CONRAIL FACES CONTINUING PROBLEMS

Conrail predicts it will become profitable by 1980, but needs $1.3 billion more than the $2.1 billion current Federal authorization. GAO doubts that Conrail will be profitable by 1980, and believes Conrail could require substantially more than the appropriated $2.1 billion and the additional $1.3 billion. To reverse its deterioration Conrail must improve customer service, increase labor productivity, and modernize its yards and terminals. Conrail made substantial investment in track and equipment rehabilitation, but Conrail's improvements program for modernizing yards and terminals lagged because of time-consuming planning processes and only now is beginning to show some vitality. Conrail assumes that other Federal monies amounting to $680 million over the next 5 years will be appropriated to replenish the title V employee protection fund and pay its share of Railroad Retirement Fund assessments.

Media Info

  • Pagination: 76 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00190771
  • Record Type: Publication
  • Source Agency: National Technical Information Service
  • Report/Paper Numbers: CED-78-174
  • Files: TRIS
  • Created Date: Mar 28 1979 12:00AM