45 U.S.C. § 901 : US Code - Section 901: Congressional findings

Search 45 U.S.C. § 901 : US Code - Section 901: Congressional findings

(a) Congress hereby finds that -
(1) the severe operating losses and the deteriorating plant and
equipment of the Milwaukee Railroad threaten to cause cessation
of its operations in the near future;
(2) a cessation of operations by the Milwaukee Railroad would
have serious repercussions on the economies of the States in
which such railroad principally operates (the States of
Washington, Montana, Idaho, North Dakota, South Dakota, Illinois,
Iowa, Missouri, Michigan, Indiana, Minnesota, and Wisconsin);
(3) a cessation of operations of the Milwaukee Railroad would
result in the loss of many thousands of jobs of railroad workers
and other workers whose employment is dependent upon rail service
over the lines presently operated by the Milwaukee Railroad;
(4) experienced railroad employees make a valuable contribution
toward strengthening the railroad industry; and other railroads
have the ability and willingness to employ displaced employees of
the Milwaukee Railroad;
(5) the ownership by employees or by employees and shippers of
part or all of the Milwaukee Railroad may be a valuable tool in
reorganization and should be given serious consideration;
(6) cessation of essential transportation services by the
Milwaukee Railroad would endanger the public welfare;
(7) cessation of such services is imminent; and
(8) there is no other practicable means of obtaining funds to
meet payroll and other expenses necessary for continuation of
services and reorganization of the Milwaukee Railroad.
(b) The Congress declares that emergency measures set forth in
this chapter must be taken to restructure the Milwaukee Railroad
and to avoid the potential unemployment and damage to the economy
of the region and of the Nation which a cessation of essential
services by the Milwaukee Railroad would otherwise cause.