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[quote user="schlimm"] [quote user="Sam1"] I used the same financial statements.  However, I showed the differences between FY08 and FY09, whereas you are showing just a couple of numbers from the financial statements.  The financial statements contained in the Monthly Operating Report have not been audited.  If prior practices hold forth, some of the results shown in the audited annual report will be different from the numbers shown here.  [/quote]  (sorry, the formatting doesn't transfer) I used the audited National Railroad Passenger Corporation and Subsidiaries (Amtrak) Consolidated Financial Statements for the Years Ended September 30, 2008-2009. National Railroad Passenger Corporation and Subsidiaries (Amtrak) Consolidated Statements of Operations (In Thousands of Dollars) Twelve Months Ended                                                                                            2009 Revenues: Passenger related ......................................................................................... $ 1,813,537 Commuter .......................................................................................................... 147,310 Other ................................................................................................................. 364,767 State capital payments ......................................................................................... 27,179 Total revenues ................................................................................................$ 2,352,793 Expenses: Salaries, wages, and benefits ............................................................................ 1,699,101 Train operations .................................................................................................. 245,736 Fuel, power, and utilities ...................................................................................... 272,801 Materials ............................................................................................................ 209,030 Facility, communication, and office related ............................................................ 168,308 Advertising and sales .......................................................................................... 106,189 Casualty and other claims ..................................................................................... 49,118 Depreciation - net of amortization .............................................................. ...........562,584 Other ................................................................................................................. 299,242 Indirect cost capitalized to property and equipment ............................................... (104,871) Total expenses ................................................................................................. 3,507,238 Net loss from continuing operations before other (income) and expense ............................................................................... 1,154,445 Other (Income) and Expense: Interest income ..................................................................................................... (65,498) Interest expense ................................................................................................... 175,408 Other expense - net .............................................................................................. 109,910 Net loss .......................................................................................................... $ 1,264,355   [quote user="Sam1"]Salaries, wages, and benefits account for approximately 48 per cent of total expenses.  They represent 72.2 per cent of revenues.  They account for 93.6 per cent of passenger related revenues.  However, the flaw in this thinking is that all the salary, wage, and benefit expense is attributable to passenger revenues.  This is probably not true.[/quote]  I would imagine most of it is related, since that is Amtrak's primary business and, in the Notes to Consolidated Financial Statements,  Amtrak indicates that "approximately 90% of Amtrak’s labor force is covered by labor agreements." Of course that does not mean 90% of salary expense is for union employees, but I imagine around 80% is. [/quote] Professional accountants don't have the luxury of imagining.  They are required to show a positive relationship or refrain from an opinion.  Frankly, I don't get your point.  Labor costs, which are usually analyzed in relation to total costs, are just one element in the cost structure.  Taken out of context, the number does not mean very much.  Amtrak loses a bundle of money, more per passenger mile than any other form of commercial transport, and no matter what spin one trys to put on the numbers, the bottom line has been and probably will continue to be that passenger rail will require a greater subsidy than any other form of commercial or private transport.  That does not mean that it should not be supported in select areas, but it should be done with wide open eyes.   My original post, which apparently triggered these responses, was intended to point out that reporters, as well as passenger rail advocates, should tell the complete story when writing about or advocating for passenger rail.  It is a costly alternative, and people should know that. Many of the people who participate in these forums, as well as organizations like NARP, point out the upside of passenger rail but fail to mention the downsides.  That is dishonest.
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