Passage Three
In recent years, railroads have been combining with each other, merging into super systems, causing heightened concerns about monopoly. As recently as 1995, the top four railroads accounted for under 70 per cent of the total ton-miles moved by rails. Next year, after a series of mergers is completed, just four rail roads will control well over 90 percent of all the freight moved by major rail carriers.
Supporters of the new super systems argue that these mergers will allow for substantial cost reductions and better coordinated service. Any threat of monopoly, they argue, is removed by fierce competition from trucks. But many shippers complain that for heavy bulk commodities traveling long distances, such as coal, chemicals, and grain, trucking is too costly and the railroads therefore have them by the throat.
The vast consolidation within the rail industry means that most shippers are served by only one rail company. Railroads typicall
A. the continuing acquisition.
B. the growing traffic.
C. the cheering Wall Street.
D. the shrinking market.
Passage Three
In recent years, railroads have been combining with each other, merging into super systems, causing heightened concerns about monopoly. As recently as 1995, the top four railroads accounted for under 70 per cent of the total ton-miles moved by rails. Next year, after a series of mergers is completed, just four rail roads will control well over 90 percent of all the freight moved by major rail carriers.
Supporters of the new super systems argue that these mergers will allow for substantial cost reductions and better coordinated service. Any threat of monopoly, they argue, is removed by fierce competition from trucks. But many shippers complain that for heavy bulk commodities traveling long distances, such as coal, chemicals, and grain, trucking is too costly and the railroads therefore have them by the throat.
The vast consolidation within the rail industry means that most shippers are served by only one rail company. Railroads typicall
A. cost reduction is based on competition.
B. services call for cross-trade coordination.
C. outside competitors will continue to exist.
D. shippers will have the railway by the throat.
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