Texas Bus and Limo Acquisition Corp.-Control-GBJ, Inc.; Echo Tours and Charters L.P.; Roadrunner Charters, Inc.; Star Shuttle, Inc.; Tri-City Charters of Bossier, Inc., 39063-39064 [2014-16056]

Download as PDF Federal Register / Vol. 79, No. 131 / Wednesday, July 9, 2014 / Notices DEPARTMENT OF TRANSPORTATION Surface Transportation Board [Docket No. MCF 21058 1] Texas Bus and Limo Acquisition Corp.—Control—GBJ, Inc.; Echo Tours and Charters L.P.; Roadrunner Charters, Inc.; Star Shuttle, Inc.; TriCity Charters of Bossier, Inc. AGENCY: Surface Transportation Board, DOT. Notice Tentatively Authorizing Finance Transaction. ACTION: Texas Bus and Limo Acquisition Corp. (TBL), GBJ, Inc. (GBJ), Echo Tours and Charters L.P. (Echo), Roadrunner Charters, Inc. (Roadrunner), and Star Shuttle, Inc. (Star) (collectively, Applicants) have filed an application under 49 U.S.C. 14303 for Echo to acquire control of Tri-City Charters of Bossier, Inc. (Tri-City), and for TBL thereafter to acquire control of GBJ, Echo, Roadrunner, and Star. The Board is tentatively approving and authorizing the transaction, and, if no opposing comments are timely filed, this notice will be the final Board action. Persons wishing to oppose the application must follow the rules at 49 CFR 1182.5 and 1182.8. DATES: Comments must be filed by August 25, 2014. Applicants may file a reply by September 8, 2014. If no comments are filed by August 25, 2014, this notice shall be effective on August 26, 2014. ADDRESSES: Send an original and 10 copies of any comments referring to Docket No. MCF 21058 to: Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, send one copy of comments to Applicant’s representative: Richard P. Schweitzer, Richard P. Schweitzer, PLLC, Suite 800, 1776 K Street NW., Washington, DC 20006. FOR FURTHER INFORMATION CONTACT: Scott Zimmerman, (202) 245–0386. Federal Information Relay Service (FIRS) for the hearing impaired: 1–800– 877–8339. SUPPLEMENTARY INFORMATION: TBL is a noncarrier holding company organized as a C Corp in Texas. Under the proposed transaction, TBL would acquire ownership and control of the stock of four Federally regulated motor carriers of passengers: Echo (MC– 755212), GBJ (MC–369531), Roadrunner sroberts on DSK5SPTVN1PROD with NOTICES SUMMARY: 1 A request for interim approval under 49 U.S.C. 14303(i) was included in Applicants’ filing. In a decision served on July 9, 2014 in related Docket No. MCF 21058 TA, interim approval is granted, effective on the service date of that decision. VerDate Mar<15>2010 20:08 Jul 08, 2014 Jkt 232001 (MC–467373), and Star (MC–309567). Before TBL’s acquisition of those four carriers, Echo would acquire 100 percent control of Tri-City (MC– 370884), another Federally regulated motor carrier of passengers. (Echo, GBJ, Roadrunner, Star, and Tri-City are collectively called ‘‘Applicant carriers.’’) Applicants state that, additionally, $75 million in debt among Echo, GBJ, Roadrunner, and Star is being consolidated and restructured. If the transaction is approved, upon completion: (1) Echo would own 100 percent of the Tri-City stock (as well as its equipment and operating authority); (2) TBL would own 100 percent of the stock of Echo, GBJ, Roadrunner, and Star; and (3) Echo, GBJ, Roadrunner, and Star would own 100 percent of the TBL stock in equal shares. Applicants state that by consolidating their operations under TBL, they would be able to gain efficiencies and to consolidate and restructure debt of each carrier. Applicants state that TBL, GBJ, Roadrunner, and Star are not affiliated with any other motor carriers. GBJ provides interstate charter transportation, local city shuttle service, and sedan service in the Houston metropolitan area. Roadrunner provides charter services in the Dallas/Fort Worth metropolitan area. Star provides charter, convention, and tour operations, as well as paratransit and transit services, in the San Antonio and Austin markets. TriCity, which has no parent, subsidiaries, or affiliates, provides charter service in Louisiana, Texas, and other parts of the southeast United States. Echo, which is owned and controlled by a limited general partnership organized under an unincorporated entity called ET&C GP, provides charter, tour, and local city shuttle transportation in the Dallas, Fort Worth, Abilene, Tyler, and Waco markets. Echo owns 100 percent of the stock of its subsidiary, Echo Transportation Solutions, LLC, which provides premium sedan and limousine service but does not operate commercial vehicles and holds no federal or state operating authority; Echo also owns and controls 50 percent of the stock of Gotta Go Tours by Patti, LLC, a company that provides tour marketing services and also holds no Federal or state operating authority. Under 49 U.S.C. 14303(b), the Board must approve and authorize a transaction that it finds consistent with the public interest, taking into consideration at least: (1) The effect of the proposed transaction on the adequacy of transportation to the public; (2) the total fixed charges that result; and (3) the interest of affected carrier PO 00000 Frm 00214 Fmt 4703 Sfmt 4703 39063 employees. Applicants have submitted information, as required by 49 CFR 1182.2, including the information to demonstrate that the proposed transaction is consistent with the public interest under 49 U.S.C. 14303(b), and a statement that Applicants’ aggregate gross operating revenues for the preceding 12 months exceeded $2 million, see 49 U.S.C. 14303(g). Applicants submit that the proposed transaction would have no significant impact on the adequacy of transportation because Applicants do not intend to change the operations of the Applicant carriers. Rather, Applicants anticipate that consolidating their operations would enhance service to the public by allowing carriers to engage in vehicle sharing arrangements, centralizing certain management functions, and allowing carriers to take advantage of better financial terms. According to Applicants, the debt restructuring would allow the carriers to increase investment in their companies and would allow them to replace aging vehicles with newer, more energy efficient vehicles on more favorable financial terms. With respect to fixed charges, Applicants state that the debt restructuring would lower interest payments on existing debt and allow them to secure better financial terms for additional financing of equipment. Thus, Applicants expect their overall fixed charge for financing of equipment acquisitions would decrease while their combined financial structure would be strengthened. Applicants state that the transaction would not have an overall negative impact on employees. The proposed transaction would consolidate some administrative and headquarters personnel, but Applicants assert that any contraction of personnel would be offset by additions in higher paying sales and field operations personnel in multiple cities in Texas. Applicants further assert that the acquisition would not have a material adverse effect on competition, because the markets in which Applicant carriers compete are subject to robust competition. Applicants state that the Dallas/Fort Worth area, in which Echo and Roadrunner provide charter service, has over 15 interstate providers of charter and tour services generating over $150 million in annual revenues and operating approximately 670 vehicles. According to Applicants, the combined revenues of Echo and Roadrunner would be less than one-third of the market’s annual revenues and would account for about 100 vehicles in the Dallas/Fort Worth market. Applicants estimate that the combined share of the Applicant carriers in the East Texas E:\FR\FM\09JYN1.SGM 09JYN1 39064 Federal Register / Vol. 79, No. 131 / Wednesday, July 9, 2014 / Notices sroberts on DSK5SPTVN1PROD with NOTICES market would be less than 7.5 percent, and that it would not exceed 14 percent in the Dallas/Fort Worth market. Applicants note that areas served by the Applicant carriers are largely separate and distinct, with a small amount of overlap in the larger markets. Applicants further reiterate the Board’s findings in other cases regarding low barriers to entry into the interstate bus industry. On the basis of the application, the Board finds that the proposed acquisition is consistent with the public interest and should be tentatively approved and authorized. If any opposing comments are timely filed, these findings will be deemed vacated, and, unless a final decision can be made on the record as developed, a procedural schedule will be adopted to reconsider the application. See 49 CFR 1182.6(c). If no opposing comments are filed by the expiration of the comment period, this notice will take effect automatically and will be the final Board action. Board decisions and notices are available on our Web site at WWW.STB.DOT.GOV. This decision will not significantly affect either the quality of the human environment or the conservation of energy resources. It is ordered: 1. The proposed transaction is approved and authorized, subject to the filing of opposing comments. 2. If opposing comments are timely filed, the findings made in this notice will be deemed vacated. 3. This notice will be effective August 26, 2014, unless opposing comments are filed by August 25, 2014. 4. A copy of this notice will be served on: (1) The U.S. Department of Transportation, Federal Motor Carrier Safety Administration, 1200 New Jersey Avenue SE., Washington, DC 20590; (2) the U.S. Department of Justice, Antitrust Division, 10th Street & Pennsylvania Avenue NW., Washington, DC 20530; and (3) the U.S. Department of Transportation, Office of the General Counsel, 1200 New Jersey Avenue SE., Washington, DC 20590. Decided: July 3, 2014. By the Board, Chairman Elliott, Vice Chairman Miller, and Commissioner Begeman. Derrick A. Gardner, Clearance Clerk. [FR Doc. 2014–16056 Filed 7–8–14; 8:45 am] BILLING CODE 4915–01–P VerDate Mar<15>2010 20:08 Jul 08, 2014 Jkt 232001 DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund; Proposed Data 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 and/or continuing 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 Fund (CDFI Fund), Department of the Treasury, is soliciting comments concerning the Annual Certification and Data Collection Report Form. This reporting form will enable the CDFI Fund to recertify Community Development Financial Institutions (CDFIs) on an annual basis and reduce the burden of the re-certification process that currently occurs every three years. In addition to recertifying CDFIs, this report also seeks to collect financial and impact data on an annual basis to provide the CDFI Fund and the industry with more insight into the state and accomplishments of CDFIs. The process for data collection and reporting is expected to take place via electronic submission to the CDFI Fund pending the implementation of an electronic submission process. The Annual Certification and Data Collection Report Form may be obtained from the CDFI Certification page of the CDFI Fund’s Web site at http://www.cdfifund.gov/ cdficert. The term CDFI is defined in regulations that govern the CDFI Program (at 12 CFR 1805). DATES: Written comments should be received on or before September 8, 2014 to be assured of consideration. These comments will be considered before the CDFI Fund submits a request for Office of Management and Budget (OMB) review of the data reporting form described in this notice. ADDRESSES: Direct all comments to Brette Fishman, Management Analyst at the Community Development Financial Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20020, by email to annualreport@cdfi.treas.gov, or by facsimile to (202) 508–0083. Please note this is not a toll free number. FOR FURTHER INFORMATION CONTACT: The Annual Certification and Data Collection Report Form may be obtained SUMMARY: PO 00000 Frm 00215 Fmt 4703 Sfmt 4703 from the CDFI Certification page of the CDFI Fund’s Web site at http:// www.cdfifund.gov/cdficert. Requests for additional information should be directed to Brette Fishman, Management Analyst, at the Community Development Financial Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20020, by email to annualreport@cdfi.treas.gov. SUPPLEMENTARY INFORMATION: Title: CDFI Annual Certification and Data Collection Report Form. OMB Number: 1559–0044. Abstract: A certified CDFI is a specialized financial institution that works in markets that are underserved by traditional financial institutions. CDFIs provide a unique range of financial products and services in economically distressed target markets, such as mortgage financing for lowincome and first-time homebuyers and not-for-profit developers, flexible underwriting and risk capital for needed community facilities, and technical assistance, commercial loans and investments to small start-up or expanding businesses in low-income areas. CDFIs include regulated institutions such as community development banks and credit unions, and non-regulated institutions such as loan and venture capital funds. CDFI certification is a designation conferred by the CDFI Fund and is a requirement for: accessing financial assistance from the CDFI Fund through the CDFI Program, the Native American CDFI Assistance Program, and the Capital Magnet Fund; receiving certain benefits under the Bank Enterprise Award Program; and participation as an Eligible CDFI under the CDFI Bond Guarantee Program. Currently, CDFIs are currently recertified every three years. The CDFI Annual Certification and Data Collection Report Form would replace the extensive process conducted every three years with an annual report. This report will also collect financial and impact data from all CDFIs regardless of whether or not they have received monetary awards in their last fiscal year. This report is a preliminary method to collect standardized data on the full universe of certified CDFIs. Current Actions: New collection. Type of Review: Regular review. Affected Public: Certified CDFIs. Estimated Number Certified CDFI Respondents: 800. Estimated Annual Time Per Certified CDFI Respondent: 3 hours. Estimated Total Annual Burden Hours: 2,400 hours. Requests for Comments: Comments submitted in response to this notice will E:\FR\FM\09JYN1.SGM 09JYN1

Agencies

[Federal Register Volume 79, Number 131 (Wednesday, July 9, 2014)]
[Notices]
[Pages 39063-39064]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-16056]



[[Page 39063]]

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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[Docket No. MCF 21058 \1\]


Texas Bus and Limo Acquisition Corp.--Control--GBJ, Inc.; Echo 
Tours and Charters L.P.; Roadrunner Charters, Inc.; Star Shuttle, Inc.; 
Tri-City Charters of Bossier, Inc.

AGENCY: Surface Transportation Board, DOT.

ACTION: Notice Tentatively Authorizing Finance Transaction.

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

SUMMARY: Texas Bus and Limo Acquisition Corp. (TBL), GBJ, Inc. (GBJ), 
Echo Tours and Charters L.P. (Echo), Roadrunner Charters, Inc. 
(Roadrunner), and Star Shuttle, Inc. (Star) (collectively, Applicants) 
have filed an application under 49 U.S.C. 14303 for Echo to acquire 
control of Tri-City Charters of Bossier, Inc. (Tri-City), and for TBL 
thereafter to acquire control of GBJ, Echo, Roadrunner, and Star. The 
Board is tentatively approving and authorizing the transaction, and, if 
no opposing comments are timely filed, this notice will be the final 
Board action. Persons wishing to oppose the application must follow the 
rules at 49 CFR 1182.5 and 1182.8.
---------------------------------------------------------------------------

    \1\ A request for interim approval under 49 U.S.C. 14303(i) was 
included in Applicants' filing. In a decision served on July 9, 2014 
in related Docket No. MCF 21058 TA, interim approval is granted, 
effective on the service date of that decision.

DATES: Comments must be filed by August 25, 2014. Applicants may file a 
reply by September 8, 2014. If no comments are filed by August 25, 
---------------------------------------------------------------------------
2014, this notice shall be effective on August 26, 2014.

ADDRESSES: Send an original and 10 copies of any comments referring to 
Docket No. MCF 21058 to: Surface Transportation Board, 395 E Street 
SW., Washington, DC 20423-0001. In addition, send one copy of comments 
to Applicant's representative: Richard P. Schweitzer, Richard P. 
Schweitzer, PLLC, Suite 800, 1776 K Street NW., Washington, DC 20006.

FOR FURTHER INFORMATION CONTACT: Scott Zimmerman, (202) 245-0386. 
Federal Information Relay Service (FIRS) for the hearing impaired: 1-
800-877-8339.

SUPPLEMENTARY INFORMATION: TBL is a noncarrier holding company 
organized as a C Corp in Texas. Under the proposed transaction, TBL 
would acquire ownership and control of the stock of four Federally 
regulated motor carriers of passengers: Echo (MC-755212), GBJ (MC-
369531), Roadrunner (MC-467373), and Star (MC-309567). Before TBL's 
acquisition of those four carriers, Echo would acquire 100 percent 
control of Tri-City (MC-370884), another Federally regulated motor 
carrier of passengers. (Echo, GBJ, Roadrunner, Star, and Tri-City are 
collectively called ``Applicant carriers.'') Applicants state that, 
additionally, $75 million in debt among Echo, GBJ, Roadrunner, and Star 
is being consolidated and restructured. If the transaction is approved, 
upon completion: (1) Echo would own 100 percent of the Tri-City stock 
(as well as its equipment and operating authority); (2) TBL would own 
100 percent of the stock of Echo, GBJ, Roadrunner, and Star; and (3) 
Echo, GBJ, Roadrunner, and Star would own 100 percent of the TBL stock 
in equal shares. Applicants state that by consolidating their 
operations under TBL, they would be able to gain efficiencies and to 
consolidate and restructure debt of each carrier.
    Applicants state that TBL, GBJ, Roadrunner, and Star are not 
affiliated with any other motor carriers. GBJ provides interstate 
charter transportation, local city shuttle service, and sedan service 
in the Houston metropolitan area. Roadrunner provides charter services 
in the Dallas/Fort Worth metropolitan area. Star provides charter, 
convention, and tour operations, as well as paratransit and transit 
services, in the San Antonio and Austin markets. Tri-City, which has no 
parent, subsidiaries, or affiliates, provides charter service in 
Louisiana, Texas, and other parts of the southeast United States. Echo, 
which is owned and controlled by a limited general partnership 
organized under an unincorporated entity called ET&C GP, provides 
charter, tour, and local city shuttle transportation in the Dallas, 
Fort Worth, Abilene, Tyler, and Waco markets. Echo owns 100 percent of 
the stock of its subsidiary, Echo Transportation Solutions, LLC, which 
provides premium sedan and limousine service but does not operate 
commercial vehicles and holds no federal or state operating authority; 
Echo also owns and controls 50 percent of the stock of Gotta Go Tours 
by Patti, LLC, a company that provides tour marketing services and also 
holds no Federal or state operating authority.
    Under 49 U.S.C. 14303(b), the Board must approve and authorize a 
transaction that it finds consistent with the public interest, taking 
into consideration at least: (1) The effect of the proposed transaction 
on the adequacy of transportation to the public; (2) the total fixed 
charges that result; and (3) the interest of affected carrier 
employees. Applicants have submitted information, as required by 49 CFR 
1182.2, including the information to demonstrate that the proposed 
transaction is consistent with the public interest under 49 U.S.C. 
14303(b), and a statement that Applicants' aggregate gross operating 
revenues for the preceding 12 months exceeded $2 million, see 49 U.S.C. 
14303(g).
    Applicants submit that the proposed transaction would have no 
significant impact on the adequacy of transportation because Applicants 
do not intend to change the operations of the Applicant carriers. 
Rather, Applicants anticipate that consolidating their operations would 
enhance service to the public by allowing carriers to engage in vehicle 
sharing arrangements, centralizing certain management functions, and 
allowing carriers to take advantage of better financial terms. 
According to Applicants, the debt restructuring would allow the 
carriers to increase investment in their companies and would allow them 
to replace aging vehicles with newer, more energy efficient vehicles on 
more favorable financial terms. With respect to fixed charges, 
Applicants state that the debt restructuring would lower interest 
payments on existing debt and allow them to secure better financial 
terms for additional financing of equipment. Thus, Applicants expect 
their overall fixed charge for financing of equipment acquisitions 
would decrease while their combined financial structure would be 
strengthened. Applicants state that the transaction would not have an 
overall negative impact on employees. The proposed transaction would 
consolidate some administrative and headquarters personnel, but 
Applicants assert that any contraction of personnel would be offset by 
additions in higher paying sales and field operations personnel in 
multiple cities in Texas.
    Applicants further assert that the acquisition would not have a 
material adverse effect on competition, because the markets in which 
Applicant carriers compete are subject to robust competition. 
Applicants state that the Dallas/Fort Worth area, in which Echo and 
Roadrunner provide charter service, has over 15 interstate providers of 
charter and tour services generating over $150 million in annual 
revenues and operating approximately 670 vehicles. According to 
Applicants, the combined revenues of Echo and Roadrunner would be less 
than one-third of the market's annual revenues and would account for 
about 100 vehicles in the Dallas/Fort Worth market. Applicants estimate 
that the combined share of the Applicant carriers in the East Texas

[[Page 39064]]

market would be less than 7.5 percent, and that it would not exceed 14 
percent in the Dallas/Fort Worth market. Applicants note that areas 
served by the Applicant carriers are largely separate and distinct, 
with a small amount of overlap in the larger markets. Applicants 
further reiterate the Board's findings in other cases regarding low 
barriers to entry into the interstate bus industry.
    On the basis of the application, the Board finds that the proposed 
acquisition is consistent with the public interest and should be 
tentatively approved and authorized. If any opposing comments are 
timely filed, these findings will be deemed vacated, and, unless a 
final decision can be made on the record as developed, a procedural 
schedule will be adopted to reconsider the application. See 49 CFR 
1182.6(c). If no opposing comments are filed by the expiration of the 
comment period, this notice will take effect automatically and will be 
the final Board action.
    Board decisions and notices are available on our Web site at 
WWW.STB.DOT.GOV.
    This decision will not significantly affect either the quality of 
the human environment or the conservation of energy resources.
    It is ordered:
    1. The proposed transaction is approved and authorized, subject to 
the filing of opposing comments.
    2. If opposing comments are timely filed, the findings made in this 
notice will be deemed vacated.
    3. This notice will be effective August 26, 2014, unless opposing 
comments are filed by August 25, 2014.
    4. A copy of this notice will be served on: (1) The U.S. Department 
of Transportation, Federal Motor Carrier Safety Administration, 1200 
New Jersey Avenue SE., Washington, DC 20590; (2) the U.S. Department of 
Justice, Antitrust Division, 10th Street & Pennsylvania Avenue NW., 
Washington, DC 20530; and (3) the U.S. Department of Transportation, 
Office of the General Counsel, 1200 New Jersey Avenue SE., Washington, 
DC 20590.

    Decided: July 3, 2014.

    By the Board, Chairman Elliott, Vice Chairman Miller, and 
Commissioner Begeman.
Derrick A. Gardner,
Clearance Clerk.
[FR Doc. 2014-16056 Filed 7-8-14; 8:45 am]
BILLING CODE 4915-01-P