[Federal Register Volume 71, Number 178 (Thursday, September 14, 2006)]
[Notices]
[Page 54337]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-15239]


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DEPARTMENT OF TRANSPORTATON

Surface Transportation Board

[STB Finance Docket No. 34898]


Michael R. Root and Albany & Eastern Railroad Company--
Continuance in Control Exemption--Iron Bull Railroad Company LLC

    Michael R. Root, a noncarrier, and Albany & Eastern Railroad 
Company (AERC), a Class III rail carrier, have filed a verified notice 
of exemption to continue in control of Iron Bull Railroad Company LLC 
(IBR), upon IBR's becoming a rail carrier.\1\
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    \1\ IBR will become a Class III carrier as a result of the 
transaction in STB Finance Docket No. 34897. Mr. Root currently 
controls AERC, a Class III rail carrier. AERC in turn controls IBR. 
Consequently, Mr. Root will control AERC directly and IBR 
indirectly. AERC will control IBR directly.
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    The transaction was expected to be consummated on or after August 
25, 2006 (7 days after the amended notice was filed).
    This transaction is related to notices of exemption in: (1) STB 
Finance Docket No. 34896, PIC Railroad LLC--Lease and Operation 
Exemption--Union Pacific Railroad Company, wherein PIC Railroad LLC 
(PICR) seeks to lease from Union Pacific Railroad Company and operate a 
rail line known as the Comstock Subdivision in Iron County, UT; and (2) 
STB Finance Docket No. 34897, Iron Bull Railroad Company LLC--Operation 
Exemption--PIC Railroad LLC, wherein Iron Bull Railroad Company LLC, 
pursuant to the same regulations and statute, will operate the line.
    Mr. Root and AERC state that: (1) The railroads do not connect with 
each other or any railroad in their corporate family; (2) 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 (3) 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 interest 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. Accordingly, the 
Board may not impose labor protective conditions here, because all of 
the carriers involved are Class III carriers.
    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. 34898, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Thomas F. McFarland, 208 South 
LaSalle Street, Suite 1890, Chicago, IL 60604-1112.
    Board decisions and notice are available on our Web site at http://www.stb.dot.gov.

    Decided: September 8, 2006.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. E6-15239 Filed 9-13-06; 8:45 am]
BILLING CODE 4915-01-P