CBS Evening News for Thursday, Apr 01, 1976
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.
(Studio) ConRail takes over for several bankrupt railroads. Chairperson Edward Jordan predicts rebirth of rail industry
REPORTER: Walter Cronkite
(New York) Reporter notes railroad names to be consolidated into ConRail. 20,000 mile of track to be used; 100,000 workers employed. ConRail hopes for profit in three years [President Association of American Railroads Stephen AILES - explains ConRail's opportunities.] $2 billion federal funds provided. 800 rail union jobs in Hornell, New York, to be abolished when ConRail takes over. ConRail received extra rail distance due to failure to sell rail to another railroad. [Union worker John ILARDI - says we'll get paid one way or the other.] [Transportation Secretary William COLEMAN - says ConRail nay cost Americans more if it becomes monopoly.] ConRail's reserve funds to be used up because of gaining extra routes. [JORDAN - says no extra fund margin now.] Jordan to ask Congress for $300 million more. [COLEMAN - says ConRail could cost taxpayers lots of money.] New York City Bahk predicts ConRail will go down drain in 3-5 years Interstate Commerce Commission says only small chance ConRail can pay off government debts. [Senator Richard STONE - compares ConRail to Postal Service as poor service and venture.] The alternative to ConRail is nationalization.
REPORTER: Gary Shepard
Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.
Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:
If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.