Conrail Bid Withdrawn Ends 18 Month Sale Battle
The Reagan administration announced Norfolk Southern has withdrawn its bid to buy Conrail, clearing the way for Congress to pursue a public stock sale while keeping Conrail as a separate railroad. Transportation Secretary Elizabeth Dole expressed regret but pledged to pursue a deal with Congress. Conrail serves 15 states from the Northeast to Missouri.
MENTIONED IN THIS ARTICLE
Washington
Conrail
Norfolk Southern Corp
Congress
Transportation
Elizabeth Dole
Norfolk Southern
Missouri
Pan Am to pay penalties for safety violations
Pan American World Airways agreed to pay nearly 2 million dollars in penalties after FAA inspectors found safety violations earlier this year. The agency had sought 3.9 million in fines, but Pan Am settled following a restructuring of its maintenance operation where most violations were concentrated.
MENTIONED IN THIS ARTICLE
Pan Am
Washington
Pan American World Airways
Federal Aviation Administration
FAA
Augustine Volcano Erupts After Quiet Plume Returns
Alaska officials report Augustine Volcano on uninhabited Augustine Island near Anchorage erupting with ash and steam bursts after four months of dormancy. Scientists planned aerial inspection Friday but weather may delay due to low clouds as fishermen described fire at the summit and down the north flank.
MENTIONED IN THIS ARTICLE
Anchorage
Alaska
Augustine
Betsy Yount
U.S
Air Force tests anti-satellite weapon launch
The Air Force announced a successful ASAT test conducted Friday within Congress restrictions. An F-15 from Edwards Air Force Base fired the weapon, which uses a two stage rocket and energy source aimed at a distant star as the target. The test marks the fourth launch in the program and the missile is designed to strike the target at high speed.
MENTIONED IN THIS ARTICLE
Washington
Air Force
Congress
Edwards Air Force Base
Calif
Also Mentioned on This Page
Geological Survey
Balie Griffith
Texas
Westside
W. County RD
Ieee
JVC
Eisher Video Recorder
Wireless
Vedi
Frigidaire
Toshiba
Frigidaire Emerson
Eyfrigidaire
Icemaker
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