Fortress Investment Group LLC, et al.-Exemption for Transaction Within a Corporate Family, 14873-14874 [E8-5546]

Download as PDF Federal Register / Vol. 73, No. 54 / Wednesday, March 19, 2008 / Notices Information, RTS–42, Bureau of Transportation Statistics, 1200 New Jersey Avenue, SE., Washington, DC 20590–0001, (202) 366–4387. SUPPLEMENTARY INFORMATION: OMB Approval No. 2138–0013. Title: Report of Financial and Operating Statistics for Large Certificated Air Carriers. Form No.: BTS Form 41. Type of Review: Extension of a currently approved collection. Respondents: Large certificated air carriers. Number of Respondents: 88. Estimated Time per Response: 4 hours per schedule, an average carrier may submit 90 schedules in one year. Total Annual Burden: 31,680 hours. Needs and Uses: Program uses for Form 41 data are as follows: Mail Rates The U.S. Department of Transportation (DOT) sets and updates the international and mainline Alaska mail rates based on carrier aircraft operating expense, traffic and operational data. Form 41 cost data, especially fuel costs, terminal expenses, and line haul expenses are used in arriving at rate levels. DOT revises the established rates based on the percentage of unit cost changes in the carriers’ operations. These updating procedures have resulted in the carriers receiving rates of compensation that more closely parallel their costs of providing mail service and contribute to the carriers’ economic well-being. jlentini on PROD1PC65 with NOTICES Submission of U.S. Carrier Data to ICAO As a party to the Convention on International Civil Aviation, the United States is obligated to provide the International Civil Aviation Organization with financial and statistical data on operations of U.S. air carriers. Over 99 percent of the data filed with ICAO is extracted from the carriers’ Form 41 reports. Standard Foreign Fare and Rate Levels DOT uses Form 41 cost data to calculate the Standard Foreign Fare Level (SFFL) for passengers and the Standard Foreign Rate Level (SFRL) for freight. Any international fare or rate set below this fare level are automatically approved. Separate passenger fare and rate levels are established for Canadian, Atlantic, Latin America, and Pacific areas. In markets where liberal bilateral or multilateral pricing agreements provide for more competitive open market pricing, such agreements may take precedence over the SFFL and SFRL. VerDate Aug<31>2005 16:50 Mar 18, 2008 Jkt 214001 14873 Carrier Fitness DEPARTMENT OF TRANSPORTATION Fitness determinations are made for both new entrants and established U.S. domestic carriers proposing a substantial change in operations. A portion of these applications consists of an operating plan for the first year (14 CFR Part 204) and an associated projection of revenues and expenses. The carrier’s operating costs, included in these projections, are compared against the cost data in Form 41 for a carrier or carriers with the same aircraft type and similar operating characteristics. Such a review validates the reasonableness of the carrier’s operating plan. Form 41 reports, particularly balance sheet reports and cash flow statements play a major role in the identification of vulnerable carriers. Data comparisons are made between current and past periods in order to assess the current financial position of the carrier. Financial trend lines are extended into the future to analyze the continued viability of the carrier. DOT reviews three areas of a carrier’s operation: (1) The qualifications of its management team, (2) its disposition to comply with laws and regulations, and (3) its financial posture. DOT must determine whether or not a carrier has sufficient financial resources to conduct its operations without imposing undue risk on the traveling public. Moreover, once a carrier is operating, DOT is required to monitor its continuing fitness. Senior DOT officials must be kept fully informed as to all current and developing economic issues affecting the airline industry. In preparing financial conditions reports or status reports on a particular airline, financial and traffic data are analyzed. Briefing papers may use the same information. The Confidential Information Protection and Statistical Efficiency Act of 2002 (44 U.S.C. 3501 note), requires a statistical agency to clearly identify information it collects for non-statistical purposes. BTS hereby notifies the respondents and the public that BTS uses the information it collects under this OMB approval for non-statistical purposes including, but not limited to, publication of both Respondent’s identity and its data, submission of the information to agencies outside BTS for review, analysis and possible use in regulatory and other administrative matters. Surface Transportation Board M. Clay Moritz, Jr., Assistant Director, Airline Information, Bureau of Transportation Statistics. [FR Doc. E8–5545 Filed 3–18–08; 8:45 am] BILLING CODE 4910–HY–P PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 [STB Finance Docket No. 35123] Fortress Investment Group LLC, et al.—Exemption for Transaction Within a Corporate Family Fortress Investment Group LLC, on behalf of certain private equity firms managed by it and its affiliates (Fortress); FECR Rail LLC (FECR Rail), a Delaware limited liability company and affiliate of Fortress; FECR Rail Corp (FECR Railcorp), a Delaware corporation and wholly owned subsidiary of FECR Rail; Florida East Coast Railway, LLC (FECR), a Florida limited liability company and wholly owned subsidiary of FECR Railcorp; RR Acquisition Holding LLC (RR Acquisition), a Delaware limited liability company and affiliate of Fortress; RailAmerica, Inc. (RailAmerica), a Delaware corporation and wholly owned subsidiary of RR Acquisition; Palm Beach Holding, Inc. (PB Holding), a Delaware corporation and wholly owned subsidiary of RailAmerica; and RailAmerica Transportation Corp. (RTC), a Delaware corporation and wholly owned subsidiary of PB Holding, have jointly filed a verified notice of exemption under 49 CFR 1180.2(d)(3) for a transaction within a corporate family. Fortress controls RailAmerica, and it indirectly controls that entity’s rail carrier subsidiaries (collectively, RailAmerica Railroads).1 Fortress also indirectly controls FECR.2 The instant transaction involves the merger of FECR Railcorp with and into PB Holding and the subsequent contribution of all of the limited liability company interests of FECR from PB Holding to RTC.3 As a result of the transaction, FECR will become a wholly owned rail subsidiary of RTC, and a sister company to the RailAmerica Railroads. The transaction is scheduled to be consummated as soon as possible after April 2, 2008, the effective date of the exemption. 1 See Fortress Investment Group LLC, et al.— Control Exemption—Rail America, Inc., et al., STB Finance Docket No. 34972 (STB served Dec. 22, 2006) (Rail America Control). 2 See Fortress Investment Group LLC, et al.— Control—Florida East Coast Railway, LLC, STB Finance Docket No. 35031 (STB served Sept. 28, 2007). 3 Immediately following the merger of FECR Railcorp with and into PB Holding, FECR Rail will merge with and into RR Acquisition, the Delaware limited liability company through which Fortress currently controls RailAmerica and the RailAmerica Railroads. RR Acquisition obtained authority to control the RailAmerica Railroads in Rail America Control. E:\FR\FM\19MRN1.SGM 19MRN1 14874 Federal Register / Vol. 73, No. 54 / Wednesday, March 19, 2008 / Notices jlentini on PROD1PC65 with NOTICES The purpose of the transaction is to align the transportation-related activities of all of the rail carriers controlled by Fortress within RailAmerica, and to facilitate more efficient management of those carriers. The parties anticipate that the transaction will present opportunities to enhance the efficiency of both FECR and the RailAmerica Railroads through the sharing of locomotive and car fleets, consolidation of certain administrative functions, sharing of management expertise, and common purchasing of insurance, rolling stock, equipment and vehicles, track materials and other materials and supplies. This is a transaction within a corporate family of the type specifically exempted from prior review and approval under 49 CFR 1180.2(d)(3). According to the parties, the transaction will not result in adverse changes in service levels, significant operational changes, or changes in the competitive balance with carriers outside the corporate family. 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. As a condition to the use of this exemption, any employees adversely affected by this transaction will be protected by the conditions set forth in New York Dock Ry.—Control— Brooklyn Eastern Dist., 360 I.C.C. 60 (1979). 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 effectiveness of the exemption. Stay petitions must be filed no later than March 26, 2008 (at least 7 days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to STB Finance Docket No. 35123, must be filed with the Surface Transportation Board, 395 E Street, SW., Washington, DC 20423– 0001. In addition, a copy of each pleading must be served on Terence M. Hynes, Sidley Austin LLP, 1501 K Street, NW., Washington, DC 20005. Board decisions and notices are available on our Web site at https:// www.stb.dot.gov. Decided: March 11, 2008. By the Board, David M. Konschnik, Director, Office of Proceedings. Anne K. Quinlan, Acting Secretary. [FR Doc. E8–5546 Filed 3–18–08; 8:45 am] BILLING CODE 4915–01–P VerDate Aug<31>2005 16:50 Mar 18, 2008 Jkt 214001 DEPARTMENT OF TRANSPORTATION Surface Transportation Board [STB Docket No. AB–398 (Sub-No. 8X)] San Joaquin Valley Railroad Company—Abandonment Exemption— in Tulare County, CA On February 28, 2008, San Joaquin Valley Railroad Company (SJVR) filed with the Board a petition under 49 U.S.C. 10502 for exemption from the provisions of 49 U.S.C. 10903 to abandon a 9.20-mile portion of its South Exeter Branch extending between milepost 259.40, near Exeter, and milepost 268.60, near Strathmore, in Tulare County, CA. The line traverses United States Postal Service Zip Codes 93221, 93247, and 93267, and includes the stations of Strathmore and Lindsay. The line sought to be abandoned does not contain federally granted rights-ofway. Any documentation in SJVR’s possession will be made available promptly to those requesting it. The interest of railroad employees will be protected by the conditions set forth in Oregon Short Line R. Co.— Abandonment—Goshen, 360 I.C.C. 91 (1979). Petitioner indicates that the proposed abandonment may generate comments, and it requests that the Board adopt a procedural schedule to allow it to file rebuttal to any comments received. Instead of addressing the request at this time, the Board will allow petitioner to raise the matter again if comments and replies in response to the petition are actually filed. Comments and replies to the petition for exemption are due on or before April 8, 2008. Once comments and replies are filed, SJVR may request leave to file rebuttal. By issuance of this notice, the Board is instituting an exemption proceeding pursuant to 49 U.S.C. 10502(b). A final decision will be issued by June 17, 2008. Any OFA under 49 CFR 1152.27(b)(2) will be due no later than 10 days after service of a decision granting the petition for exemption. Each OFA must be accompanied by a $1,300 filing fee. See 49 CFR 1002.2(f)(25). All interested persons should be aware that, following abandonment of rail service and salvage of the line, the line may be suitable for other public use, including interim trail use. Any request for a public use condition under 49 CFR 1152.28 or for trail use/rail banking under 49 CFR 1152.29 will be due no later than April 8, 2008. Each trail use request must be accompanied by a $200 filing fee. See 49 CFR 1002.2(f)(27)(i). PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 All filings in response to this notice must refer to STB Docket No. AB–398 (Sub-No. 8X) and must be sent to: (1) Surface Transportation Board, 395 E Street, SW., Washington, DC 20423– 0001; and (2) Louis E. Gitomer, 600 Baltimore Avenue, Suite 301, Towson, MD 21204. Persons seeking further information concerning the abandonment procedures may contact the Board’s Office of Governmental and Public Affairs at (202) 245–0230 or refer to the full abandonment or discontinuance regulations at 49 CFR part 1152. Questions concerning environmental issues may be directed to the Board’s Section of Environmental Analysis (SEA) at (202) 245–0305. [Assistance for the hearing impaired is available through the Federal Information Relay Service at 1–800–877–8339.] An environmental assessment (EA) (or environmental impact statement (EIS), if necessary), prepared by SEA will be served upon all parties of record and upon any agencies or other persons who commented during its preparation. Other interested persons may contact SEA to obtain a copy of the EA (or EIS). EAs in these abandonment proceedings normally will be made available within 60 days of the filing of the petition. The deadline for submission of comments on the EA will generally be within 30 days of its service. Board decisions and notices are available on our Web site at https:// www.stb.dot.gov. Decided: March 13, 2008. By the Board, David M. Konschnik, Director, Office of Proceedings. Anne K. Quinlan, Acting Secretary. [FR Doc. E8–5548 Filed 3–18–08; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request March 13, 2008. The Department of the Treasury will submit the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13 on or after the date of publication of this notice. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

[Federal Register Volume 73, Number 54 (Wednesday, March 19, 2008)]
[Notices]
[Pages 14873-14874]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-5546]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35123]


Fortress Investment Group LLC, et al.--Exemption for Transaction 
Within a Corporate Family

    Fortress Investment Group LLC, on behalf of certain private equity 
firms managed by it and its affiliates (Fortress); FECR Rail LLC (FECR 
Rail), a Delaware limited liability company and affiliate of Fortress; 
FECR Rail Corp (FECR Railcorp), a Delaware corporation and wholly owned 
subsidiary of FECR Rail; Florida East Coast Railway, LLC (FECR), a 
Florida limited liability company and wholly owned subsidiary of FECR 
Railcorp; RR Acquisition Holding LLC (RR Acquisition), a Delaware 
limited liability company and affiliate of Fortress; RailAmerica, Inc. 
(RailAmerica), a Delaware corporation and wholly owned subsidiary of RR 
Acquisition; Palm Beach Holding, Inc. (PB Holding), a Delaware 
corporation and wholly owned subsidiary of RailAmerica; and RailAmerica 
Transportation Corp. (RTC), a Delaware corporation and wholly owned 
subsidiary of PB Holding, have jointly filed a verified notice of 
exemption under 49 CFR 1180.2(d)(3) for a transaction within a 
corporate family. Fortress controls RailAmerica, and it indirectly 
controls that entity's rail carrier subsidiaries (collectively, 
RailAmerica Railroads).\1\ Fortress also indirectly controls FECR.\2\ 
The instant transaction involves the merger of FECR Railcorp with and 
into PB Holding and the subsequent contribution of all of the limited 
liability company interests of FECR from PB Holding to RTC.\3\ As a 
result of the transaction, FECR will become a wholly owned rail 
subsidiary of RTC, and a sister company to the RailAmerica Railroads.
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    \1\ See Fortress Investment Group LLC, et al.--Control 
Exemption--Rail America, Inc., et al., STB Finance Docket No. 34972 
(STB served Dec. 22, 2006) (Rail America Control).
    \2\ See Fortress Investment Group LLC, et al.--Control--Florida 
East Coast Railway, LLC, STB Finance Docket No. 35031 (STB served 
Sept. 28, 2007).
    \3\ Immediately following the merger of FECR Railcorp with and 
into PB Holding, FECR Rail will merge with and into RR Acquisition, 
the Delaware limited liability company through which Fortress 
currently controls RailAmerica and the RailAmerica Railroads. RR 
Acquisition obtained authority to control the RailAmerica Railroads 
in Rail America Control.
---------------------------------------------------------------------------

    The transaction is scheduled to be consummated as soon as possible 
after April 2, 2008, the effective date of the exemption.

[[Page 14874]]

    The purpose of the transaction is to align the transportation-
related activities of all of the rail carriers controlled by Fortress 
within RailAmerica, and to facilitate more efficient management of 
those carriers. The parties anticipate that the transaction will 
present opportunities to enhance the efficiency of both FECR and the 
RailAmerica Railroads through the sharing of locomotive and car fleets, 
consolidation of certain administrative functions, sharing of 
management expertise, and common purchasing of insurance, rolling 
stock, equipment and vehicles, track materials and other materials and 
supplies.
    This is a transaction within a corporate family of the type 
specifically exempted from prior review and approval under 49 CFR 
1180.2(d)(3). According to the parties, the transaction will not result 
in adverse changes in service levels, significant operational changes, 
or changes in the competitive balance with carriers outside the 
corporate family.
    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. As a condition to the use of 
this exemption, any employees adversely affected by this transaction 
will be protected by the conditions set forth in New York Dock Ry.--
Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
    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 effectiveness of the 
exemption. Stay petitions must be filed no later than March 26, 2008 
(at least 7 days before the exemption becomes effective).
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 35123, must be filed with the Surface Transportation 
Board, 395 E Street, SW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Terence M. Hynes, Sidley Austin 
LLP, 1501 K Street, NW., Washington, DC 20005.
    Board decisions and notices are available on our Web site at http:/
/www.stb.dot.gov.

    Decided: March 11, 2008.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Anne K. Quinlan,
Acting Secretary.
 [FR Doc. E8-5546 Filed 3-18-08; 8:45 am]
BILLING CODE 4915-01-P
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