15 Month CD
ly, crane rail wears out faster
and needs replacement more
frequently. Although crane rail
is lighter than train rail and or-
ders are smaller, steady demand
helped Crown Steel buffer the
volatility of the railroad track
market tied to business cycles.
Industry experts agree that
although the need for rail nev-
er completely vanished, times
were hardest between 1950 and
1980. Rail is currently experi-
encing a comeback.
"The resurgence is due to let-
ting the railroads come close to
dying, which gave them a
chance to restructure by getting
rid of isolated tracks and rene-
gotiating agreements with the
unions," says Dr. John Taylor,
assistant professor of logistics
and transportation at Wayne
State University. "I would think
the hardest times were between
the '60s and '80s. I don't know
how guys like this [Mr. Trun-
sky] survived during that peri-
od.
"Most people think the rail-
roads are still dying but class
1 railroads and shortlines are
very profitable."
Two factors that helped snap
the rail slump were the Motor
Carrier Act of 1980 and the
Staggers Act of 1984 deregulat-
ing the trucking and rail indus-
tries. Previously, railroads
wanted to be regulated and thus
guaranteed a profit.
Privatizing both industries
allowed railroads to buy truck-
ing companies and engineer
cost-effective combinations of
shipping involving trucks, rail
and boats, called intermodal
transportation. It resulted in
stabilized and increased rail use,
according to Dr. Taylor.
Finding a place
in the market.
Increased rail use has led to
recent improvements in high-
speed rail, development of low-
slung "well cars" and the
construction of a $100 million
train tunnel in Port Huron to fa-
cilitate international freight cars
bound for Canada which ride 10
feet too high for the rail tunnel
in Detroit.
Jim Roach, manager of the
intermodal section of the Michi-
gan Department of Transporta-
tion, has seen a steady 3 percent
growth in Michigan rail use and
a 6 percent rise in intermodal
transportation during the past
decade.
Although the actual track
mileage nationally is shrinking,
traffic on existing tracks is grow-
ing heavier, approaching 1.5
million carloads in 1996, says
Mr. Roach.
During Mr. Trunsky's half-
STEADY NICHE page 64
6.24
6.50
to
%
APY
0/ 0
APY
Earn 6.24% APY on our 15 month CD. Add .25% with
our Advantage 50 Bonus and you can earn 6.50% APY.
Old Kent also offers shorter term options. Our 8 month
CD earns 5.74% APY. Add .25% with our Advantage 50
Bonus and you can earn 6.00% APY. Stop by your
Old Kent office for details on the CD that gives you more
ways to earn higher rates.
1-800-882-9543
OLD /(ENT
Annual percentage yield effective as of June 2, 1997. You must open an Advantage 50 checking account to receive CD
Cr
LENDER
MEMBER FDIC
bonus. Minimum deposit of $1,000. Offer good only at participating Old Kent Bank locations for a limited time.
A penalty will be imposed for early withdrawal. New CD money only. Cannot be combined with any other offers.
CDs under $100,000. Bonus rate will not apply upon renewal.
COLD KENT BANK 1997
PEN SALE
tr:
BIG DISCOUNTS
PENS WRITE... 1.z1
A WATERMAN
EXPRESSES.
We Carry a Full Line of
• Fountain Pens • Ball Points
• Rollers • Pencils
Buy Now & Save!
WATERMAN
PARKER NEW
c DUOFOLD
COLORS
ELECTRIC SHAVERS
CUISINART
KITCHEN-AID MIXERS
BRAUN-SONICARE
TOOTHBRUSHES
Oscar Braun's
15075 W. Lincoln, Oak Park
(810) 968-5858
Hours:
Mon.-Fri.
10-4
Gain A Presence on
The World ids Web
SpeedLink
h-
CT)
07
A Division of Sp eecIN et, Inc.
0
LLJ
•
Tel: (810) 335-1309 Fax: (810) 332-5570
http://www.speedlink.net e-mail:speed@speedlink.net
•. •
63