Read more on this subject: Business/ Commerce
News Story Source: https://www.zerohedge.com, by Tyler Durden
Next up on the list is Amtrak, who is now apparently banking on a $1 billion bailout, according to the Wall Street Journal.
Like other major businesses, everybody staying home has had a profoundly and disproportionately negative affect on Amtrak, which has seen its ridership plummet. And it apparently comes just before the railroad was going to eek out a profit for the first time in its 50 year history.
That's a shame. Perhaps the company should have focused on turning a profit at some point over the last 5 decades a little quicker?
But we digress. Bookings on the company's Acela have fallen 99% through the end of last week as total ridership has fallen 92% across the national railroad system.
CEO Richard Anderson said: "There's really no one riding the Acela. There's no point operating empty trains."
High speed service between Boston and Washington has been shut down, along with 40% of the railroad's capaci
Read More or Make a Comment
