ICC Approves Santa Fe Southern Pacific Merger Path
The ICC on Friday cleared the holding companies behind Santa Fe Industries and Southern Pacific to merge their rail lines, forming a potential 25 000 mile system linking the Gulf Coast to the Great Lakes and West Coast. The two railroads will stay under separate management via a voting trust and ongoing operation, with a formal railroad merger decision to follow after public hearings. Santa Fe Industries and Southern Pacific reported combined assets above 10 billion and last year earnings of 108.2 and 120.1 million on about 3.2 and 3.1 billion in revenue respectively.
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Interstate Commerce Commission
Southern Pacific
Atchison, Topeka & Santa Fe
Santa Fe Industries Inc
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Bob Barrett
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Dennis Watson
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Missouri-Kansas- Texas
Newrailroad
Domestic auto sales rebound near pre slump levels
Domestic car sales rose 25.2 percent in mid-December from a year earlier, totaling 179,749 cars from Dec 11 to 20. The daily rate reached 22,469, the highest for the period since mid-December 1978, as analysts noted buyers returning and November shortfalls being made up.
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Detroit
Peter Zaglio
New York
Lehman Brothers Kuhn Loeb Inc
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