Amtrak Mismanaged Funds for Ambitious New York to Boston Project, Report Says.

By Anthony Flint, The Boston Globe Knight Ridder/Tribune Business News

Mar. 9--The goal of a three-hour train trip between Boston and New York has not been achieved because Amtrak mismanaged the ambitious initiative, according to a report released yesterday by the General Accounting Office.

Amtrak officials acknowledged problems in the planning and execution of the $3.2 billion high-speed rail project, but also point out that adequate funding was not made available to make key improvements to tracks, bridges, and overhead electrical wires.

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