Amtrak


Amtrak
/am"trak'/, n.
a government-subsidized public corporation created by Congress in 1970 to operate a national intercity passenger railroad system through contracts with existing railroads.
[Am(erican) tra(vel on trac)k]

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formally National Railroad Passenger Corp.

Federally supported corporation that operates nearly all intercity passenger trains in the U.S. It was established by Congress in 1970 in the face of private railroads' heavy financial losses.

Routes were cut back severely, with service maintained only in highly populated areas and between the largest cities. Amtrak pays the railroads to run passenger trains and compensates them for the use of tracks and terminals. Amtrak bears all administrative costs and manages scheduling, route planning, and ticket sales. Despite income from tickets and mail-carrying services, Amtrak requires federal support to cover its operating costs. See also Conrail; Railway Express Agency.

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▪ American railway system
formally  National Railroad Passenger Corporation 

      federally supported corporation that operates nearly all intercity passenger trains in the United States. It was established by Congress in 1970 and assumed control of passenger service from the nation's private rail companies the following year. Virtually all railways, with the exception of a small handful, signed contracts with Amtrak. The corporation pays the railroads to run their passenger trains and also compensates them for the use of certain facilities, including tracks and terminals. It bears all administrative costs, such as those incurred for the purchase of new equipment, and manages scheduling, route planning, and the sale of tickets.

      Amtrak was founded to relieve American railroads of the financial burden of providing passenger service and to improve the quality of that service. Since about the early 1960s, the railroads had lost millions of dollars annually on their passenger lines as a result of a steady decline in their ridership and increases in their operating costs. In order to avert further losses, many of the companies dropped their unprofitable routes. In 1950 there were approximately 9,000 passenger trains in service, which carried just under 50 percent of all intercity traffic. By 1970, however, there were only about 450 trains still in operation, with a total share of the passenger traffic amounting to a mere 7 percent.

      The creation of Amtrak marked the first time that rail passenger service received any form of direct financial assistance from the U.S. government (although land grants had been given railroads to spur completion of a transcontinental line some 109 years earlier). Congress provided Amtrak with an initial grant of $40,000,000 and authorized an additional $100,000,000 in government-guaranteed loans. In the late 20th century, Amtrak received several million dollars in federal funds annually to cover operating losses. Although the corporation derived income from ticket sales and from its mail-carrying service, its revenues were not enough to offset its expenditures. Facing a decline in federal funding in the mid-1990s, Amtrak reorganized its corporate structure, initiated changes in service, and sought alternative financing, including subsidies from state governments.

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Universalium. 2010.

Look at other dictionaries:

  • Amtrak — Création 1971 …   Wikipédia en Français

  • Amtrak™ — [Amtrak] the public company, set up by ↑Congress in 1970, which runs trains for passengers in the US. Its formal name is the National Railroad Passenger Corporation …   Useful english dictionary

  • Amtrak — Am‧trak [ˈæmtræk] noun trademark TRAVEL the national railway company in the US, responsible for operating passenger train services between important American cities …   Financial and business terms

  • Amtrak™ — UK US noun [S] TRADEMARK ► TRANSPORT the national railway company in the US that operates nearly all passenger trains between big American cities …   Financial and business terms

  • Amtrak — U.S. government run railway corporation, 1971, contraction of American Track. Also is known as National Railway Passenger Corp …   Etymology dictionary

  • Amtrak — ☆ Amtrak [am′trak΄ ] abbrev. [Am(erican) tr(avel) (tr)a(c)k] a national U.S. passenger railroad system …   English World dictionary

  • Amtrak — For other uses, see Amtrak (disambiguation). Amtrak Map of the Amtrak system (2007) Reporting mark …   Wikipedia

  • Amtrak — Acela Express en West Windsor, NJ …   Wikipedia Español

  • Amtrak — National Railroad Passenger Corporation Rechtsform Aktiengesellschaft Gründung 1971 Sitz …   Deutsch Wikipedia

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