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Amtrak - Wikipedia, the free encyclopedia (3598 words) |
 | 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. |
| Amtrak was created to relieve private railroad companies of their previous legal obligation to provide passenger rail service as common carriers and allow them to pursue their interests in more profitable freight operations. |
| Amtrak's portion of the NEC was acquired in 1976 as a result of the Railroad Revitalization and Regulatory Reform Act. |
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