Wisconsin Central Ltd.-Intra-Corporate Family Merger Exemption-Elgin, Joliet and Eastern Railway Company, 34125-34126 [2012-13941]

Download as PDF 34125 Federal Register / Vol. 77, No. 111 / Friday, June 8, 2012 / Notices WEIGHTED AVERAGE STATE TAX RATES [In percent] 2011 % Railroad BNSF Railway Company ......................................................................................................................... CSX Transportation, Inc. ......................................................................................................................... Grand Trunk Corporation ......................................................................................................................... The Kansas City Southern Railway ......................................................................................................... Norfolk Southern Combined .................................................................................................................... Soo Line Corporation ............................................................................................................................... Union Pacific Railroad Company ............................................................................................................. Any party wishing to comment on AAR’s calculation of the 2011 weighted average state tax rates should file a comment by July 9, 2012. See 49 CFR 1135.2(c). If any comment opposing AAR’s calculations is filed, AAR’s reply will be due by July 30, 2012. Id. If any comments are filed, the Board will review AAR’s submission, together with the comments, and serve a decision within 60 days of the close of the record that either accepts, rejects, or modifies AAR’s railroad-specific tax information. Id. If no comments are filed by July 9, 2012, AAR’s submitted weighted average state tax rates will be automatically adopted by the Board, effective July 10, 2012. Id. This action will not significantly affect either the quality of the human environment or the conservation of energy resources. Decided: June 5, 2012. By the Board. Rachel D. Campbell, Director, Office of Proceedings. Jeffrey Herzig, Clearance Clerk. [FR Doc. 2012–13962 Filed 6–7–12; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION Surface Transportation Board mstockstill on DSK4VPTVN1PROD with NOTICES Indexing the Annual Operating Revenues of Railroads The Surface Transportation Board (STB) is publishing the annual inflationadjusted index factors for 2011. These factors are used by the railroads to adjust their gross annual operating revenues for classification purposes. This indexing methodology insures that railroads are classified based on real business expansion and not from the affects of inflation. Classification is important because it determines the extent to which individual railroads must comply with STB reporting requirements. VerDate Mar<15>2010 16:23 Jun 07, 2012 Jkt 226001 2010 % 5.584 5.660 8.089 6.139 5.942 7.350 6.035 % Change 5.572 5.575 7.634 6.070 5.819 7.305 5.922 0.012 0.085 0.455 0.069 0.123 0.045 0.113 The STB’s annual inflation-adjusted factors are based on the annual average Railroad’s Freight Price Index which is developed by the Bureau of Labor Statistics (BLS). The STB’s deflator factor is used to deflate revenues for comparison with established revenue thresholds. The base year for railroads is 1991. The inflation index factors are presented as follows: By the Board, William F. Huneke, Director, Office of Economics. Jeffrey Herzig, Clearance Clerk. STB RAILROAD INFLATION-ADJUSTED INDEX AND DEFLATOR FACTOR TABLE Wisconsin Central Ltd.—IntraCorporate Family Merger Exemption— Elgin, Joliet and Eastern Railway Company Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Index ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... 409.50 411.80 415.50 418.80 418.17 417.46 419.67 424.54 423.01 428.64 436.48 445.03 454.33 473.41 522.41 567.34 588.30 656.78 619.73 652.29 708.80 Deflator 1 100.00 99.45 98.55 97.70 97.85 98.02 97.50 96.38 96.72 95.45 93.73 91.92 90.03 86.40 78.29 72.09 69.52 62.28 66.00 62.71 57.71 FOR FURTHER INFORMATION CONTACT: Paul Aguiar 202–245–0323. [Federal Information Relay Service (FIRS) for the hearing impaired: 1–800–877–8339] Effective Date: January 1, 2011. 1 Ex Parte No. 492, Montana Rail Link, Inc., and Wisconsin Central Ltd., Joint Petition for Rulemaking With Respect to 49 CFR 1201, 8 I.C.C. 2d 625 (1992), raised the revenue classification level for Class I railroads from $50 million (1978 dollars) to $250 million (1991 dollars), effective for the reporting year beginning January 1, 1992. The Class II threshold was also raised from $10 million (1978 dollars) to $20 million (1991 dollars). PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 [FR Doc. 2012–13938 Filed 6–7–12; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION Surface Transportation Board [Docket No. FD 35630] Wisconsin Central Ltd. (WCL), Wisconsin Central Transportation Corporation (WCTC), and Elgin, Joliet and Eastern Railway Company (EJ&E) (collectively, applicants) have jointly filed a verified notice of exemption under 49 CFR 1180.2(d)(3) for an intracorporate family transaction. WCL, a rail carrier, is a wholly owned subsidiary of WCTC, a noncarrier, which, in turn, is a direct subsidiary of Grand Trunk Corporation (GTC). GTC, a noncarrier holding company for the U.S. rail carrier subsidiaries of Canadian National Railway Company (CNR), is a direct subsidiary of CNR. In Canadian National Railway—Control—Wisconsin Central Transportation, 5 S.T.B. 890 (2001) (CNR/WC), CNR and GTC acquired control of WCL and other related rail carriers.1 EJ&E, a rail carrier, is a direct subsidiary of GTC.2 Applicants state that the rail lines of WCL and EJ&E connect at Leithton, Ill., north of Chicago, Ill., and WCL has existing overhead trackage rights over 1 At the time of the 2001 CNR/WC transaction, the WCTC family of rail carriers also included WCL, Fox Valley & Western Ltd. (FVW), Sault Ste. Marie Bridge Company (SSMB) and Wisconsin Chicago Link Ltd. (WCCL). FVW has since been dissolved into WCL. Wis. Cent. Transp.—Intracorporate Family Transaction Exemption, FD 34296 (STB served Jan. 22, 2003). Applicants state that SSMB and WCCL remain in existence as rail carriers and subsidiaries of WCTC. 2 Canadian Nat’l Ry.—Control—EJ&E W. Co., FD 35087 (STB served Dec. 24, 2008). E:\FR\FM\08JNN1.SGM 08JNN1 mstockstill on DSK4VPTVN1PROD with NOTICES 34126 Federal Register / Vol. 77, No. 111 / Friday, June 8, 2012 / Notices EJ&E’s line to reach the Kirk Yard in Gary, Ind., a major classification and interchange facility, and other interchange locations on the line. Applicants state that the Kirk Yard serves a particularly important function for traffic moving to and from WCL, because WCL does not have substantial yard facilities on its own lines in Chicago. Applicants state that WCL will be merged into WCL’s immediate parent, WCTC, with WCTC as the surviving entity. WCTC then immediately will be renamed Wisconsin Central Ltd. The newly renamed WCL (formerly WCTC) will continue to control SSMB and WCCL as WCTC has done. Pursuant to an agreement and plan of merger by applicants (consented to by GTC), EJ&E will then be merged with and into WCL, with WCL as the surviving corporation. According to applicants, the consolidated entity will continue all existing operations of WCL and EJ&E, but with a unified workforce, enhanced efficiencies, and crew management flexibility in the Chicago terminal. Applicants state that the merger of WCL into WCTC, and the concurrent name change of WCTC to WCL, are expected to occur on September 30, 2012. Applicants state that, subject to negotiation or (if necessary) arbitration of labor implementing agreements, the consummation of the proposed merger of EJ&E with and into WCL would occur on December 31, 2012. They indicate that, in no event, would the transaction occur sooner than June 22, 2012, the effective date of the exemption. The purpose of the intracorporate transaction is to simplify CNR’s corporate structure by consolidating two separate, connecting railroads into a single entity, to reduce the administrative burden associated with tax matters, financial reporting, accounting, IT systems, and corporate filings that are required to support the separate existence of EJ&E, and to address crew management inefficiencies and train service efficiencies in and around the Chicago terminal area, where both carriers involved in the proposed merger currently operate. 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). The parties state that the transaction will not result in adverse changes in service levels, significant operational changes, or any change 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 VerDate Mar<15>2010 16:23 Jun 07, 2012 Jkt 226001 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 Railway— Control—Brooklyn Eastern District Terminal, 360 I.C.C. 60 (1979). 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 automatically stay the effectiveness of the exemption. Petitions for stay must be filed no later than June 15, 2012 (at least seven days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35630, must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, one copy of each pleading must be served on Thomas J. Litwiler, Fletcher & Sippel LLC, 29 North Wacker Drive, Suite 920, Chicago, IL 60606– 2832. Board decisions and notices are available on our Web site at www.stb.dot.gov. Decided: June 5, 2012. By the Board. Rachel D. Campbell, Director, Office of Proceedings. Derrick A. Gardner, Clearance Clerk. [FR Doc. 2012–13941 Filed 6–7–12; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Proposed Collection; Comment Request Notice and request for comments. ACTION: The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions (CDFI) Fund, Department of the Treasury, is soliciting comments concerning reporting and record retention requirements for the Capital Magnet Fund (CMF). SUMMARY: PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 Written comments should be received on or before August 7, 2012 to be assured of consideration. ADDRESSES: Direct all comments to Capital Magnet Fund Manager, Community Development Financial Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220, by email to cdfihelp@cdfi.treas.gov or by facsimile to (202) 622–7754. This is not a toll free number. FOR FURTHER INFORMATION CONTACT: Additional information about CMF may be obtained from the CMF page of the CDFI Fund’s Web site at https:// www.cdfifund.gov. The CMF Program Awardee Annual Report data points may also be obtained from the CMF Program page of the CDFI Fund’s Web site. Requests for any additional information should be directed to John Moon, Program Specialist, Community Development Financial Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220, or call (202) 622–7024. This is not a toll free number. SUPPLEMENTARY INFORMATION: Title: Capital Magnet Fund Reporting. OMB Number: 1559—NEW. Abstract: The purpose of the Capital Magnet Fund (CMF) program is to competitively award grants to certified Community Development Financial Institutions (CDFIs) and qualified nonprofit housing organizations to attract and leverage other finance resources towards the support of affordable housing and related community development projects. The CMF was authorized in July of 2008 under Section 1339 of the Housing and Economic Recovery Act of 2008 (Pub. L. 110–289), and $80 million was appropriated for this initiative under the Consolidated Appropriations Act of 2010 (Pub. L. 111–117). Twenty-three Awardees were competitively selected after a careful review of their program applications. These Awardees entered into Assistance Agreements with the CDFI Fund that set forth certain required terms and conditions of the award, including reporting and data collection requirements. The Assistance Agreement requires the collection of annual reports that are used to collect information for compliance monitoring and program evaluation purposes. This information is reviewed to ensure the Awardee’s compliance with its performance goals and contractual obligations and the overall performance of the program. The CMF Annual Report represents a substantially revised annual collection as compared to the version posted in August 2010 and it DATES: E:\FR\FM\08JNN1.SGM 08JNN1

Agencies

[Federal Register Volume 77, Number 111 (Friday, June 8, 2012)]
[Notices]
[Pages 34125-34126]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-13941]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[Docket No. FD 35630]


Wisconsin Central Ltd.--Intra-Corporate Family Merger Exemption--
Elgin, Joliet and Eastern Railway Company

    Wisconsin Central Ltd. (WCL), Wisconsin Central Transportation 
Corporation (WCTC), and Elgin, Joliet and Eastern Railway Company 
(EJ&E) (collectively, applicants) have jointly filed a verified notice 
of exemption under 49 CFR 1180.2(d)(3) for an intra-corporate family 
transaction.
    WCL, a rail carrier, is a wholly owned subsidiary of WCTC, a 
noncarrier, which, in turn, is a direct subsidiary of Grand Trunk 
Corporation (GTC). GTC, a noncarrier holding company for the U.S. rail 
carrier subsidiaries of Canadian National Railway Company (CNR), is a 
direct subsidiary of CNR. In Canadian National Railway--Control--
Wisconsin Central Transportation, 5 S.T.B. 890 (2001) (CNR/WC), CNR and 
GTC acquired control of WCL and other related rail carriers.\1\ EJ&E, a 
rail carrier, is a direct subsidiary of GTC.\2\
---------------------------------------------------------------------------

    \1\ At the time of the 2001 CNR/WC transaction, the WCTC family 
of rail carriers also included WCL, Fox Valley & Western Ltd. (FVW), 
Sault Ste. Marie Bridge Company (SSMB) and Wisconsin Chicago Link 
Ltd. (WCCL). FVW has since been dissolved into WCL. Wis. Cent. 
Transp.--Intracorporate Family Transaction Exemption, FD 34296 (STB 
served Jan. 22, 2003). Applicants state that SSMB and WCCL remain in 
existence as rail carriers and subsidiaries of WCTC.
    \2\ Canadian Nat'l Ry.--Control--EJ&E W. Co., FD 35087 (STB 
served Dec. 24, 2008).
---------------------------------------------------------------------------

    Applicants state that the rail lines of WCL and EJ&E connect at 
Leithton, Ill., north of Chicago, Ill., and WCL has existing overhead 
trackage rights over

[[Page 34126]]

EJ&E's line to reach the Kirk Yard in Gary, Ind., a major 
classification and interchange facility, and other interchange 
locations on the line. Applicants state that the Kirk Yard serves a 
particularly important function for traffic moving to and from WCL, 
because WCL does not have substantial yard facilities on its own lines 
in Chicago.
    Applicants state that WCL will be merged into WCL's immediate 
parent, WCTC, with WCTC as the surviving entity. WCTC then immediately 
will be renamed Wisconsin Central Ltd. The newly renamed WCL (formerly 
WCTC) will continue to control SSMB and WCCL as WCTC has done. Pursuant 
to an agreement and plan of merger by applicants (consented to by GTC), 
EJ&E will then be merged with and into WCL, with WCL as the surviving 
corporation. According to applicants, the consolidated entity will 
continue all existing operations of WCL and EJ&E, but with a unified 
workforce, enhanced efficiencies, and crew management flexibility in 
the Chicago terminal.
    Applicants state that the merger of WCL into WCTC, and the 
concurrent name change of WCTC to WCL, are expected to occur on 
September 30, 2012. Applicants state that, subject to negotiation or 
(if necessary) arbitration of labor implementing agreements, the 
consummation of the proposed merger of EJ&E with and into WCL would 
occur on December 31, 2012. They indicate that, in no event, would the 
transaction occur sooner than June 22, 2012, the effective date of the 
exemption.
    The purpose of the intracorporate transaction is to simplify CNR's 
corporate structure by consolidating two separate, connecting railroads 
into a single entity, to reduce the administrative burden associated 
with tax matters, financial reporting, accounting, IT systems, and 
corporate filings that are required to support the separate existence 
of EJ&E, and to address crew management inefficiencies and train 
service efficiencies in and around the Chicago terminal area, where 
both carriers involved in the proposed merger currently operate.
    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). The parties state that the transaction will not result in 
adverse changes in service levels, significant operational changes, or 
any change 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 
Railway--Control--Brooklyn Eastern District Terminal, 360 I.C.C. 60 
(1979).
    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 automatically stay the effectiveness of the exemption. 
Petitions for stay must be filed no later than June 15, 2012 (at least 
seven days before the exemption becomes effective).
    An original and 10 copies of all pleadings, referring to Docket No. 
FD 35630, must be filed with the Surface Transportation Board, 395 E 
Street SW., Washington, DC 20423-0001. In addition, one copy of each 
pleading must be served on Thomas J. Litwiler, Fletcher & Sippel LLC, 
29 North Wacker Drive, Suite 920, Chicago, IL 60606-2832.
    Board decisions and notices are available on our Web site at 
www.stb.dot.gov.

    Decided: June 5, 2012.

    By the Board.
Rachel D. Campbell,
Director, Office of Proceedings.
Derrick A. Gardner,
Clearance Clerk.
[FR Doc. 2012-13941 Filed 6-7-12; 8:45 am]
BILLING CODE 4915-01-P
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