[Federal Register Volume 59, Number 29 (Friday, February 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-3289]


[[Page Unknown]]

[Federal Register: February 11, 1994]


-----------------------------------------------------------------------

INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32414 (Sub 2)]

 

Exemption; Rail Management and Consulting Corporation, Et Al. 
Corporate Family and Control Exemptions; Lakeside Transportation, 
L.L.C.

    Rail Management and Consulting Corporation (RMCC), Green Bay 
Packaging, Inc. (GBP), K. Earl Durden (Durden), Panama City Beach 
Office Park, Ltd. (Office Park), and Rail Partners, L.P. (Partners), 
(collectively owners), all noncarriers, have filed a verified notice 
under 49 CFR 1180.2(d) to exempt (1) the merger of Lakeside 
Transportation Co. (LTC), a class III rail carrier, into Lakeside 
Transportation, L.L.C. (Lakeside), a limited liability company, and (2) 
to acquire joint ownership of Lakeside. The parties expected to 
consummate the transactions on or after January 20, 1994.
    Durden and GBP each own 50% of RMCC. RMCC is a general partner 
holding a 1% interest in Partners, and Durden and GPB are limited 
partners holding 49.5% interests. Partners and RMCC control Office 
Park. In addition, Durden, GBP, Partners, and RMCC jointly control 11 
other class III rail carriers.
    LTC, owned by Durden, is leasing and operating about 15.3 miles of 
rail line owned by Norfolk & Western Railway Company under an exemption 
in Lakeside Transportation Co.--Lease and Operation Exemption--Lines of 
Norfolk and Western Railway Company, Finance Docket No. 32414 (ICC 
served Dec. 17, 1993).
    The merger of LTC into Lakeside is a transaction that qualifies for 
the corporate family exemption at 49 CFR 1180.2(d)(3). It will not 
result in adverse changes in service levels, significant operational 
changes, or a change in competitive balance with carriers outside the 
corporate family.
    The joint acquisition of control transaction is exempt from the 
prior approval requirements of 49 U.S.C. 11343 under 49 CFR 
1180.2(d)(2) because: (1) Lakeside does not connect with any other 
railroads in the corporate family; (2) the acquisition of control is 
not a part of a series of anticipated transactions that would connect 
Lakeside with any other railroad in its corporate family; and (3) the 
transaction does not involve a class I carrier.
    As a condition to use of this exemption, any employees affected by 
the transaction will be protected by the conditions set forth in New 
York Dock Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to revoke the exemption 
under 49 U.S.C. 10505(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the exemption's 
effectiveness. Pleadings must be filed with the Commission and served 
on: Patricia E. Dietrich, Slover & Loftus, 1224 Seventeenth Street, 
NW., Washington, DC 20036.

    Decided: February 7, 1994.

    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Sidney L. Strickland, Jr.,
Secretary.
[FR Doc. 94-3289 Filed 2-10-94; 8:45 am]
BILLING CODE 7035-01-P