• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Accidents

What’s the economic impact of the Amtrak crash?

By
Daniel Bukszpan
Daniel Bukszpan
Down Arrow Button Icon
By
Daniel Bukszpan
Daniel Bukszpan
Down Arrow Button Icon
May 14, 2015, 5:25 PM ET
Emergency workers and Amtrak personnel inspect a derailed Amtrak train in Philadelphia, Pennsylvania
Emergency workers and Amtrak personnel inspect a derailed Amtrak train in Philadelphia, Pennsylvania May 13, 2015. The commuter rail route where an Amtrak train left the track on Tuesday was not governed by an advanced safety technology meant to prevent high-speed derailments, officials familiar with the investigation said on Wednesday. REUTERS/Lucas Jackson - RTX1CUNNPhotograph by Lucas Jackson — Reuters

An eighth body was recovered today from the wreckage of Amtrak Regional 188, which crashed on Tuesday in Philadelphia. The city’s mayor, Michael Nutter, announced that all 243 passengers had now been accounted for.

According to Federal investigators, the train was travelling from Washington D.C. to New York City at 106 miles per hour when it hit a sharp curve and derailed. Robert Sumwalt of the National Transportation Safety Board said that the posted speed limit on that part of the tracks was 50 miles per hour.

While many people are still reeling from this tragedy, a stubborn fact remains – thousands of people still have to travel through the Northeast Corridor which, according to Amtrak, comprises 457 mainline route miles travelled by 260 million passengers annually, at a rate of 2,200 trains per day.

The company said that the yearly contribution to GDP of that workforce is $50 billion, and a single day of lost service could carry a potential economic cost of $100 million to the businesses and consumers affected by it. Some prominent executives, including Abid Gilani, a senior vice president in Wells Fargo & Co.’s commercial real estate division, also were among the passengers who died in the crash.

While Amtrak service between Philadelphia and New York City is currently suspended, Amtrak is suggesting alternative modes of travel to avoid such a catastrophic financial loss. It recommends that travellers rely on free shuttle buses run by the Southeastern Pennsylvania Transportation Authority (SEPTA) into New Jersey, then take trains offered by NJ Transit, which is currently honoring Amtrak tickets. Nancy Snyder, a spokesperson for NJ Transit, said what everyone affected by this crash was surely thinking.

“We advise our customers to allot for additional travel time,” she said, according to CNBC.com. “We anticipate ridership to increase.” CNBC.com also reported that Delta Airlines was experiencing increased ridership between Ronald Reagan Washington National Airport and La Guardia Airport in New York City, and that American Airlines had added two round-trip flights between those two airports yesterday.

Affected travellers can also choose to ride the bus. Greyhound spokesperson Lanesha Gipson told Fortune in an interview that the company had implemented measures to accommodate the influx of customers.

“We’ve added additional buses,” she said. “We have 10 buses added from New York City to Philadelphia and six buses from New York to D.C. We’re honoring all Amtrak tickets.”

She said that although the company had no hard numbers indicating exactly how large the increase in ridership was, she acknowledged an increase in customer volume. However, she added that Greyhound would be able to handle the overflow, both in terms of available buses and in terms of cost to the company.

“We don’t foresee any challenges accommodating this surge in ridership,” she said.

Marc Magliari, Amtrak spokesperson, said it is the intention of Amtrak to reopen the affected segment of the Northeast corridor by Tuesday.

So what can be done to prevent this sort of thing from happening again? Reuters reported yesterday that Amtrak is in the process of installing a positive train control (PTC) system, a technology that automatically slows trains moving too fast into a zone such as the sharply-curved section of rail where the derailment occurred. Robert Sumwalt of the National Transportation Safety Board said that such technology would have made Tuesday’s accident impossible.

“Based on what we know right now, we feel that had such a system been installed in this section of track, this accident would not have occurred,” he said. The entire U.S. rail industry is required by law to have this technology in place by the end of 2015.

Daniel Bukszpan is a New York-based freelance writer.

About the Author
By Daniel Bukszpan
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Photo: YOLO
InvestingMarkets
There’s a $150 billion ‘YOLO’ trade incoming that will boost stocks by the end of March, Wells Fargo says
By Jim EdwardsFebruary 18, 2026
33 minutes ago
Personal FinanceCertificates of Deposit (CDs)
Top CD rates today, Feb. 18, 2026: Lock in up to up to 4.15%
By Glen Luke FlanaganFebruary 18, 2026
58 minutes ago
Personal FinanceSavings accounts
Today’s top high-yield savings rates: Up to 5.00% on Feb. 18, 2026
By Glen Luke FlanaganFebruary 18, 2026
58 minutes ago
NewslettersFortune Tech
As AI looms over the iPhone’s future, Apple is hedging its bets with three wearables
By Alexei OreskovicFebruary 18, 2026
1 hour ago
NewslettersCEO Daily
Goldman Sachs scraps DEI criteria for its board as the business case for boardroom diversity only grows more compelling
By Diane BradyFebruary 18, 2026
1 hour ago
Personal Financemortgages
Current mortgage rates report for Feb. 18, 2026: Rates slip below 6.00%
By Glen Luke FlanaganFebruary 18, 2026
4 hours ago

Most Popular

placeholder alt text
AI
Thousands of CEOs just admitted AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago
By Sasha RogelbergFebruary 17, 2026
17 hours ago
placeholder alt text
Economy
$56 trillion national debt leading to a spiraling crisis: Budget watchdog warns the U.S. is walking a crumbling path
By Nick LichtenbergFebruary 17, 2026
19 hours ago
placeholder alt text
Personal Finance
Current price of silver as of Tuesday, February 17, 2026
By Joseph HostetlerFebruary 17, 2026
22 hours ago
placeholder alt text
Economy
Trump crackdown drives 80% plunge in immigrant employment, reshaping labor market, Goldman says
By Nick LichtenbergFebruary 17, 2026
14 hours ago
placeholder alt text
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezFebruary 15, 2026
3 days ago
placeholder alt text
Personal Finance
You need $2 million to retire and 'almost no one is close,' BlackRock CEO warns, a problem that Gen X will make 'harder and nastier'
By Sydney LakeFebruary 17, 2026
18 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.