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The National Railroad Passenger Corporation, doing business as Amtrak (/ ˈ æ m t r æ k /; reporting marks AMTK, AMTZ), is the national passenger railroad company of the United States. It operates inter-city rail service in 46 of the 48 contiguous U.S. states and three Canadian provinces. Amtrak is a portmanteau of the words America and track.
Union Station is owned by Amtrak and the United States Department of Transportation. The DOT owns the station building itself and the surrounding parking lots, while Amtrak owns the platforms and tracks through the Washington Terminal Company: a nearly wholly-owned subsidiary (99.9% controlling interest). [1] [65]
The Alaska Railroad provided long-distance service, but was already owned by the United States government. Auto ferry service was specifically excluded from Amtrak's original remit. [ 11 ] This was in reference to a service proposed by the Office of High-Speed Ground Transportation , rather than the private Auto-Train Corporation .
When Amtrak was formed, in return for government permission to exit the passenger rail business, freight railroads donated passenger equipment to Amtrak and helped it get started with a capital infusion of some $200 million. The vast majority of the 22,000 mi (35,000 km) or so over which Amtrak operates are actually owned by freight railroads.
Amtrak went from becoming a train operator to now also a “huge capital program management entity” and “a construction company,” according to Gardner. Changing so much of its DNA has come ...
In 1981, Amtrak took over the terminal company's operations. [3] It currently owns a 99.7% interest in WTC, with the balance held by Amtrak employees. All of WTC's officers are Amtrak employees, as are most of its directors. [4] Through WTC, Amtrak presently shares ownership of Union Station with the United States Department of Transportation ...
After getting billions in federal funding, Amtrak is ‘trying to claw 19th century and 20th century assets and pull them into the 21st century,’ CEO says Paolo Confino May 10, 2024 at 12:50 PM
Amtrak's problems, on the other hand, seem almost totally self-made. Amazingly, per-unit costs are 70% above selling prices. A $2 soda costs taxpayers $3.40, with labor costs making up nearly 40% ...