Cincinnati.Com
NKY.COM  |  ENQUIRER  |  CIN WEEKLY  |  Classifieds  |  Cars  |  Homes  |  Jobs  |  Help
Currently:
33°F
Flurries
Weather | Traffic
The Enquirer
HOME
NEWS
ENTERTAINMENT
SPORTS
REDS
BENGALS
LOCAL GUIDE
MULTIMEDIA
ARCHIVES
SEARCH
 
 TODAY'S ENQUIRER 
 Front Page 
 Local News 
 Sports 
-- Business 
 Editorials 
 Tempo 
 Home Style 
 Travel 
 Health 
 Technology 
 Weather 
 Back Issues 
 Search 
 Subscribe 

 SPORTS 
 Bearcats 
 Bengals 
 High School 
 Reds 
 Xavier 

 VIEWPOINTS 
 Jim Borgman 
 Columnists 
 Readers' views 

 ENTERTAINMENT 
 Movies 
 Dining 
 Horoscopes 
 Lottery Results 
 Local Events 
 Video Games 

 CINCINNATI.COM 
 Giveaways 
 Maps/Directions 
 Send an E-Postcard 
 Coupons 
 Visitor's Guide 
 Web Directory 

 CLASSIFIEDS 
 Jobs 
 Cars 
 Homes 
 General 
 Place an ad 

 HELP 
 Feedback 
 Subscribe 
 Search 
 Newsroom Directory 



 
Tuesday, June 25, 2002

Mineta: Amtrak shutdown avoidable


Federal help, cut in expenses part of solution

By Laurence Arnold
The Associated Press

        WASHINGTON — Transportation Secretary Norman Mineta expressed confidence Monday that the nation's passenger rail system will not be shut down this week, but he offered no immediate solution to Amtrak's financial problems.

        Breaking from an emergency meeting of Amtrak's board of directors, Mr. Mineta said a solution will require both a cut in Amtrak's expenses and federal financial help.

        “I am confident that we will be able to avoid a shutdown of services,” Mr. Mineta said. “We have much more work to do but we will continue to work on an effective solution.”

        Mr. Mineta said the administration and Amtrak will work with Congress to make sure passenger rail service continues. He said the administration should not bear the responsibility alone for Amtrak's problems.

        “This must be a team effort,” he said. “The burden is not on the administration to save the rail system from bankruptcy, nor should it be.”

        During President Bush's visit to New Jersey, he stressed the importance of reform at Amtrak, said White House spokeswoman Claire Buchan. The president wants an Amtrak “driven by sound economics,” she said.

        Members of Amtrak's governing board gathered in Washington for a Monday afternoon meeting with Mr. Mineta, who last week outlined several changes for therailroad.

        Amtrak's new president, David Gunn, says he is open to change but first must find $200 million to close a budget shortfall.

        The Federal Railroad Administration, a part of the Transportation Department, is reviewing Amtrak's request for a loan guarantee for the needed $200 million. Amtrak has had trouble tapping its existing line of credit because lenders are unsure how long it can remain in business.

        If the railroad administration were to rule that Amtrak does not qualify for a loan guarantee, the only options would be a congressional appropriation or an order by lawmakers that the agency grant one.

        But time is running out: Without a loan guarantee from the Federal Railroad Administration, a part of the Transportation Department, Mr. Gunn has said he would have to begin turning away passengers and directing trains to storage yards by the middle of this week.

        A shutdown of Amtrak also could affect commuter railroads serving hundreds of thousands of people, mostly along the Atlantic Seaboard.

       



Three Tristate businesses in top 100
Diagnosis: Take it to dealer
No. 2 airline asks for federal help
- Mineta: Amtrak shutdown avoidable
Dynegy announces plan to shore up finances
Enron workers to receive extra $29 million in severance
Global Crossing confirms 'isolated' shredding of documents
Jury awards research hospital $200 million in punitive damages
Microsoft discloses ambitious new security effort
Business Digest
Morning Memo
Tristate Summary
What's the Buzz?

 

Latest Headline News
Updated Every 30 Minutes
BUSINESS NEWS

U.S. Rises in Auto Reliability Ratings

Congolese Shun Own Currency for Dollars

Delta Air Lines Posts $52M Profit in 3Q

Prepared Holiday Meals Up in Popularity

Christmas Returns to Wal-Mart Marketing


Cincinnati.Com
Search our site by keyword:  
Search also: News | Jobs | Homes | Cars | Classifieds | Obits | Coupons | Events | Dining
Movies/DVDs | Video Games | Hotels | Golf | Visitor's Guide | Maps/Directions | Yellow Pages

  CINCINNATI.COM  |  NKY.COM  |  ENQUIRER  |  CIN WEEKLY  |  Classifieds  |  Cars  |  Homes  |  Jobs  |  Help


Search | Questions/help | News tips | Letters to the editors | Subscribe
Newspaper advertising | Web advertising | Place a classified | Circulation

Copyright 1995-2007. The Cincinnati Enquirer, a Gannett Co. Inc. newspaper.
Use of this site signifies agreement to terms of service updated 12/19/2002.