Conrail, short for the Consolidated Rail Corporation, was created in 1976 to manage and revitalize several bankrupt railroads in the northeastern United States. It aimed to improve rail service and infrastructure, ensuring efficient freight transportation in a region that was struggling economically. In 1997, Conrail was split between two major rail companies, CSX Transportation and Norfolk Southern, which took over its operations. This merger allowed for enhanced service and competition in the rail industry, ultimately benefiting both freight customers and the economy in the areas served by Conrail.