Book1 Flashcards
1
Q
BTS
A
Bureau of Transportation Statistics
2
Q
USDOT
A
United States Department of Transportation
3
Q
NTSB
A
National Transportation Safety Board
4
Q
VMT
A
Vehicle Miles Traveled
5
Q
HSR
A
High Speed Rail
6
Q
Horizontal Mergers
A
Swallowing competitors to gain pricing power
7
Q
Pricing Power
A
Ability to set market prices
8
Q
Consolidation
A
Reduction in the number of suppliers to gain pricing power
9
Q
Alliances
A
Bypassing regulations on mergers to receive the same benefits
10
Q
Intramodal
A
Staying within the same mode of transportation
11
Q
Intermodal
A
Changing between different modes of transportation
12
Q
LNG
A
Liquefied Natural Gas
13
Q
TEU
A
Twenty foot Equivalent Unit – standard container size
14
Q
Economies of scale
A
Larger vehicles are more efficient than multiple vehicles
15
Q
Defacto common
A
Commonly utilized and paid for by citizens
16
Q
Public right of way
A
The right to use public roads and sidewalks
17
Q
Maritime right of innocent passage
A
The right to the open ocean unless you are a military/pirate craft
18
Q
FDI
A
Foreign Direct Investment – allowing temporary ownership of transportation industries by another country
19
Q
NAFTA
A
North American Free Trade Agreement – all countries can control their own internal transportation
20
Q
Common carrier obligation
A
You must provide service to all markets even if they are not attractive
21
Q
Eminent Domain
A
The right to claim/seize land to build roads and other infrastructure
22
Q
Interoperability
A
Compatibility between different country’s infrastructures (ie rail gauge)
23
Q
Nationalization
A
Taken over by government – almost all modes are built and maintained by government
24
Q
Quasinationalism
A
Permitting a dominant national company
25
National Company
Company given government preferences and protection
26
IPO
Initial Public Offering – offering to private stockholders to privatise a company
27
Primary Industries
Extraction – fishing, mining, lumber, agriculture
28
Secondary Industries
Manufacturing and processing
29
Fungible
Can be exchanged/moved/swapped without anyone knowing (Japan Oil)
30
Creative Destruction
Coined by Joseph Schumpeter saying better businesses will push out the older and obsolete ones
31
Darwinian
The idea of survival of the fittest with respect to businesses and organizations
32
Modal shifts
When one mode dies and another takes over
33
Adding Value
Converting a resource into a more valuable state (like corn to whiskey)
34
Market boundaries
Crossover between different industries
35
Universalities
The ability of a mode to reach any location (trucking is the most)
36
Logistics
The science/practice of physical distribution systems
37
First and Last Mile
Trucking always does the first and last mile of goods transportation
38
NEPA
National Environment Policy Act – requires industries to do an environmental impact statement
39
mis en bouteille en chateau
Estate bottled wine
40
Operating Costs
Fuel, wages, insurance, vehicle maintenance
41
Infrastructure costs
Roads, tunnels, bridges, facilities – large blocks of expenditure
42
Vehicle costs
Cost of trucks, planes, fleets
43
Capital cost
An expense paid for something that will be used for a long time
44
Fixed cost
The cost of offering service whether or not it gets used (ticket booths etc) – spent regardless of whether not trips are being made
45
Variable cost
Cost of fuel, workers – only spent if the trip is made
46
Fundamental Idea of Transportation Econ
Things must be FULL and MOVING
47
Load Factor
percentage of the vehicle that is filled
48
Line–haul costs
Costs occurring while the vehicle is moving (tolls,driver)
49
Terminal costs
Costs occurring when goods are loaded, unloaded, stored, etc – these are unproductive costs
50
Sunk costs
Costs with little salvage value unless to a similar company (railroads only slightly valuable to another rail company0
51
Barrier to entry
Sunk costs make it hard to get into a transportation industry – must put a lot of money down up front
52
Externalities
Byproducts of transportation, often negative, such as noise and pollution
53
Terminals
Interchange between modes (can be same or different modes)
54
Centrality
Being in the center
55
Intermediacy
Being in a convenient intermediate location
56
Market Area
The concentration of population/industrial activities that a terminal serves
57
Accessibility
How easy it is to reach a terminal
58
Fortress Hubs
Airline dominating a particular hub airport
59
Containers
standardized shipping units designed for simplicity and function
60
In–transit storage
grain silos, tanks, stockpiles
61
Inventory cost
investment of money on a product before it is at a refined state or sellable location (ie the crude oil in a pipeline cannot be used until it's at the end of the pipeline)
62
Transshipment costs
Cost of loading/unloading of passengers
63
Administration costs
Management of cargo, scheduling, overhead
64
Fleet turnover rate
The rate at which vehicles/vessels are replaced
65
Grandfathering
Not requiring older vehicles to be brought to current standards under the assumption that theyll be decommissioned soon
66
Dwell time
terminal cost incurring during loading/unloading (not moving)
67
Zero Sum
Anything I win, someone else will lose – Giving to one firm will cause another to lose
68
Vertical Integration
buying a supplier (like Delta owning a refinery)
69
Ruinous competition
having multiple lines going to the same location (rail companies all having routes to the same city)
70
Amtrak
formed in 1971 to unburden rail companies of their empty passenger services
71
Value capture
allowing railroads to benefit from some of the wealth they create when they run lines to different regions
72
Network space
A train occupies a certain part of the track and carries a potential cost of delaying other operations
73
Economy of utilization
Simply adding cars to a pre–existing train – "It's already going there anyway"
74
Diseconomies of scale
Once a company reaches a certain size it becomes too difficult to operate
75
FRA
Federal Railroad Administration
76
STB
Surface Transportation Board
77
AAR
Association of American Railroads
78
EIS
Environmental Impact Statement
79
NEC
Northeast Corridor – Amtraks only profitable line
80
grade separated
separating HSR from roadways
81
TGV
French High–speed rail
82
Federal–Aid Highway Act of 1956
the funding for highways is provided by thefederal government
83
Social equity
People were displaced from their home, often poor and minorities
84
Slum clearance highway routings
Putting highways through slums to eliminate them
85
Freeway revolts
Citizens getting mad about roads passing through
86
Tetraethyl Lead
boosted octane in gasoline but was poisonous and later lead to unleaded gasoline
87
High Occupancy Lanes
special lanes only open to carpools
88
TL
Truck Load – a single customers load goes from one origin to one destination
89
LTL
Less–than Truck Load – consolidation of multiple shipments wiht multiple origins and destinations
90
Deadheading
same as empty back–hauls – driving an empty truck
91
Private Carriage
vertically integrated internal trucking for a country
92
Mobility
the ease of flow within a transportation system
93
ADA
Americans with Disabilities Act of 1990
94
3PL
Third party logistics
95
Logistics function
specialized group focusing on distribution facilities and scheduling
96
Proxy
a measurable parameter that can be used to determine something that cannot be measured
97
Cabotage
keeps US business and shipping alive – domestic American cargo must go by american transportation
98
PPP
Public–private partnerships
99
FHWA
Federal Highway Administration
100
Highway trust fund
originally dedicated to highways – states can now use it on public transit
101
CAFE standards
Corporate Average Fuel Economy – the standards imposed on vehicle manufacturers
102
SAFETEA–LU
Safe, Accountable, Flexible, Efficient Transportation Equity Act
103
MAP–21
Moving Ahead for Progress – 2yr bill passed by congress in 2012
104
Alameda Corridor
rail highway in southern california
105
Chicago CREATE Project P1
Railroad flyover
106
PSHMA
Pipeline and Hazardous Materials Safety Administration
