Rail

Amtrak president warns of shut down

Posted on June 6, 2002

Amtrak President David Gunn has warned that the cash-strapped passenger railroad will shut down all service next month unless it gets a $200 million loan in the next three weeks, reported The Associated Press. Gunn is hopeful the loan will come through, Amtrak spokesman Bill Schulz said Thursday. As collateral, Amtrak can use $200 million of the federal appropriation it expects to receive when the new fiscal year begins Oct. 1, said the AP. Amtrak's governing board will meet in Washington Thursday, where Gunn will propose a sweeping company reorganization including reducing the number of "vice president" titles from 84 to about 20 and consolidation of Amtrak's three railroad operating divisions.

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