CEO Testifies Amtrak Has Never Returned a Profit, Hopes to Break Even by End of Decade

Published on June 12, 2024

Amtrak CEO Stephen Gardner testified to the House Transportation and Infrastructure Committee on June 12 that the national rail company has yet to turn a profit in a 12-month period but hopes to break even by 2030. Mr. Gardner’s comments came from a question posed by Rep. David Rouzer (R-N.C.) during a hearing on Amtrak’s funding, current operations, and uncertain future. The CEO also discussed how Amtrak is making a comeback from a downturn during the COVID-19 pandemic and gave projections for future profitability based on May being the “best revenue month ever” in the company’s history. Amtrak is owned by the federal government and governed by a board of directors appointed by the executive branch and confirmed by the U.S. Senate. It is a quasi-public corporation in that it receives a combination of state and federal subsidies while it is managed as a for-profit company....

Continue reading on website
Other news

UCLA Names Next Chancellor

June 12, 2024
LOS ANGELES—Dr. Julio Frenk, a global health expert and current president of the University of Miami, was named June 12 the next chancellor of UCLA, making him the first Latino to lead the Westwood university in its history.Dr. Frenk will take over the job on Jan. 1, 2025, succeeding Gene Block, who is stepping down on July 31. UCLA Executive Vice Chancellor and Provost Darnell Hunt will serve as

Illegal E-Cigarettes Flooding Market, Senators Question FDA’s Dragging Out Regulation for 3 Years

June 12, 2024
The U.S. Food and Drug Administration (FDA) has only approved 23 e-cigarette products, yet millions of illegal e-cigarettes have flooded the U.S. market, as stated at the Wednesday Senate Judiciary Committee hearing on youth vaping.In July 2020, the U.S. Maryland District Court ordered the FDA to conduct a premarket review of all e-cigarette products by September 2021.“That was 33 months ago—almos