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Federal Register/Vol. 73, No. 240/Friday, December 12, 2008

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Federal Register/Vol. 73, No. 240/Friday, December 12, 2008 75810 Federal Register / Vol. 73, No. 240 / Friday, December 12, 2008 / Notices Watco currently indirectly controls 19 filed no later than December 19, 2008 (at U.S. carrier subsidiaries, following the Class III rail carriers: South Kansas and least 7 days before the exemption acquisition of control of DM&E and Oklahoma Railroad Company, Palouse becomes effective). IC&E by Soo Holding (and, indirectly, River & Coulee City Railroad, Inc., An original and 10 copies of all by CPR). The elimination of IC&E and Timber Rock Railroad, Inc., Stillwater pleadings, referring to STB Finance Cedar American as separate corporate Central Railroad, Inc., Eastern Idaho Docket No. 35204, must be filed with entities will streamline DM&E’s Railroad, Inc., Kansas & Oklahoma the Surface Transportation Board, 395 E corporate structure, reduce Railroad, Inc., Pennsylvania Street, SW., Washington, DC 20423– administration expenses, and improve 0001. In addition, one copy of each Southwestern Railroad, Inc., Great the overall efficiency of DM&E. Northwest Railroad, Inc., Kaw River pleading must be served on Karl Morell, Railroad, Inc., Mission Mountain 1455 F Street, NW., Suite 225, This is a transaction within a Railroad, Inc., Mississippi Southern Washington, DC 20005. corporate family of the type specifically Railroad, Inc., Yellowstone Valley Board decisions and notices are exempted from prior review and Railroad, Inc., Louisiana Southern available on our Web site at http:// approval under 49 CFR 1180.2(d)(3). Railroad, Inc., Arkansas Southern www.stb.dot.gov. The parties state that the transaction Railroad, Inc., Alabama Southern Decided: December 5, 2008. will not result in adverse changes in Railroad, Inc., Vicksburg Southern By the Board, David M. Konschnik, service levels, significant operational Railroad, Inc., Austin Western Railroad, Director, Office of Proceedings. changes, or any change in the Inc., Baton Rouge Southern Railroad, Jeffrey Herzig, competitive status quo with carriers 2 LLC, and Pacific Sun Railroad, L.L.C. Clearance Clerk. outside the corporate family. Watco states that the purpose of the [FR Doc. E8–29314 Filed 12–11–08; 8:45 am] proposed transaction is to reduce Under 49 U.S.C. 10502(g), the Board overhead expenses, and coordinate BILLING CODE 4915–01–P may not use its exemption authority to billing, maintenance, mechanical and relieve a rail carrier of its statutory obligation to protect the interests of its personnel policies and practices of its DEPARTMENT OF TRANSPORTATION rail carrier subsidiaries, and thereby employees. As a condition to the use of improve the overall efficiency of rail Surface Transportation Board this exemption, any employees service provided by the railroads in its adversely affected by this transaction corporate family. [STB Finance Docket No. 35202] will be protected by the conditions set Watco represents that: (1) The rail Canadian Pacific Railway Company, forth in New York Dock Ry.—Control— lines to be operated by AWR do not Soo Line Holding Company, and Brooklyn Eastern Dist., 360 I.C.C. 60 connect with any other railroads in the Dakota, Minnesota & Eastern Railroad (1979). Watco corporate family; (2) the Corporation, et al.—Corporate Family If the notice contains false or transaction is not part of a series of Transaction—Iowa, Chicago & Eastern misleading information, the exemption anticipated transactions that would Railroad Corporation is void ab initio. Petitions to revoke the connect the rail lines with any other railroad in the Watco corporate family; Canadian Pacific Railway Company exemption under 49 U.S.C. 10502(d) and (3) the transaction does not involve (CPR), Soo Line Holding Company (Soo may be filed at any time. The filing of a Class I rail carrier. Therefore, the Holding), Dakota, Minnesota & Eastern a petition to revoke will not transaction is exempt from the prior Railroad Corporation (DM&E), and Iowa, automatically stay the transaction. approval requirements of 49 U.S.C. Chicago & Eastern Railroad Corporation Petitions for stay must be filed no later 11323. See 49 CFR 1180.2(d)(2). (IC&E) have jointly filed a verified than December 19, 2008 (at least 7 days Under 49 U.S.C. 10502(g), the Board notice of exemption under 49 CFR before the exemption becomes may not use its exemption authority to 1180.2(d)(3) for an intra-corporate effective). relieve a rail carrier of its statutory family transaction. DM&E currently has An original and 10 copies of all obligation to protect the interests of its one wholly owned direct subsidiary, pleadings, referring to STB Finance employees. Section 11326(c), however, Cedar American Rail Holdings, Inc. Docket No. 35202, must be filed with does not provide for labor protection for (Cedar American), a noncarrier. Cedar the Surface Transportation Board, 395 E American has two wholly owned transactions under sections 11324 and Street, NW., Washington, DC 20423– subsidiaries: IC&E and Wyoming Dakota 11325 that involve only Class III rail 0001. In addition, one copy of each carriers. Accordingly, the Board may not Railroad Properties, Inc. (Wyoming pleading must be served on Terence M. impose labor protective conditions here, Dakota), a noncarrier. The transaction Hynes, Sidley Austin LLP, 1501 K because all of the carriers involved are involves the merger of Cedar American Class III carriers. and IC&E with and into DM&E, with Street, NW., Washington, DC 20005. If the verified notice contains false or DM&E being the surviving corporation. Board decisions and notices are misleading information, the exemption Upon completion of the transaction, available on our Web site at http:// is void ab initio. Petitions to revoke the Cedar American and IC&E would cease www.stb.dot.gov. to exist, with Wyoming Dakota exemption under 49 U.S.C. 10502(d) Decided: December 9, 2008. may be filed at any time. The filing of becoming a direct subsidiary of DM&E. a petition to revoke will not DM&E will continue to be a direct By the Board, David M. Konschnik, automatically stay the effectiveness of subsidiary of Soo Holding and a ‘‘sister’’ Director, Office of Proceedings. the exemption. Stay petitions must be corporation of Soo Line Railroad Jeffrey Herzig, Company. Clearance Clerk. 2 Watco notes that it has recently filed a notice The transaction is scheduled to be [FR Doc. E8–29451 Filed 12–11–08; 8:45 am] to control another new carrier, but indicates that the consummated as soon as practicable BILLING CODE 4915–01–P above transaction is expected to be consummated after December 26, 2008, the effective first. See Watco Companies—Continuance in Control Exemption—Grand Elk Railroad, LLC, STB date of the exemption. Finance Docket No. 35188 (STB served Nov. 17, The purpose of the transaction is to 2008). simplify the corporate structure of CPR’s VerDate Aug<31>2005 17:56 Dec 11, 2008 Jkt 217001 PO 00000 Frm 00146 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1 jlentini on PROD1PC65 with NOTICES.
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