Amtrak

Amtrak is the trademark name of the intercity passenger train system created on May 1, 1971 in the United States. Formally known as the National Railroad Passenger Corporation, the trademark name Amtrak is a portmanteau of the words America, travel and track.

Related Topics:
Train - May 1 - 1971 - United States - Portmanteau

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Nominally, Amtrak is an independent for-profit corporation, but all of its preferred stock is owned by the federal government, and the members of Amtrak's board of directors are appointed by the President of the United States and are subject to confirmation by the United States Senate. Some common stock is held by private railroads and other investors, although it is not actively traded and is generally considered to be worthless as an investment, as it has never paid dividends.

Related Topics:
Corporation - Preferred stock - President of the United States - United States Senate

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The chairman of Amtrak's board is David Laney, a presidential appointee. The current President of Amtrak is David L. Gunn.

Related Topics:
David Laney - David L. Gunn

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