deck_6984006 Flashcards
BTS
Bureau of Transportation Statistics
USDOT
United States Department of Transportation
NTSB
National Transportation Safety Board
VMT
Vehicle Miles Traveled
HSR
High Speed Rail
Horizontal Mergers
Swallowing competitors to gain pricing power
Pricing Power
Ability to set market prices
Consolidation
Reduction in the number of suppliers to gain pricing power
Alliances
Bypassing regulations on mergers to receive the same benefits
Intramodal
Staying within the same mode of transportation
Intermodal
Changing between different modes of transportation
LNG
Liquefied Natural Gas
TEU
Twenty foot Equivalent Unit – standard container size
Economies of scale
Larger vehicles are more efficient than multiple vehicles
Defacto common
Commonly utilized and paid for by citizens
Public right of way
The right to use public roads and sidewalks
Maritime right of innocent passage
The right to the open ocean unless you are a military/pirate craft
FDI
Foreign Direct Investment – allowing temporary ownership of transportation industries by another country
NAFTA
North American Free Trade Agreement – all countries can control their own internal transportation
Common carrier obligation
You must provide service to all markets even if they are not attractive
Eminent Domain
The right to claim/seize land to build roads and other infrastructure
Interoperability
Compatibility between different country’s infrastructures (ie rail gauge)
Nationalization
Taken over by government – almost all modes are built and maintained by government
Quasinationalism
Permitting a dominant national company
National Company
Company given government preferences and protection
IPO
Initial Public Offering – offering to private stockholders to privatise a company
Primary Industries
Extraction – fishing, mining, lumber, agriculture
Secondary Industries
Manufacturing and processing
Fungible
Can be exchanged/moved/swapped without anyone knowing (Japan Oil)
Creative Destruction
Coined by Joseph Schumpeter saying better businesses will push out the older and obsolete ones
Darwinian
The idea of survival of the fittest with respect to businesses and organizations
Modal shifts
When one mode dies and another takes over
Adding Value
Converting a resource into a more valuable state (like corn to whiskey)
Market boundaries
Crossover between different industries
Universalities
The ability of a mode to reach any location (trucking is the most)
Logistics
The science/practice of physical distribution systems
First and Last Mile
Trucking always does the first and last mile of goods transportation
NEPA
National Environment Policy Act – requires industries to do an environmental impact statement
mis en bouteille en chateau
Estate bottled wine
Operating Costs
Fuel, wages, insurance, vehicle maintenance
Infrastructure costs
Roads, tunnels, bridges, facilities – large blocks of expenditure
Vehicle costs
Cost of trucks, planes, fleets
Capital cost
An expense paid for something that will be used for a long time
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
Variable cost
Cost of fuel, workers – only spent if the trip is made
Fundamental Idea of Transportation Econ
Things must be FULL and MOVING
Load Factor
percentage of the vehicle that is filled
Line–haul costs
Costs occurring while the vehicle is moving (tolls,driver)
Terminal costs
Costs occurring when goods are loaded, unloaded, stored, etc – these are unproductive costs
Sunk costs
Costs with little salvage value unless to a similar company (railroads only slightly valuable to another rail company0
Barrier to entry
Sunk costs make it hard to get into a transportation industry – must put a lot of money down up front
Externalities
Byproducts of transportation, often negative, such as noise and pollution
Terminals
Interchange between modes (can be same or different modes)
Centrality
Being in the center
Intermediacy
Being in a convenient intermediate location
Market Area
The concentration of population/industrial activities that a terminal serves
Accessibility
How easy it is to reach a terminal
Fortress Hubs
Airline dominating a particular hub airport
Containers
standardized shipping units designed for simplicity and function
In–transit storage
grain silos, tanks, stockpiles
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)
Transshipment costs
Cost of loading/unloading of passengers
Administration costs
Management of cargo, scheduling, overhead
Fleet turnover rate
The rate at which vehicles/vessels are replaced
Grandfathering
Not requiring older vehicles to be brought to current standards under the assumption that theyll be decommissioned soon
Dwell time
terminal cost incurring during loading/unloading (not moving)
Zero Sum
Anything I win, someone else will lose – Giving to one firm will cause another to lose
Vertical Integration
buying a supplier (like Delta owning a refinery)
Ruinous competition
having multiple lines going to the same location (rail companies all having routes to the same city)
Amtrak
formed in 1971 to unburden rail companies of their empty passenger services
Value capture
allowing railroads to benefit from some of the wealth they create when they run lines to different regions
Network space
A train occupies a certain part of the track and carries a potential cost of delaying other operations
Economy of utilization
Simply adding cars to a pre–existing train – “It’s already going there anyway”
Diseconomies of scale
Once a company reaches a certain size it becomes too difficult to operate
FRA
Federal Railroad Administration
STB
Surface Transportation Board
AAR
Association of American Railroads
EIS
Environmental Impact Statement
NEC
Northeast Corridor – Amtraks only profitable line
grade separated
separating HSR from roadways
TGV
French High–speed rail
Federal–Aid Highway Act of 1956
the funding for highways is provided by thefederal government
Social equity
People were displaced from their home, often poor and minorities
Slum clearance highway routings
Putting highways through slums to eliminate them
Freeway revolts
Citizens getting mad about roads passing through
Tetraethyl Lead
boosted octane in gasoline but was poisonous and later lead to unleaded gasoline
High Occupancy Lanes
special lanes only open to carpools
TL
Truck Load – a single customers load goes from one origin to one destination
LTL
Less–than Truck Load – consolidation of multiple shipments wiht multiple origins and destinations
Deadheading
same as empty back–hauls – driving an empty truck
Private Carriage
vertically integrated internal trucking for a country
Mobility
the ease of flow within a transportation system
ADA
Americans with Disabilities Act of 1990
3PL
Third party logistics
Logistics function
specialized group focusing on distribution facilities and scheduling
Proxy
a measurable parameter that can be used to determine something that cannot be measured
Cabotage
keeps US business and shipping alive – domestic American cargo must go by american transportation
PPP
Public–private partnerships
FHWA
Federal Highway Administration
Highway trust fund
originally dedicated to highways – states can now use it on public transit
CAFE standards
Corporate Average Fuel Economy – the standards imposed on vehicle manufacturers
SAFETEA–LU
Safe, Accountable, Flexible, Efficient Transportation Equity Act
MAP–21
Moving Ahead for Progress – 2yr bill passed by congress in 2012
Alameda Corridor
rail highway in southern california
Chicago CREATE Project P1
Railroad flyover
PSHMA
Pipeline and Hazardous Materials Safety Administration
