Portal:Trains/Selected article/Week 14, 2006

Amtrak, is the brand name of the intercity passenger train system created on May 1, 1971 in the United States. Officially known as the National Railroad Passenger Corporation, the name "Amtrak" is a portmanteau of the words "American" and "track." Amtrak employs over 19,000 people. The nationwide network of 22,000 miles (35,400 km) of routes serves 500 communities in 46 of the United States, with some of the routes serving communities in Canada. In fiscal year 2004, Amtrak routes served over 25 million passengers, a company record. Nominally, Amtrak is an independent for-profit corporation, but all of its preferred stock is owned by the federal government. 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 the private railroads that transferred their passenger service to Amtrak in 1971. Though Amtrak stock does not pay dividends and is not routinely traded, a small number of private investors have purchased Amtrak stock from its original owners.

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