[Federal Register Volume 66, Number 76 (Thursday, April 19, 2001)]
[Notices]
[Page 20172]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-9588]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34029]


Archer-Daniels-Midland Company--Control Exemption--BQ Railroad 
Company and Iowa Interstate Railroad, Ltd.

    Archer-Daniels-Midland Company (ADM), a noncarrier, has filed a 
notice of exemption to indirectly control two carriers, BQ Railroad 
Company (BQRR), a Class III railroad, and Iowa Interstate Railroad, 
Ltd. (IAIS), a Class II railroad.\1\
---------------------------------------------------------------------------

    \1\ ADM owns 60.6% of the common stock of Heartland Railroad 
Corporation, a noncarrier holding company, which in turn owns 80.1% 
of the common stock of IAIS, which operates in the States of Iowa 
and Illinois. ADM also indirectly controls Benson-Quinn Company (B-
Q), which in turn controls BQRR.
---------------------------------------------------------------------------

    The transaction was scheduled to be consummated on or shortly after 
April 6, 2001, the effective date of the exemption (7 days after the 
exemption was filed).
    This transaction is related to STB Finance Docket No. 34028, BQ 
Railroad Company--Acquisition and Operation Exemption--Certain Lines of 
The Burlington Northern and Santa Fe Railway Company, wherein BQRR is 
seeking an exemption to acquire and operate approximately 1.64 miles of 
rail line at Rogers, in Barnes County, ND, purchased by its parent 
company B-Q from The Burlington Northern and Santa Fe Railway Company.
    ADM states that: (i) These railroads do not connect with each 
other; (ii) the acquisition of control is not part of a series of 
anticipated transactions that would connect the railroads with each 
other or any railroad in their corporate family; and (iii) the 
transaction does not involve a Class I carrier. Therefore, the 
transaction is exempt from the prior approval requirements of 49 U.S.C. 
11323. See 49 CFR 1180.2(d)(2).
    To ensure that all employees who may be affected by the transaction 
are provided protection as required by 49 U.S.C. 10502(g) and 11326(b), 
the labor protective conditions proposed by the applicants will be 
imposed as follows:

    . . . a fair arrangement at least as protective of the interests 
of employees who are affected by the transaction as the terms 
imposed under section 5(2)(f) of the Interstate Commerce Act before 
February 5, 1976, and the terms established under Section 24706(c) 
of Title 49, United States Code, except that such arrangement shall 
be limited to one year of severance pay, which shall not exceed the 
amount of earnings from the rail employment of that employee during 
the 12-month period immediately preceding the date of this 
application. The amount of such severance pay shall be reduced by 
the amount of earnings from railroad employment of that employee 
with the acquiring carrier during the 12-month period immediately 
following the effective date of the transaction.

    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. 10502(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34029, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW., 
Washington, DC 20423-0001. In addition, one copy of each pleading must 
be served on Andrew P. Goldstein, McCarthy, Sweeney & Harkaway, P.C., 
Suite 600, 2175 K Street, NW., Washington, DC 20037.
    Board decisions and notices are available on our website at 
``WWW.STB.DOT.GOV.''

    Decided: April 12, 2001.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 01-9588 Filed 4-18-01; 8:45 am]
BILLING CODE 4915-00-P