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Title: Amtrak Chugs Deeper Into the Red
Source: WSJ
URL Source: http://online.wsj.com/article/SB100 ... 701866.html?mod=googlenews_wsj
Published: May 19, 2011
Author: Josh Mitchell
Post Date: 2011-05-19 13:40:34 by socalv8
Keywords: amtrak, tax dollars, money pit
Views: 13228
Comments: 40

Amtrak's financial losses are projected to widen this year despite rising ridership, the top executive of the government-subsidized rail system said Tuesday.

Amtrak blames the red ink on rising compensation costs for union workers and increased costs for fuel, materials and other expenses. Amtrak is making money on its heavily traveled Northeast Corridor between Boston and Washington, serving mostly commuters, executives said. But money-losing, long-distance routes are a drag on the bottom line, Amtrak says.

Amtrak officials project an operating loss of $506 million in the fiscal year ending Sept. 30, up from a loss of $419.9 million last year. Officials have projected a loss of $616 million next year.

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#1. To: socalv8, godwinson (#0)

Amtrak officials project an operating loss of $506 million in the fiscal year ending Sept. 30, up from a loss of $419.9 million last year. Officials have projected a loss of $616 million next year.

THIS is socialism is action, gobsheit.

Capitalist Eric  posted on  2011-05-19   13:52:09 ET  Reply   Untrace   Trace   Private Reply  


#2. To: Capitalist Eric (#1)

THIS is socialism is action

It is America failing is what it is. Trains in socialist Europe don't have these problems. If America adopted the Euo-Socialist model then Amtrak would be fixed. By the way, how much profit do America's socialist built highways generate for the govt? Zero. The govt build the highways and charges nothing for their use.

Godwinson  posted on  2011-05-19   13:54:49 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 2.

#3. To: Godwinson (#2)

They use the peoples money to build it. It should be free.

Biff Tannen  posted on  2011-05-19 13:56:24 ET  Reply   Untrace   Trace   Private Reply  


#9. To: Godwinson (#2)

It is America failing is what it is.

No, a socialst aspect of America is failing, badly.

socalv8  posted on  2011-05-19 14:12:14 ET  Reply   Untrace   Trace   Private Reply  


#19. To: Godwinson (#2)

the way, how much profit do America's socialist built highways generate for the govt? Zero. The govt build the highways and charges nothing for their use.

Federal gas tax.

Check-mate.

Capitalist Eric  posted on  2011-05-19 15:05:18 ET  Reply   Untrace   Trace   Private Reply  


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