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December 4, 2001
AMTRAK REFORM COUNCIL'S NEXT SCHEDULED MEETING WILL BE ON
FRIDAY, DECEMBER 14, 2001
9:30 a.m. - 4:00 p.m.
Ballroom (2nd Floor)
Loews L'Enfant Plaza Hotel
480 L'Enfant Plaza, S.W.
Washington, D.C. 20024
Options for an Action Plan to Restructure Amtrak for Submission
to Congress by February 7, 2002
November 9th, the Amtrak Reform Council approved a resolution
finding that Amtrak would not achieve operational self-sufficiency
by December 2, 2002 as required by the Amtrak Reform and Accountability
Act of 1997. The Council's Finding starts a 90-day clock in
which the Council must submit an action plan for a restructured
and rationalized national rail passenger system to Congress.
During this same time period, Amtrak must submit a plan to
Congress for liquidation.
meeting is the first scheduled Council meeting following the
Council's decision to make a finding. During the meeting,
Council members will begin the process of discussing the merits
of various options for restructuring Amtrak.
November 13th, Council Chairman Gilbert E. Carmichael sent
a letter to the President and the appropriate Congressional
committees informing them of the Council's decision and outlining
the lack of progress by Amtrak in its effort to achieve operational
self-sufficiency. These factors include:
is not on the glide-path to operating self-sufficiency.
Amtrak's FY2001 performance was worse than its performance
in FY2000, and Amtrak is in a weaker financial position
than prior to passage of the ARAA.
FY2001, the Council estimates that Amtrak will lose approximately
$340 million for the purposes of operational self-sufficiency,
and lose over $1 billion under Generally Accepted Accounting
letter to the President is currently available on the ARC
For more information regarding this meeting, please contact
Deirdre O'Sullivan at (202) 366-0631.
Reform Council is an independent Federal oversight commission
established under the provisions of the Amtrak Reform and
Accountability Act of 1997 (P. L. 105-134) to recommend improvements
in Amtrak's operations and to monitor its financial performance.
400 Seventh Street, SW
Fax: (202) 493-2061
The ARC is an independent federal commission established under the Amtrak Reform
and Accountability Act of 1997 (P.L. 105-134).