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  • 阅读理解A
    题干:Inrecentyears,railroadshavebeencombiningwitheachother,mergingintosupersystems,causingheightenedconcernsaboutmonopoly.Asrecentlyas1995,thetopfourrailroadsaccountedforunder70percentofthetotalton-milesmovedbyrails.Nextyear,afteraseriesofmergersiscompleted,justfourrailroadswillcontrolwellover90percentofallthefreightmovedbymajorrailcarriers.Supportersofthenewsupersystemsarguethatthesemergerswillallowforsubstantialcostreductionsandbettercoordinatedservice.Anythreatofmonopoly,theyargue,isremovedbyfiercecompetitionfromtrucks.Butmanyshipperscomplainthatforheavybulkcommoditiestravelinglongdistances,suchascoal,chemicals,andgrain’truckingistoocostlyandtherailroadsthereforehavethembythethroat.Thevastconsolidationwithintherailindustrymeansthatmostshippersareservedbyonlyonerailcompany.Railroadstypicallychargesuch“captive”shippers20to30percentmorethantheydowhenanotherrailroadiscompetingforthebusiness.Shipperswhofeeltheyarebeingoverchargedhavetherighttoappealtothefederalgovernment'sSurfaceTransportationBoardforraterelief,buttheprocessisexpensive,timeconsuming,andwillworkonlyintrulyextremecases.Railroadsjustifyratediscriminationagainstcaptiveshippersonthegroundsthatinthelongrunitreduceseveryone'scost.Ifrailroadschargedallcustomersthesameaveragerate,theyargue,shipperswhohavetheoptionofswitchingtotrucksorotherformsoftransportationwoulddoso,leavingremainingcustomerstoshoulderthecostofkeepinguptheline.It'satheorytowhichmanyeconomistssubscribe,butinpracticeitoftenleavesrailroadsinthepositionofdeterminingwhichcompanieswillflourishandwhichwillfail.“Dowereallywantrailroadstobethearbitersofwhowinsandwholosesinthemarketplace?”asksMartinBercovici,aWashingtonlawyerwhofrequentlyrepresentsshippers.Manycaptiveshippersalsoworrytheywillsoonbehitwitharoundofhugerateincreases.Therailroadindustryasawhole,despiteitsbrighteningfortunes,stilldoesnotearnenoughtocoverthecostofthecapitalitmustinvesttokeepupwithitssurgingtraffic.Yetrailroadscontinuetoborrowbillionstoacquireoneanother,withWallStreetcheeringthemon.Considerthe$10.2billionbidbyNorfolkSouthernandCSXtoacquireConrailthisyear.Conrail'snetrailwayoperatingincomein1996wasjust$427million,lessthanhalfofthecarryingcostsofthetransaction.Who'sgoingtopayfortherestofthebill?Manycaptiveshippersfearthattheywill,asNorfolkSouthernandCSXincreasetheirgriponthemarket.
    题目:According to the text, the cost increase in the rail industry is mainly caused by_____.
  • A 、the continuing acquisition
  • B 、the growing traffic
  • C 、the cheering Wall Street
  • D 、the shrinking market

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参考答案

【正确答案:A】

细节题。第五段第二句提到, 铁路公司的收入仍然不足以支付为满足不断增长的运输需要而投入的资金。第三句yet转折之后,文章内容围绕铁路公司在相互兼并过程中耗费运营成本展开。该段还举例谈到托运商担心两大公司会把在兼并过程中的额外开支转嫁到他们身上。由此可推知,铁路公司的相互收购耗资巨大,造成铁路公司的成本大幅增加,从而使托运商的利益受损。因此A选项是铁路行业成本增加的主要原因。

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