Quasi-corporation in the context of "Amtrak"

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👉 Quasi-corporation in the context of Amtrak

The National Railroad Passenger Corporation, doing business as Amtrak (/ˈæmtræk/; reporting marks AMTK, AMTZ), is the national passenger railroad company of the United States. It operates intercity rail service in every contiguous U.S. state except for Wyoming and South Dakota as well as in three Canadian provinces. Amtrak is a portmanteau of the words America and track.

Founded in 1971 as a quasi-public corporation to operate many U.S. passenger rail routes, Amtrak receives a combination of state and federal subsidies but is managed as a for-profit organization. The company's headquarters is located one block west of Union Station in Washington, D.C. Amtrak is headed by a Board of Directors, two of whom are the secretary of transportation and chief executive officer (CEO) of Amtrak, while the other eight members are nominated to serve a term of five years.

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