Amtrak

Amtrak

The National Railroad Passenger Corporation, doing business as Amtrak, is operated and managed as a for-profit corporation and began operations on May 1, 1971, to provide intercity passenger train service in the United States.

About Amtrak

The National Railroad Passenger Corporation, doing business as Amtrak, is operated and managed as a for-profit corporation and began operations on May 1, 1971, to provide intercity passenger train service in the United States. 'Amtrak' is a portmanteau of the words 'America' and 'track'. It is headquartered at Union Station in Washington, D.C. Although the Rail Passenger Service Act of 1970, which established Amtrak, specifically states that 'The Corporation will not be an agency or establishment of the United States Government,' the federal government (through the United States Department of Transportation) does own all issued and outstanding preferred stock in the company. Common stock was issued in 1971 to railroads that contributed capital and equipment; these shares convey almost no benefits but their current holders declined a 2002 buy-out offer by Amtrak.

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