[Federal Register Volume 64, Number 218 (Friday, November 12, 1999)]
[Notices]
[Pages 61687-61688]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-29481]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board
[STB Docket No. MC-F-20955]


Stagecoach Holdings plc and Coach USA, Inc., et al.--Control--
Golden Isles Coaches of Florida, Inc

AGENCY: Surface Transportation Board.

ACTION: Notice Tentatively Approving Finance Application.

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SUMMARY: Stagecoach Holdings plc (Stagecoach) and its subsidiary, Coach 
USA, Inc. (Coach), noncarriers, and various subsidiaries of each 
(collectively, applicants), filed an application under 49 U.S.C. 14303 
to acquire control of Golden Isles Coaches of Florida, Inc. (Golden 
Isles), a motor passenger carrier. Persons wishing to oppose the 
application must follow the rules under 49 CFR 1182.5 and 1182.8. The 
Board has tentatively approved the transaction, and, if no opposing 
comments are timely filed, this notice will be the final Board action.

DATES: Comments must be filed by December 27, 1999. Applicants may file 
a reply by January 11, 2000. If no comments are filed by December 27, 
1999, this notice is effective on that date.

ADDRESSES: Send an original and 10 copies of any comments referring to 
STB Docket No. MC-F-20955 to: Surface Transportation Board, Office of 
the Secretary, Case Control Unit, 1925 K Street, NW, Washington, DC 
20423-0001. In addition, send one copy of comments to applicants' 
representative: Betty Jo Christian, Steptoe & Johnson LLP, 1330 
Connecticut Avenue, NW, Washington, DC 20036.

FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600. [TDD for 
the hearing impaired: (202) 565-1695.].

SUPPLEMENTARY INFORMATION: Stagecoach is a public limited company 
organized under the laws of Scotland. With operations in eight 
countries, Stagecoach is one of the world's largest providers of 
passenger transportation services. It had annual revenues for the 
fiscal year ending April 30, 1999, of $2.475 billion. Coach is a 
Delaware corporation that currently controls 82 motor passenger 
carriers.
    Stagecoach and its subsidiaries currently control 
Coach,1 its noncarrier regional management subsidiaries, and 
the motor passenger carriers jointly controlled by Coach and the 
management subsidiaries.2 In previous Board decisions, Coach 
management subsidiaries, including Coach USA Southeast, Inc. 
(Southeast), have obtained authority to control motor passenger 
carriers jointly with Coach,3 one of which is ASTI, Inc. 
(ASTI),4 the corporate parent and owner of all of the stock 
of Golden Isles.
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    \1\ Stagecoach controls Coach through various subsidiaries, 
namely, SUS 1 Limited, SUS 2 Limited, Stagecoach General 
Partnership, and SCH US Holdings Corp.
    \2\ See Stagecoach Holdings plc--Control--Coach USA, Inc., et 
al., STB Docket No. MC-F-20948 (STB served July 22, 1999).
    \3\ See Coach USA, Inc. and Coach USA North Central, Inc.--
Control--Nine Motor Carriers of Passengers, STB Docket No. MC-F-
20931, et al. (STB served July 14, 1999).
    \4\ ASTI was formerly known as American Sightseeing Tours, Inc. 
It now operates, pursuant to a name change approved by the Federal 
Highway Administration in May 1999, as ASTI, Inc., d/b/a Coach USA, 
Inc.
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    Applicants state that, in 1996, when Coach acquired Golden Isles as 
part of the transaction in which it acquired ASTI, Golden Isles 
surrendered its federally issued motor carrier operating authority and 
ceased operating as a carrier. Thus, Coach did not request Board 
authority to control Golden Isles at that time, as it was not required. 
According to applicants, Golden Isles has recently obtained new federal 
operating authority authorizing operations as a motor passenger carrier 
to conduct charter and special operations.5 Applicants, 
therefore, seek Board authority to control Golden Isles.6
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    \5\ Golden Isles is a Florida corporation. It holds federally 
issued operating authority in Docket No. MC-224982, which authorizes 
it to provide charter and special operations between points in the 
United States.
    \6\ Applicants state that the stock of Golden Isles has been 
placed in an independent voting trust pending disposition of this 
proceeding. They anticipate that ASTI will reacquire Golden Isles' 
stock upon approval of this application.
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    Applicants have submitted information, as required by 49 CFR 
1182.2(a)(7), to demonstrate that the proposed acquisition of control 
is consistent with the public interest. Applicants state that the 
proposed transaction will not reduce competitive options, adversely 
impact fixed charges, or adversely impact the interests of the 
employees of Golden Isles. They assert that granting the application 
will allow Golden Isles to continue to take advantage of economies of 
scale and substantial benefits offered by applicants, including 
interest cost savings and reduced operating costs. In addition, 
applicants have submitted all of the other statements and 
certifications required by 49 CFR 1182.2. Additional information, 
including a copy of the application, may be obtained from the 
applicants' representative.
    Under 49 U.S.C. 14303(b), we must approve and authorize a 
transaction we find consistent with the public interest, taking into 
consideration at least: (1) the effect of the transaction on the 
adequacy of transportation to the public; (2) the total fixed charges 
that result; and (3) the interest of affected carrier employees.
    On the basis of the application, we find that the proposed 
acquisition of control is consistent with the public interest and 
should be authorized. If any opposing comments are timely filed, this 
finding will be deemed vacated and, unless a final decision can be made 
on the record as developed, a procedural schedule will be adopted to 
reconsider the application. See 49 CFR 1182.6(c). If no opposing 
comments are filed by the expiration of the comment period, this 
decision will take effect automatically and will be the final Board 
action.
    Board decisions and notices are available on our website at

``WWW.STB.DOT.GOV.''


[[Page 61688]]


    This decision will not significantly affect either the quality of 
the human environment or the conservation of energy resources.

It is Ordered

    1. The proposed acquisition of control is approved and authorized, 
subject to the filing of opposing comments.
    2. If timely opposing comments are filed, the findings made in this 
decision will be deemed as having been vacated.
    3. This decision will be effective on December 27, 1999, unless 
timely opposing comments are filed.
    4. A copy of this notice will be served on: (1) the U.S. Department 
of Transportation, Office of Motor Carrier Safety--HMCE-20, 400 
Virginia Avenue, SW, Suite 600, Washington, DC 20024; (2) the U.S. 
Department of Justice, Antitrust Division, 10th Street & Pennsylvania 
Avenue, NW, Washington, DC 20530; and (3) the U.S. Department of 
Transportation, Office of the General Counsel, 400 7th Street, SW, 
Washington, DC 20590.

    Decided: November 4, 1999.

    By the Board, Chairman Morgan, Vice Chairman Clyburn, and 
Commissioner Burkes.
Vernon A. Williams,
Secretary.
[FR Doc. 99-29481 Filed 11-10-99; 8:45 am]
BILLING CODE 4915-00-P