[Federal Register Volume 67, Number 115 (Friday, June 14, 2002)]
[Notices]
[Pages 40979-40980]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-14952]


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DEPARTMENT OF TRANSPORTATION

[STB Finance Docket No. 34206]


Permian Basin Railways, Inc.--Continuance in Control Exemption--
West Texas and Lubbock Railway Company, Inc. and Austin & Northwestern 
Railroad Company, Inc.

    Permian Basin Railways, Inc. (Permian), a noncarrier holding 
company, has filed a verified notice of exemption to (1) acquire 
control through stock purchase of Austin & Northwestern Railroad 
Company, Inc. (Austin),\1\ a Class III rail carrier, and (2) continue 
in control of Austin and West Texas and Lubbock Railway Company, Inc. 
(Railway), upon Railway's becoming a Class III railroad.
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    \1\ See Austin & Northwestern Railroad Company, Inc.--
Acquisition and Operation Exemption-Missouri Pacific Railroad 
Company, Finance Docket No. 31444 (ICC served May 22, 1989).
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    This transaction was scheduled to be consummated on or after the 
May 24, 2002 effective date of the exemption, 7 days after the 
exemption was filed.
    This transaction is related to STB Docket No. 34205, West Texas and 
Lubbock Railway Company, Inc.--Acquisition and Operation Exemption--
West Texas Lubbock Railroad Company, Inc., wherein Railway seeks to 
acquire and operate approximately 107 miles of rail line by lease (with 
a future purchase option) and assumption of trackage rights from West 
Texas Lubbock Railroad Company, Inc.
    Permian states that: (i) The railroads will not connect with each 
other or any railroads in their corporate family; (ii) the continuance 
in 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).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under sections 11324 
and 11325 that involve only Class III rail carriers. Because this 
transaction involves Class III rail carriers only, the Board, under the 
statute, may not impose labor protective conditions for this 
transaction.
    If the 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. 34206, must be filed with the Surface Transportation 
Board, Case Control Unit, 1925 K Street, NW., Washington, DC 20423-
0001. In addition, a copy of each pleading must be served on John D. 
Heffner, 555 12th Street, NW., Suite 950N, Washington, DC 20004.
    Boards decisions and notices are available on our website at 
``www.stb.dot.gov.''

    Decided: June 7, 2002.


[[Page 40980]]


    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 02-14952 Filed 6-13-02; 8:45 am]
BILLING CODE 4915-00-P