[Federal Register Volume 69, Number 158 (Tuesday, August 17, 2004)]
[Notices]
[Pages 51144-51145]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-18776]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Ex Parte No. 552 (Sub-No. 8)]


Railroad Revenue Adequacy--2003 Determination

AGENCY: Surface Transportation Board.

ACTION: Notice of decision.

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SUMMARY: On August 12, 2004, the Board served a decision announcing the 
2003 revenue adequacy determinations for the Nation's Class I 
railroads. No carrier is found to be revenue adequate.

EFFECTIVE DATE: This decision is effective August 12, 2004.

FOR FURTHER INFORMATION CONTACT: Leonard J. Blistein, (202) 565-1529. 
(Federal Information Relay Service (FIRS) for the hearing impaired: 1 
(800) 877-8339.)

SUPPLEMENTARY INFORMATION: The Board is required to make an annual 
determination of railroad revenue adequacy. A railroad is considered 
revenue adequate under 49 U.S.C. 10704(a) if it achieves a rate of 
return on net investment equal to at least the current cost of capital 
for the railroad industry for 2003, determined to be 9.4% in Railroad 
Cost of Capital--2003, STB Ex Parte No. 558 (Sub-No. 7) (STB served 
June 28, 2004). This revenue

[[Page 51145]]

adequacy standard was applied to each Class I railroad, and no carrier 
was found to be revenue adequate for 2003.
    The Board's decision is posted on the Board's Web site, http://www.stb.dot.gov. In addition, copies of the decision may be purchased 
from ASAP Document Solutions by calling 301-577-2600 or by e-mailing 
[email protected].

Environmental and Energy Considerations

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

Regulatory Flexibility Analysis

    Pursuant to 5 U.S.C. 603(b), we conclude that our action in this 
proceeding will not have a significant economic impact on a substantial 
number of small entities. The purpose and effect of the action is 
merely to update the annual railroad industry revenue adequacy finding. 
No new reporting or other regulatory requirements are imposed, directly 
or indirectly, on small entities.

    Decided: August 11, 2004.

    By the Board, Chairman Nober, Vice Chairman Mulvey, and 
Commissioner Buttrey.
Vernon A. Williams,
Secretary.
[FR Doc. 04-18776 Filed 8-16-04; 8:45 am]
BILLING CODE 4915-01-P