THE NATIONAL RAILROAD PASSENGER CORPORATION - A MODERN HYBRID CORPORATION NEITHER PRIVATE NOR PUBLIC

The National Railroad Passenger Corporation, Amtrak, is a hybrid from either a legal or a commercial point of view. It might be described as a private corporation with quasi-public obligations or as a public corporation with quasi-private obligations. This article discusses the extent to which it is public and private and the extent to which its board of directors has different or additional responsibilities compared with corporate directors in general. Amtrak was founded to take over a moribund passenger service and it is debatable whether the concept of profit was ever fully compatible with Amtrak's obligation to service the public convenience and necessity. Congressional actions from 1970 through 1975, by acts of what might be described as selective breeding, appear to reflect the public desire to develop in Amtrak a strong, permanent and distinct species of public service corporation which may not yet have found its ultimate form.

  • Corporate Authors:

    American Bar Association

    750 N. Lake Shore Drive
    Chicago, IL  USA  60611
  • Authors:
    • Adams, A
  • Publication Date: 1976-1

Media Info

  • Pagination: p. 601-619
  • Serial:
    • Business Lawyer
    • Volume: 31
    • Issue Number: 2
    • Publisher: American Bar Association

Subject/Index Terms

Filing Info

  • Accession Number: 00130985
  • Record Type: Publication
  • Files: TRIS
  • Created Date: May 14 1976 12:00AM