through a swamp, killing one person and injuring nearly 60 others. The City of New Orleans, en route to Chicago, jumped the tracks Tuesday night near Flora. Its cars tumbled five or six feet off a trestle about 25 miles north of Jackson.
BUSINESS
April 24, 2001 | Bloomberg News
All not aboard--railroad stocks, that is. Investors who have enjoyed the rally in rail stocks since the Federal Reserve began cutting interest rates in January should sell some of their shares now, Salomon Smith Barney analyst Scott Flower told clients Monday. Rail stocks in the last 20 years have outperformed the Standard & Poor's 500 index in the three to fourth months following an initial rate cut, Flower said, and almost four months have passed since the Fed's first rate cut Jan. 3.
BUSINESS
March 9, 2011 | By Steve Gelsi
Dynegy Inc. warned that it may have to file for bankruptcy this year as it faces debt payments and low prices for the electricity it produces. Dynegy said it may be unable to make debt payments by the third or fourth quarter of this year, according to a regulatory filing late Tuesday. "This condition and its impact on Dynegy Inc.'s liquidity raises substantial doubt about Dynegy Inc.'s ability to continue as a going concern," the company said. Dynegy said it's attempting to amend or replace its existing $1.8-billion credit facility.
CALIFORNIA | LOCAL
April 3, 2010 | By Dan Weikel
Metrolink's board of directors on Friday hired a former railroad vice president with broad transportation experience to replace David R. Solow, the embattled chief executive who became controversial following the September 2008 Chatsworth crash. After a nationwide search for candidates, the commuter rail service selected John E. Fenton as its chief executive. The appointment will become effective April 16. Fenton's salary and benefits had not been finalized and were unavailable Friday.
BUSINESS
February 14, 2001 | JEFFREY JONES, REUTERS
Canadian Pacific Ltd., one of Canada's biggest and oldest companies, elated investors Tuesday by saying it will split into five publicly traded firms, a move aimed at shedding the conglomerate structure that had dogged its stock. Canadian Pacific, the $12-billion conglomerate best known for its national railway CP Rail, has long been viewed as ripe for breakup because its parts were perceived as worth more to investors than the whole.
BUSINESS
January 10, 1995 | JULIE PITTA, TIMES STAFF WRITER
After 18 months devoted to stanching a financial hemorrhaging, International Business Machines Corp. Chairman Louis V. Gerstner Jr. has begun taking steps aimed at getting the patient up and walking again. In a sweeping reorganization, Gerstner on Monday merged the computer maker's fragmented sales and marketing operations into a single organization and created a new division with responsibility for all software operations.
BUSINESS
November 18, 1995 | From Times Staff and Wire Reports
Blue-chip stocks' never-say-die bull market pushed ahead on Friday, with the Dow Jones industrials closing just below 5,000. Despite a continuing mixed performance by technology issues, the market advanced as buyers picked up oil, entertainment and transportation stocks, among others. The Dow added 20.59 points to a record 4,989.95, and other major market indexes also rose modestly. The Standard & Poor's 500-index crossed 600 for the first time, up 2.73 points to a record 600.07.
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