Overregulated and displaced by barges, trucks, and jet aviation, railroads fell into decline. Their misfortune was measured in lost market share, abandoned track, bankruptcies, and unemployment. Today, rail transportation is reviving. American Railroads tells a riveting story about how this iconic industry managed to turn itself around.

The Staggers Rail Act of 1980 allowed freight railroads (FR) to get rid of unprofitable lines and to consolidate their operations. It also allowed the FR to charge lower rates to their customers who operated in a competitive environment, and higher rates to customers who were captive to one FR carrier for transportation service. This review of the Class I FR's recent financial results shows that the Staggers Act's goal of restoring financial stability to the U.S. rail system has been achieved and has produced a rail renaissance. The four Class I railroads that today dominate the U.S. rail shipping market are achieving returns on revenue and operating ratios that rank them among the most profitable bus. in the U.S. Charts and tables. A print on demand report.

v.4: Focuses on railroad employee-management relations during period of Federal control.