[Federal Register Volume 69, Number 245 (Wednesday, December 22, 2004)]
[Notices]
[Page 76830]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-27860]


-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34614] \1\


Permian Basin Railways, Inc.--Acquisition of Control Exemption--
Arizona Eastern Railway Company, Inc.
---------------------------------------------------------------------------

    \1\ Simultaneously with this filing, in STB Finance Docket No. 
34613, Permian filed a verified notice of exemption to acquire 
control of West Texas and Lubbock Railroad Company, Inc., a Class 
III short line railroad.
---------------------------------------------------------------------------

    Permian Basin Railways, Inc. (Permian),\2\ a noncarrier and short 
line railroad holding company, has filed a verified notice of exemption 
to acquire control through purchase of 100% of the outstanding stock of 
Arizona Eastern Railway Company, Inc. (AERC),\3\ a Class III short line 
railroad.
---------------------------------------------------------------------------

    \2\ Permian owns the stock of two Class III short line 
railroads, West Texas and Lubbock Railway Company, Inc. and the 
Austin & Northwestern Railway Company, Inc., d/b/a Texas New Mexican 
Railroad.
    \3\ AERC is currently owned by Kyle Railways, Inc., a wholly-
owned subsidiary of RailAmerica Transportation Corp., a short line 
railroad holding company.
---------------------------------------------------------------------------

    The transaction was scheduled to be consummated on or about 
December 1, 2004.
    Permian states that: (i) The railroads do not connect; (ii) the 
transaction is not part of a series of anticipated transactions that 
would connect these 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. Accordingly, the 
Board may not impose labor protective conditions here, because all of 
the carriers involved are Class III rail carriers.
    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 stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34614, 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: John D. Heffner, 1920 N 
Street, NW., Suite 800, Washington, DC 20036.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: December 13, 2004.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 04-27860 Filed 12-21-04; 8:45 am]
BILLING CODE 4915-01-P