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