Federal Register / Vol. 77, No. 198 / Friday, October 12, 2012 / Notices 62311 

1On February 12, 2010, Berkshire purchased the 

common stock of BNSF’s parent company that 

Berkshire did not already own in a transaction 

valued at $34.5 million in cash and Berkshire stock 

(the Purchase Price). See Burlington Northern Santa 

Fe Corporation, Schedule 13D (Amendment No. 4 

to Schedule 13D), at 6 (Feb. 16, 2010), available at 

http://www.sec.gov/Archives/edgar/data/934612/ 

000119312510032484/dsc13da.htm. The Purchase 

Price reflected a premium of approximately $22 

billion over the net book value of the preacquisition BNSF, which was approximately $13 

billion. Out of the $22 billion, BNSF stated in its 

2010 STB Form R–1 annual report that it increased 

the cost of its tangible assets by approximately $8.1 

billion to reflect their fair market value, and 

allocated $14 billion to goodwill. 

2An entity that is not a rail carrier must obtain 

prior Board approval to acquire a railroad line 

through an asset purchase. See 49 U.S.C. 

10901(a)(4). But the acquisition by a non-railroad of 

a controlling stock interest in a company that owns 

a railroad line does not trigger § 10901(a)(4). Prior 

Board approval of the acquisition of a controlling 

interest in the stock of a rail carrier is only required 

where the purchaser already controls a rail carrier. 

See 49 U.S.C. 11323. 

3The September 13, 2012 and September 25, 

2012 Berkshire letters, as well as the Board’s 

September 18, 2012 and October 9, 2012 responses, 

have been added to this docket. 

DEPARTMENT OF STATE 

[Public Notice 8061] 

Culturally Significant Objects Imported 

for Exhibition Determinations: ‘‘Royal 

Treasures From the Louvre: Louis XIV 

to Marie-Antoinette’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236–3 of August 28, 2000 (and, as 

appropriate, Delegation of Authority No. 

257 of April 15, 2003), I hereby 

determine that the objects to be 

included in the exhibition ‘‘Royal 

Treasures from the Louvre: Louis XIV to 

Marie-Antoinette’’ imported from 

abroad for temporary exhibition within 

the United States, are of cultural 

significance. The objects are imported 

pursuant to a loan agreement with the 

foreign owner or custodian. I also 

determine that the exhibition or display 

of the exhibit objects at the Fine Arts 

Museums of San Francisco, San 

Francisco, CA, from on or about 

November 17, 2012, until on or about 

March 17, 2013, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. I have ordered that Public 

Notice of these Determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Julie 

Simpson, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6467). The 

mailing address is U.S. Department of 

State, SA–5, L/PD, Fifth Floor (Suite 

5H03), Washington, DC 20522–0505. 

Dated: October 3, 2012. 

J. Adam Ereli, 

Principal Deputy Assistant Secretary, Bureau 

of Educational and Cultural Affairs, 

Department of State. 

[FR Doc. 2012–25167 Filed 10–11–12; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF TRANSPORTATION 

Surface Transportation Board 

[Docket No. FD 35506] 

Western Coal Traffic League—Petition 

for Declaratory Order 

AGENCY: Surface Transportation Board, 

DOT. 

ACTION: Notice of request for comments. 

SUMMARY: The Surface Transportation 

Board seeks comments from the public 

addressing the recent discovery that 

Berkshire Hathaway Inc. (Berkshire), 

owned or controlled CBEC Railway 

(CBEC) and White City Terminal Union 

Railway (WCTU) when it acquired 

BNSF Railway Company (BNSF) in 

February 2010, thus subjecting 

Berkshire’s acquisition of BNSF to the 

Board’s jurisdiction pursuant to 49 

U.S.C. 11323. Specifically, the Board 

seeks comments addressing the effect, if 

any, of this discovery on the postFebruary 2010 valuation of BNSF’s asset 

base. 

DATES: Comments are due by November 

8, 2012. Replies are due by November 

28, 2012. 

ADDRESSES: Comments and replies may 

be submitted either via the Board’s efiling format or in traditional paper 

format. Any person using e-filing should 

attach a document and otherwise 

comply with the instructions at the EFILING link on the Board’s Web site at 

http://www.stb.dot.gov. Any person 

submitting a filing in the traditional 

paper format should send an original 

and 10 copies referring to Docket No. FD 

35506 to: Surface Transportation Board, 

395 E Street SW., Washington, DC 

20423–0001. 

FOR FURTHER INFORMATION CONTACT: 

Valerie Quinn, (202) 245–0382. 

Assistance for the hearing impaired is 

available through the Federal 

Information Relay Service (FIRS) at 

(800) 877–8339. 

SUPPLEMENTARY INFORMATION: By a letter 

dated September 13, 2012, in response 

to an inquiry from the Board, Berkshire 

stated that it owned or controlled CBEC 

and WCTU at the time of Berkshire’s 

acquisition of BNSF in February 2010,1

thus subjecting this transaction to the 

Board’s jurisdiction pursuant to 49 

U.S.C. 11323. Berkshire also 

acknowledged that the 2008 purchase of 

its initial 60% ownership stake in the 

Marmon Group, which holds WCTU 

through one of its subsidiaries, was 

likely subject to Board jurisdiction. In 

its letter, Berkshire stated that it intends 

to fully comply with the requirements of 

§ 11323 by divesting itself of CBEC and 

WCTU. 

The Board responded to Berkshire in 

a letter dated September 18, 2012, 

stating that Berkshire is not permitted to 

own or control multiple carriers without 

Board authorization, and that according 

to the facts it disclosed, Berkshire failed 

to comply with the requirements of 

§ 11323 when it acquired BNSF, and 

when it first obtained control over both 

the CBEC and WCTU.2 The Board 

directed Berkshire to submit within 10 

days a letter specifying the method and 

timing by which it proposed to remedy 

its failure to comply with § 11323, and 

further stated that the Board would, at 

that time, consider whether further 

action is warranted. 

By letter dated September 25, 2012,3

Berkshire responded to the Board, 

stating that it fully intends to complete 

the divestiture of both WCTU and CBEC 

to persons that are neither rail carriers, 

as defined by 49 U.S.C. 10102(5), nor 

owners of other rail carriers, so that 

neither divestiture would be subject to 

Board jurisdiction, pursuant to § 11323, 

no later than December 31, 2012. 

Berkshire stated that it and its 

subsidiaries are currently in the process 

of valuing both rail carriers and 

contacting potential transferees. 

Berkshire proposed to update the Board 

on the progress of these divestitures on 

November 1, 2012 and December 1, 

2012. The Board replied to Berkshire by 

letter on October 9, 2012, stating that 

prompt divestiture is an appropriate 

remedy under Board precedent, and 

directing Berkshire to submit written 

progress reports on November 1, 2012 


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