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Airline Deregulation Act
The Airline Deregulation Act is a 1978 United States federal law that deregulated the airline industry in the United States, removing federal control over such areas as fares, routes, and market entry of new airlines. The act gradually phased out and disbanded the Civil Aeronautics Board (CAB), but the regulatory powers of the Federal Aviation Administration (FAA) over all aspects of aviation safety were not diminished. History Since 1938, the federal CAB had regulated all domestic interstate air transport routes as a public utility, setting fares, routes, and schedules. Airlines that flew only intrastate routes, however, were not regulated by the CAB but were regulated by the governments of the states in which they operated. One way that the CAB promoted air travel was generally attempting to hold fares down in the short-haul market, which would be subsidized by higher fares in the long-haul market. The CAB also had to ensure that the airlines had a reasonable rate of ret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Aviation Act Of 1958
The Federal Aviation Act of 1958 was an act of the United States Congress, signed by President Dwight D. Eisenhower, that created the Federal Aviation Agency (later the Federal Aviation Administration or the FAA) and abolished its predecessor, the Civil Aeronautics Authority (CAA). The act empowered the FAA to oversee and regulate safety in the airline industry and the use of American airspace by both military aircraft and civilian aircraft. Background Aviation in the United States was unregulated until the Air Commerce Act became law in 1926. The Act created an Aeronautic Branch within the United States Department of Commerce with regulatory powers over civil aviation. Among the functions the Aeronautic Branch performed were pilot testing and licensing, issuing aircraft airworthiness certificates, establishing and enforcing safety regulations. The agency was also responsible for establishing airways and operating and maintaining aids to air navigation, in addition to inve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit (accounting)
Profit, in accounting, is an income distributed to the ownership , owner in a Profit (economics) , profitable market production process (business). Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production. There are several profit measures in common use. Income formation in market production is always a balance between income generation and income distribution. The income generated is always distributed to the Stakeholder (corporate), stakeholders of production as economic value within the review period. The profit is the share of income formation the owner is able to keep to themselves in the income distribution process. Profit is one of the major sources of economics , economic well-being because it means incomes and opportunities to develop production. The words "income", "profit" and "earnings" are synonyms in this context. Other terms See also * Gross income * Net profit * Profitability index * Rate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consolidated Rail Corporation
Conrail , formally the Consolidated Rail Corporation, was the primary Class I railroad in the Northeastern United States between 1976 and 1999. The trade name Conrail is a portmanteau based on the company's legal name. It Conrail Shared Assets Operations, continues to do business as an asset management and network services provider in three Shared Assets Areas that were excluded from the division of its operations during its acquisition by CSX Corporation and the Norfolk Southern Railway. The Federal government of the United States, federal government created Conrail to take over the potentially profitable lines of multiple Bankruptcy, bankrupt carriers, including the Penn Central Transportation Company and Erie Lackawanna Railway. After railroad regulations were lifted by the Railroad Revitalization and Regulatory Reform Act, 4R Act and the Staggers Rail Act, Staggers Act, Conrail began to turn a profit in the 1980s and was privatized in 1987. The two remaining Railroad classes, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, meaning the term ''bankruptcy'' is not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian language, Italian , literally meaning . The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery" until the creditor recouped losses through their Manual labour, physical labour. Many city-states in ancient Greece lim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penn Central Transportation Company
The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American Railroad classes, class I railroad that operated from 1968 to 1976. Penn Central combined three traditional corporate rivals, the Pennsylvania Railroad, Pennsylvania, New York Central Railroad, New York Central and the New York, New Haven and Hartford Railroad, New York, New Haven and Hartford railroad, each of which were united by large-scale service into the New York metropolitan area and to a lesser extent New England and Chicago. The new company failed barely two years after formation, the largest bankruptcy in U.S. history at the time. Penn Central's railroad assets were nationalized into Conrail along with those of other bankrupt northeastern railroads; its real estate and insurance holdings successfully Reorganization, reorganized into American Premier Underwriters. History Pre-merger The Penn Central railroad system developed in response to challenges facing Northeast United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Transport In The United States
Rail transportation in the United States consists primarily of freight shipments along a well integrated network of standard gauge private freight railroads that also extend into Canada and Mexico. The United States has the largest rail transport network of any country in the world, about . Passenger service is a mass transit option for Americans with commuter rail in most major American cities, especially on the East Coast. Intercity passenger service was once a large and vital part of the nation's passenger transportation network, but passenger service shrank in the 20th century as commercial air traffic and the Interstate Highway System made commercial air and road transport a practical option throughout the United States. The nation's earliest railroads were built in the 1820s and 1830s, primarily in New England and the Mid-Atlantic states. The Baltimore and Ohio Railroad, chartered in 1827, was the nation's first common-carrier railroad. By 1850, an extensive railroad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, U.S. House of Representatives, and an Upper house, upper body, the United States Senate, U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a Governor (United States), governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 United States senators, senators and 435 List of current members of the United States House of Representatives, representatives; the House of Representatives has 6 additional Non-voting members of the United States House of Representatives, non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wide-body Aircraft
A wide-body aircraft, also known as a twin-aisle aircraft and in the largest cases as a jumbo jet, is an airliner with a fuselage wide enough to accommodate two passenger aisles with seven or more seats abreast. The typical fuselage diameter is . In the typical wide-body economy cabin, passengers are seated seven to ten abreast, allowing a total capacity of 200 to 850 passengers. Seven-abreast aircraft typically seat 160 to 260 passengers, eight-abreast 250 to 380, nine- and ten-abreast 350 to 480. The largest wide-body aircraft are over wide, and can accommodate up to eleven passengers abreast in high-density configurations. By comparison, a typical narrow-body aircraft has a diameter of , with a single aisle, and seats between two and six people abreast. Wide-body aircraft were originally designed for a combination of efficiency and passenger comfort and to increase the amount of cargo space. However, airlines quickly gave in to economic factors, and reduced the extra passen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stagflation
Stagflation is the combination of high inflation, stagnant economic growth, and elevated unemployment. The term ''stagflation'', a portmanteau of "stagnation" and "inflation," was popularized, and probably coined, by British politician Iain Macleod in the 1960s, during a period of economic distress in the United Kingdom. It gained broader recognition in the 1970s after a series of global economic shocks, particularly the 1973 oil crisis, which disrupted supply chains and led to rising prices and slowing growth. Stagflation challenges traditional economic theories, which suggest that inflation and unemployment are inversely related, as depicted by the Phillips Curve. Stagflation presents a policy dilemma, as measures to curb inflation—such as tightening monetary policy—can exacerbate unemployment, while policies aimed at reducing unemployment may fuel inflation. In economic theory, there are two main explanations for stagflation: supply shocks, such as a sharp increa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1973 Oil Crisis
In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 Six-Day War. In an effort that was led by Faisal of Saudi Arabia, the initial countries that OAPEC targeted were Canada, Japan, the Netherlands, the United Kingdom, and the United States. This list was later expanded to include Estado Novo (Portugal), Portugal, Rhodesia, and South Africa. In March 1974, OAPEC lifted the embargo, but the price of oil had risen by nearly 300%: from US to nearly US globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego
San Diego ( , ) is a city on the Pacific coast of Southern California, adjacent to the Mexico–United States border. With a population of over 1.4 million, it is the List of United States cities by population, eighth-most populous city in the United States. San Diego is the county seat, seat of San Diego County. It is known for its mild Mediterranean climate, extensive List of beaches in San Diego County, beaches and List of parks in San Diego, parks, long association with the United States Navy, and recent emergence as a wireless, electronics, List of hospitals in San Diego, healthcare, and biotechnology development center. Historically home to the Kumeyaay people, San Diego has been referred to as the ''Birthplace of California'', as it was the first site visited and settled by Europeans on what is now the West Coast of the United States. In 1542, Juan Rodríguez Cabrillo claimed the area for Spain, forming the basis for the settlement of Alta California, 200 years later. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
