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Railroad Industry

BUSINESS
May 25, 1989 | From Associated Press
The chairwoman of the Interstate Commerce Commission resigned in tears today, saying "the White House and I have concluded it was not in our interest to fight the Senate Commerce Committee." Heather J. Gradison, a member of the commission since 1982 and its chairwoman since December, 1985, offered no further explanation at a meeting attended by about 100 commission employees. They applauded when she finished her brief statement. Her five-year term was up last December, but she had remained on the job. An Interstate Commerce Commission source who declined to be identified said Democratic Sens.
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CALIFORNIA | LOCAL
February 6, 1992
The Los Angeles City Council on Wednesday asked for a legal opinion on its latitude in supporting an effort by a longshoremen's union to retain 350 jobs in the South Bay. The dispute centers on plans by Southern Pacific Transportation Co., the railroad company, to end its contract Feb. 17 with a company that uses workers from the International Longshoremen and Warehousemen's Union, Local 13, to load shipping containers onto trucks and trains.
NEWS
May 24, 1990 | From Associated Press
President Bush today vetoed a bill authorizing funds for Amtrak, the nation's rail passenger service, protesting a provision to bring railroad acquisitions under new government scrutiny. Bush said the provision "represents a step backward for the entire rail industry." It was Bush's first veto of 1990. He vetoed 10 measures last year and has yet to have one overturned.
NEWS
July 31, 1985 | United Press International
The federal government, after 12 years of debate, today announced safety regulations for the railroad industry that will prohibit employees from reporting to work drunk or on drugs. Transportation Secretary Elizabeth Hanford Dole said the new rules, effective Nov. 1, "will protect the public and railroad employees from the consequences of on-the-job drug and alcohol use."
NEWS
May 25, 1990 | From Associated Press
President Bush on Thursday vetoed a bill authorizing $2 billion in spending by Amtrak, complaining that the bill's expansion of federal regulation over railroad acquisitions "represents a step backward for the entire rail industry." Bush took issue with a provision that would require the Interstate Commerce Commission to approve the acquisition of railroads by non-railroad companies.
BUSINESS
April 12, 2000 | Associated Press
Chase Manhattan Corp. said it's paying $7.6 billion in cash and stock for Robert Fleming Holdings Ltd., a British investment bank and asset management group, in a bid to help it become a bigger player in global investment banking. Chase, the third-largest U.S. bank with about $406 billion in assets, has agreed to pay $4.1 billion in cash and $3.5 billion in common stock for Robert Fleming, one of Britain's last independent financial companies. The deal requires regulatory approval.
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