(Source: Railway Age, July 8, 2021)
NEW YORK — President Biden on July 9 will sign an Executive Order directing federal regulators to “confront consolidation and perceived anticompetitive pricing” in the railroad and ocean shipping industries, among many others, “as part of a broad effort to blunt the power of big business to dominate industries,” according to a July 8 Wall Street Journal story by reporters Tedd Mann and Andrew Restuccia. “As part of a sweeping Executive Order expected [July 9], the Administration will ask the Federal Maritime Commission and the Surface Transportation Board to combat what it calls a pattern of consolidation and aggressive pricing that has made it onerously expensive for American companies to transport goods to market,” the WSJ said in its story, Biden to Target Railroads, Ocean Shipping in Executive Order, which cited an unidentified “person familiar with the situation.”
Full story: Railway Age