lee (11/29/82)
From: Lee.Moore Today's New York Times has an article dated Nov. 28 about the decline in orders from the major locomotive manufactors (G.M. and G.E.). The following are quotes from that article: ``Traffic on the nation's railroads has dropped more than 13 percent this year, leaving a glut of unused locomotives and freight cars. More than 5,500 locomotives, about 25% of the fleet, and perhaps as many as 200,000 rail cars sit idle on railroad sidings across the country.'' ``About half of (G.M.'s Locomotive) division's workers, 5,500 people, are on indefinite layoff. The 50-year-old assembly line with a production capacity of slightly more than five locomotives a day, is turning out only one daily.'' ``General Motors, trying to stem the erosion of its market share, which has fallen to 75 percent from more then 90 percent several years ago, is engaged in a crash research program to improve the fuel efficiency of its engine, an area in which many experts believe G.E. has an edge. "In the short-term, things look extremely tough," said Mr. Hoglund of G.M. "In the long-term, this is a great industry to be in."''