[Federal Register Volume 67, Number 7 (Thursday, January 10, 2002)]
[Notices]
[Page 1402]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-533]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34157]


Keystone Railroad LLC--Acquisition and Operation Exemption--
Keystone Railroad, Inc

    Keystone Railroad LLC (Applicant), a noncarrier, has filed a 
verified notice of exemption under 49 CFR 1150.31 to acquire and 
operate a 132-mile rail line in Northampton County, PA,\1\ owned by its 
corporate affiliate Keystone Railroad, Inc. (Keystone).\2\
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    \1\ Applicant states that the rail line is composed of yard and 
switching tracks and does not have assigned mileposts.
    \2\ Both Applicant and Keystone are wholly owned subsidiaries of 
Bethlehem Steel Corporation.
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    This transaction is related to Bethlehem Steel Corporation--
Corporate Family Transaction Exemption, STB Finance Docket No. 34142 
(STB served Jan. 10, 2002), through which Keystone is to be merged into 
Applicant. The separate existence of Keystone will cease and Applicant 
will be the surviving entity and continue the operations formerly 
provided by Keystone.\3\
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    \3\ The verified notice of exemption indicates that Keystone 
currently conducts operations under its historic trade name of 
Philadelphia Bethlehem and New England Railroad and that Applicant 
will continue to use the same trade name.
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    The transaction was expected to be consummated as of January 1, 
2002. Applicant states that its revenues are expected to exceed 
$5,000,000 per year. Under 49 CFR 1150.32(e), ``If the projected annual 
revenue of the rail lines to be acquired or operated, together with the 
acquiring carrier's projected annual revenue, exceeds $5 million, the 
applicant must, at least 60 days before the exemption becomes 
effective, post a notice of applicant's intent to undertake the 
proposed transaction at the workplace of the employees on the affected 
line(s) and serve a copy of the notice on the national offices of the 
labor unions setting forth the types and numbers of jobs expected to be 
available, the terms of employment and principles of employee 
selection, and the lines that are to be transferred, and certify to the 
Board that it has done so.'' When Applicant filed its verified notice 
of exemption in STB Finance Docket No. 34157, it simultaneously filed a 
request for a waiver of the requirements of 49 CFR 1150.32(e) to permit 
the exemption to become effective without providing the 60-day advance 
notice. Finding no adverse impact on the personnel of Keystone, by 
decision served on December 27, 2001, the Board granted Applicant's 
request and waived the requirements of 49 CFR 1150.32(e). That decision 
had the effect of making the exemption in this proceeding effective on 
December 27, 2001.
    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to reopen the proceeding 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. 34157, 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, a copy of each pleading must be 
served on Eric M. Hockey, Esq., Gollatz, Griffin & Ewing, P.C., 213 
West Miner Street, PO Box 796, West Chester, PA 19381-0796.
    Board decisions and notices are available on our Web site at 
www.stb.dot.gov. 


    Decided: January 2, 2002.
    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 02-533 Filed 1-9-02; 8:45 am]
BILLING CODE 4915-00-P