Federal Register / Vol. 69, No. 6 / Friday, January 9, 2004 / Notices 1611

4See American Stock Exchange LLC Company 

Guide Section 101(a)(2).

5 15 U.S.C. 78(b)(5). 6 17 CFR 200.30–3(a)(12).

Generally Accepted Accounting 

Principles (‘‘GAAP’’). As such, the 

Exchange proposes to amend PCXE 

Rules 5.2(c) and 5.2(k) to remove the 

term ‘‘non-recurring’’ and replace it 

with the term ‘‘income from continuing 

operations,’’ a term the Exchange 

represents is recognized under GAAP. 

The Exchange believes that this change 

should remove any uncertainty in the 

initial listing process that existed for 

both issuers and investors. 

In modifying the initial listing 

requirement for Tier I issuers, the 

Exchange also proposes to eliminate the 

requirement that an issuer have net 

income of at least $400,000, excluding 

non-recurring and extraordinary items. 

The Exchange states that this change is 

proposed to be consistent with the 

initial listing requirements of another 

exchange.4 The Exchange represents 

that this change is not expected to make 

the Exchange’s Tier I listing 

requirements any more or less 

restrictive.

Under the proposed modifications to 

the initial listing requirements for Tier 

II issuers, the Exchange states that it 

does not propose to change the method 

upon which it calculates whether an 

issuer meets the income requirement. 

Under the existing rules, the Exchange 

states that it currently does not include 

both the income and corresponding 

expenses from nonrecurring and 

extraordinary items in calculating a 

potential issuers net earnings. The 

Exchange represents that the proposed 

change will have no effect on the 

Exchange’s Tier II listing requirements. 

2. Statutory Basis 

The Exchange believes that the 

proposal furthers the objectives of 

Section 6(b)(5) of the Act 5 in that it is 

designed to promote just and equitable 

principles of trade and to protect 

investors and the public interest.

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments were neither 

solicited nor received with respect to 

the proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the Exchange consents, 

the Commission will: 

(A) By order approve such proposed 

rule change, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Persons making written submissions 

should file six copies thereof with the 

Secretary, Securities and Exchange 

Commission, 450 Fifth Street, NW., 

Washington, DC 20549–0609. 

Comments may also be submitted 

electronically at the following e-mail 

address: rule-comments@sec.gov. All 

comment letters should refer to File No. 

SR–PCX–2003–62. This file number 

should be included on the subject line 

if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, comments 

should be sent in hardcopy or by e-mail 

but not by both methods. Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing will also be 

available for inspection and copying at 

the principal office of the PCX. All 

submissions should refer to File No. 

SR–PCX–2003–62 and should be 

submitted by January 30, 2004.

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.6

Jill M. Peterson, 

Assistant Secretary.

[FR Doc. 04–404 Filed 1–8–04; 8:45 am] 

BILLING CODE 8010–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration 

Public Notice for Waiver of 

Aeronautical Land-Use Assurance, 

Gerald R. Ford International Airport, 

Grand Rapids, MI

AGENCY: Federal Aviation 

Administration, DOT.

ACTION: Notice of intent of waiver with 

respect to land; correction. 

SUMMARY: This document contains one 

correction to a notice and request for 

comments that was published in the 

Federal Register on Monday, December 

22, 2003 (68 FR 71219). Federal 

Register document 03–31418, published 

December 22, 2003 (68 FR 71219, 

concerns a proposal to change a portion 

of the airport from aeronautical use to 

non-aeronautical use and to authorize 

the sale of the airport property. The 

proposal consists of 3 parcels of land 

totaling approximately 16.33 acres. This 

correction revises the public comment 

period to read as follows:

DATES: Comments must be received on 

or before February 9, 2004. 

All other information remains 

unchanged.

Issued in Romulus, Michigan on December 

24, 2003. 

Irene R. Porter, 

Manager, Detroit Airports District Office, 

FAA, Great Lakes Region.

[FR Doc. 04–245 Filed 1–8–04; 8:45 am] 

BILLING CODE 4910–73–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration 

Public Notice for Waiver of 

Aeronautical Land-Use Assurance; 

Quad City International Airport, Moline, 

IL

AGENCY: Federal Aviation 

Administration, DOT.

ACTION: Notice of intent of waiver with 

respect to land. 

SUMMARY: The Federal Aviation 

Administration (FAA) is considering a 

proposal to change a portion of airport 

land from aeronautical use to nonaeronautical use and to authorize the 

sale of the airport property. The 

proposal consists of Parcel OO–4, a 

14.380-acre portion of Parcel OO 

(consisting of three Tracts: 1—3.787 

acres, Tract 2—1.044 acres, and Tract 

3—9.549 acres). Presently the land is 

vacant and used as open land for control 

of FAR Part 77 surfaces and compatible 

land use and is not needed for