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11 The Merger That Worked

Loving, Rush, Jr. Indiana University Press ePub

CHAPTER 11

The Merger That Worked

ONE FIRST–CLASS PASSAGE

THE PENN CENTRAL CRASH WAS SO DEVASTATING MANY railroaders and some journalists, including this one, were wondering whether any railroad as large as Penn Central would ever work. But when the Northern Pacific, Great Northern, and Chicago, Burlington and Quincy roads all came together, creating Burlington Northern, the merger did.

I was on my way home from Chicago one afternoon in early spring of 1972 and stopped by United Air Lines to see Eddie Carlson, who had asked me to visit him next time I was in town. When it came time for my flight, Eddie offered to drop me off on his way home, and as we neared O’Hare, I mentioned I was searching for another story, preferably one on transportation. “I met a very interesting man named Lou Menk the other day,” said Eddie. “He’s president of Burlington Northern, and he’s put together a successful merger. You ought to meet him.”

A few weeks later I was at BN’s headquarters in St. Paul talking to Louis W. Menk, and what I was finding confirmed that the merger was indeed working. The company’s 1971 ordinary earnings had totaled $35 million, a healthy 34 percent increase over 1970, the year in which the roads had merged. They were saving $4.4 million a year by combining local freight trains and another $7 million by laying off duplicate office workers.

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Medium 9781855209510

Chapter 20 - Elan Developments

Gordon Lund Brooklands Books ePub

The original Lotus Elan caused a storm when it was announced back in 1962 even though it was not made available to the public until 1963. John Bolster, a well known motoring journalist at the time recommended that people should sell the television, the washing machine, their granny even, so that they could purchase a Lotus Elan. So bowled over by this new revelation was he that he simply ran out of superlatives.

The whole Elan car range lasted for only ten years and in that time underwent a number of developments as covered earlier. The options list was fairly impressive for such a small firm at the time but was limited due to the scale of the company’s operations. By the big boys standards, Lotus was virtually a jobbing shop making vehicles on a batch production basis. This could never be called mass production.

In this light it is obvious that in order to stay profitable, Lotus had to keep a tight ship and keep diversifed developments to a minimum.

As a supplement to the first edition of this book I have therefore added a few developments on the Elan theme, concentrating more on recent events.

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Medium 9780253011275

Chapter 4 Planned Progress

Bill Marvel Indiana University Press ePub

The man who saved the Rock Island railroad was a understood every detail of the railroad. And he was a square-jawed, flinty-eyed railroader’s railroader, a slow-talker who chose his words carefully and meant every syllable of each.

John Dow Farrington despised incompetence. When he encountered it in an underling, he would fix the man in a gray, unblinking stare, a crocodilian smile would tug at the corners of his mouth, and he would begin a reaming-out the employee would never forget. Farrington understood every detail of the railroad. And he was a demon on track maintenance. So as he rode north out of Fort Worth in the office car Edward M. Durham Jr. had sent to fetch him to his new job, he learned what he was up against. Rock Island’s line to El Reno—and almost everywhere else—was a bone-shaking ordeal.

The first thing Farrington did when he came on board as chief operating officer—at $25,000 a year, the equivalent of $382,000 today—was take to the rails for six months in a V-8 Ford sedan equipped with flanged wheels. Everyone ducked when they saw it coming down the track.

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Medium 9781934009628

Chapter 4: Providing Cognitive Supports for English Language Learners

r4Educated Solutions Solution Tree Press ePub

4

Providing Cognitive Supports for English Language Learners

The true spirit of delight, the exaltation, the sense of being more than Man, which is the touchstone of the highest excellence, is to be found in mathematics as surely as in poetry.

—Bertrand Russell

In chapter 2, we looked at factors that affect language acquisition. Since the factor over which educators have the most control is the quality of instruction, we will continue to emphasize the importance of the role of the mathematics teacher as we look at increasing student understanding, participating, and communicating. In much the same way that we examined how to provide linguistic supports for language acquisition in chapter 3, here we will examine how to provide cognitive supports for the development of the skills, conceptual understanding, and thought processes that lead to mathematical proficiency.

When students encounter a word problem, they must not only read the text but also decode the mathematics involved. They must determine relevant concepts, including whether there is extraneous information, and decide which operations to use on any numbers.

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Medium 9780253355485

11 A Summer Cruise on the Hudson

Jr., Herbert H. Harwood Indiana University Press ePub

As the railroad builders worked toward finishing their job, Vanderbilt’s secret talks with the Pennsylvania picked up again. In February 1885 PRR vice president Frank Thomson resumed the dialogue, using General George Magee as the intermediary. Magee, it will be recalled, was a Vanderbilt associate and member of the South Pennsylvania Railroad Syndicate; he was particularly involved in the Beech Creek Railroad, Vanderbilt’s incursion into the Clearfield coalfields and an operation the Pennsy wanted very much to neutralize or take over.

Thomson proposed that the Pennsylvania would guarantee a 4 percent return on the Beech Creek’s bonds and be given half its voting stock in return. The South Penn was a different matter, however. In return for half its stock, he would offer the syndicate an annual return of between $75,000 and $90,000. Since their investment thus far was nearing $5 million, this would amount to less than 2 percent at best—a figure Vanderbilt and Twombly knew would demolish what was already a fragile situation with some powerful syndicate members. They held out for $150,000, or 3 percent, which might well also be too low to satisfy his colleagues, but the Pennsy, still considering the South Penn virtually worthless, would have none of it. (“A hole in the ground,” PRR president George Roberts sneered at one point.) By the end of March the negotiations had slid back into limbo.1

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