The National Railroad Passenger Corporation (Amtrak) provides intercity and commuter railway passenger transportation services and operates high-speed railroads on the Northeast Corridor, state-supported routes, and long-distance routes in the United States (49 U.S.C. 24101). Moreover, Amtrak operates commuter railroads, provides the infrastructure,presents rail services to other rail operators, and plus manages its real estate assets. Amtrak operates more than 21,300 miles of the national railway network and serves more than 500 destinations in 46 States, plus the District of Columbia and three provinces in Canada. The Northeast Corridor is the most crowded railroads of Amtrak and also in the North America. For instance, the Boston-New York-Washington …show more content…
With this takeover, Amtrak accessed these companies’ tracks and operate its national intercity passenger rail network independently. Amtrak was established as a federally-chartered for-profit corporation and considered an independent, permanent, and mixed-ownership government corporation. The Federal government is the majority stockholder in the Amtrak. Moreover, Congressional Research Service treats Amtrak as a quasi-governmental entity, which is a corporation whose stock is nearly completely owned by the Federal Government. Amtrak was assigned a new mission by the Passenger Rail Investment and Improvement Act of 2008; “to provide efficient and effective intercity passenger rail mobility consisting of high quality service that is trip-time competitive with other intercity travel options”. After this Act, Amtrak reorganized into three operating lines to make its management and finances more accountable and also more transparent. Furthermore, in 2015, the Congress passed the Fixing America’s Surface Transportation Act, in which Amtrak is provided up to $8.05 billion between the fiscal year 2016 through …show more content…
Therefore, government departments or agencies that exercise ownership rights over SOEs should act as trustees of the public. The duties of managing the ownership rights to the public are different from the duties of a board towards the shareholders. Since governments should exercise its powers on SOEs in accordance with the public’s best interest, high standards of transparency and accountability are required in SOE governance to inform the public. Furthermore, good governance in the SOE management is essential for the economic efficiency and competitiveness of the SOEs. In this chapter, better practices and lessons will be discussed to improve both the SOE management in Turkey and management of the government corporations in the
When time came to build the transcontinental railroads, the government had given about 150 millions of acres of land for the railroad development, which would greatly influence transporta...
Cannons boomed simultaneously in New York and San Francisco at the same moment the golden spike was hammered into the ground, connecting the Central Pacific Railroad and the Union Pacific Railroad companies at Promontory Summit, Utah, on May 10, 1869 (American 1). North America became the first continent to be connected by railroad from the Atlantic coast to the Pacific coast when the Transcontinental Railroad was finished (Gale 1). The railroad was an essential component of achieving manifest destiny. The completion of the Transcontinental Railroad spurred settlement in the American West, encouraged immigration, and began an economic boom in the United States.
One of America’s oldest railroads, known as the first common-carrier railroad, was chartered on February 28th 1827, by a group of Baltimore businessmen. The main objective of the railway was to ensure traffic would not be lost to the Chesapeake & Ohio Canal, which was proposed and ground broken the same time as the railroad. The new railroad was a big invention, which allowed people and freight to travel by train. This was a huge improvement for the United States, since everything was becoming more advanced in other countries. The Baltimore and Ohio Railroad Company is the great railroad that owns up to the big title of “The First Common Carrier.” The B&O railroad has a rich history dealing with its background, building, competition, growth tactics, numerous raids, and involvement in the Civil War.
It is their task to find all affected stakeholders involved and make sure to meet their needs. It is also important that they increase their public relations. When an incident like this happens, the public rarely will remember the small details that it wasn’t even Amtrak’s fault. All that will be remembered is that Amtrak had a huge crash that killed 47 people. It is important for Amtrak to recognize this and work towards having customers forget and see the new regulations in place to help prevent this from occurring again in the
The transcontinental railroad was a 1,800 mile railroad linking Omaha, Missouri with Sacramento, California. This railroad was built through varying environmental conditions including grassy plains, desserts, and mountains such as the Sierra. The railroad revolutionized transportation in the nineteenth century (Galloway 4). The First Transcontinental Railroad was built in the 1860s in order to connect the Eastern and Western coasts of the United States. In the book The Railroads, statistical data describes that “In 1830, 23 miles of railroad track were being operated in the United States; by 1890 that figure had grown to 166,703 miles, as cities and villages were linked across the lan...
The Conservatives, still lead by John A. Macdonald, were re-elected in 1879 for economic reasons that we shall discuss in the next lecture. They came to an agreement in 1880 with a Montreal based group to build a transcontinental railway from Montreal to Vancouver by 1891 in exchange for the following subsidies.
Railroads were America’s first big business and contributed a great deal towards advancing industrialization. Beginning in the early 1870's, railroad construction in the United States expanded substantially. Before the year 1871, approximately fourty-five thousand miles of track had been laid. Up until the 1900's another one-hundred and seventy thousand miles were added to the nation's growing railroad system. This growth came about due to the erection of transcontinental railroads. Railroads supplied cities and towns with food, fuel, materials, and access to markets. The railroad system made way for an economic prosperity. The railroad system helped to build the physical growth of cities and towns. It even became another means of communication. Most importantly, it helped to produce a second
During the 1800’s, America was going through a time of invention and discovery known as the Industrial Revolution. America was in its first century of being an independent nation and was beginning to make the transition from a “home producing” nation to a technological one. The biggest contribution to this major technological advancement was the establishment of the Transcontinental Railroad because it provided a faster way to transport goods, which ultimately boosted the economy and catapulted America to the Super Power it is today.
Because of the job opportunities in the West that were advertised throughout the World , many people who found themselves out of place after being freed, or having their livelihood freed, sought to take up shop and make their way to these new opportunities.
After America acquired the West, the need for efficient transportation heightened. Ideas circulated about a railroad that would spread across the continent from East to West. Republican congresses ruled for the federal funding of railroad construction, however, all actions were halted for a few years on account of a war. Following the American Civil War of 1861-1865, the race to build transcontinental railroad began in 1866. Lincoln approved Pacific Railway Act of 1862, granting two railroad companies the right to build the first American transcontinental railroad, (Clark 432).
The railroad played a major role in forging the history of many countries including the United States of America. The railroad began to bring people to places that before then where only accessed by weeks of dangerous travel over harsh and deadly terrain. The industrial revolution had ushered in a completely new era. The new era was one of mass production, supply and demand, and new requirements of industry. The growth of industry had created new demands for transit, trade, and more robust supply lines. The railroad boom across the U.S. had spread and proceeded to grow the economy quickly therefore, many people began using the rail roads just as quickly. The rail market continued to grow and by the 1860’s all major cities within the United States were connected by rail.
The Transcontinental railroad could be defined as the most monumental change in America in the 19th century. The railroad played a significant role in westward expansion and on the growth and development of the American economy (Gillon p.653). However, the construction of the transcontinental railroad may not have occurred if not for the generous support of the federal government. The federal government provided land grants and financial subsidies to railroad companies to ensure the construction. The transcontinental railroad contributed to the formation of industry and the market economy in America and forever altered the American lifestyle.
...beginning of the growth of a nation. The first two decades of railroading were a period of experimentation and rapid industrial development. They soon became a must for the rapidly developing world. They were used for employment, the carrying of freight, and transportation in all parts of America. Americans became dependent on railroads and they were improving them whenever they could. It can be said that Americans would never know a world without railroads again. The invention of the railroad drastically changed the way the United States came to be. The railroad, like any other great invention, evolved from something small to a technological advancement. Railroads started out going about 5 miles an hour, and now go an average of 80 to 100 miles an hour. The evolution of trains wasn’t just then; they are still in the process of getting better and better every day.
Corporate gorverance as a system are directed and controlld by companies. Initially, their board of directors should take responsible for the gorverance of companies, which include setting strategic aims of companies , guarantee an effective leadership, supervising the proformance of business management and reporting on it to shareholders. The board's action should comply with the law, regulations and shareholders. In addition, the shareholders also play an important role in gorverance and they have right to decide who can be employed as the companies' directors and auditors to provide good governance structure for them. Therefore, corporate goverance can be regarded as what the board of a company does and how it sets the values of the company.
Continental Carriers, Inc. | Continental Carriers, Inc This is not an essay. This paper responds to each of the comments raised by the five members of the board. Continental Carriers, Inc. (CCI) should take on the long-term debt. finance the acquisition of Midland Freight, Inc. for a few reasons.