Surface Transportation Board 2006 – Federal Register Recent Federal Regulation Documents
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Public Participation in Class Exemption Proceedings
The Surface Transportation Board is modifying the timeframes in its rules for certain class exemptions to provide greater public notice in advance of the possible consummation of an exempt transaction. The proposed changes will ensure that the public is given notice of a proposed transaction before the exemption becomes effective; and that the Board may process such notices of exemption, and related petitions for stay, if any, in an orderly and timely fashion.
Railroad Revenue Adequacy-2005 Determination
On October 23, 2006, the Board served a decision announcing the 2005 revenue adequacy determinations for the Nation's Class I railroads. The decision found one carrier, Norfolk Southern Railway Company, to be revenue adequate for the year 2005.
Providence and Worcester Railroad Company-Pooling of Car Service Regarding Multilevel Cars
Providence and Worcester Railroad Company (P&W) has filed an application for its participation in an existing railroad agreement for the pooling of services related to multilevel cars used to transport motor vehicles and boxcars used to transport automobile parts. P&W is a common carrier engaged in the transportation of property by railroad in Rhode Island, Massachusetts, Connecticut, and New York. Its participation in the pooling agreement will be with respect to the movement of multilevel railcars between an automobile staging facility located at Davisville, RI, and its connections with various railroads.
Rail Transportation of Grain
The Surface Transportation Board will hold a public hearing beginning at 10 a.m. on Thursday, November 2, 2006, at its offices in Washington, DC. The purpose of the public hearing will be to examine issues related to the transportation of grain by rail. Persons wishing to speak at the hearing should notify the Board in writing.
CSX Transportation, Inc., Norfolk Southern Railway Company, and Consolidated Rail Corporation-Joint Use and Operation Exemption
Under 49 U.S.C. 10502, the Board is granting a petition for exemption from the prior approval requirements of 49 U.S.C. 11323-25 for petitioners to provide for the joint use and joint rail freight operations over 7.69 miles of abandoned rail line of the former Staten Island Railway Corporation \1\ in New York and New Jersey, lying generally between the Conrail Chemical Coast Line and points on Staten Island, NY, subject to appropriate employee protective conditions.\2\ The line consists of two segments as follows: (a) The North Shore Line between the end of track at milepost 4.6 at Union Avenue east of Arlington Yard, Richmond County, NY, and milepost 7.4, via the Chemical Coast Connector, at the proposed point of switch at the connection between the Chemical Coast Connector and Conrail's Chemical Coast Line in Union County, NJ, a distance of 2.8 miles; and (b) the Travis Branch between milepost 0.00 Arlington Yard Station and milepost 4.41 in Richmond County, a distance of 4.41 miles. Included within the North Shore Line segment are all tracks in Arlington Yard together with lead tracks on both the east and west ends of the yard, the so-called Wye Connector, that provides a direct connection to the Travis Branch from the North Shore Line and a track designated as the Travis Lead that provides a connection to and from the Travis Branch to the east end of Arlington Yard.\3\ Petitioners have asked for expedited consideration of the petition.
The No FEAR Act Notice
The Surface Transportation Board (Board) gives notice of the ``Notification and Federal Employee Antidiscrimination Act of 2002,'' the No FEAR Act, to former and current STB employees and to applicants for STB employment.
Methodology To Be Employed in Determining the Railroad Industry's Cost of Capital
The Board is seeking comments on the appropriate methodology to be employed in determining the railroad industry's estimated cost of capital to be used in future annual cost-of-capital determinations. We are also soliciting comments on how evidence should be submitted and analyzed in future cost-of-capital proceedings.
Quarterly Rail Cost Adjustment Factor
The Board has approved the fourth quarter 2006 rail cost adjustment factor (RCAF) and cost index filed by the Association of American Railroads. The fourth quarter 2006 RCAF (Unadjusted) is 1.250. The fourth quarter 2006 RCAF (Adjusted) is 0.591. The fourth quarter 2006 RCAF-5 is 0.562.
Railroad Cost of Capital-2005
On August 28, 2006, the Board served a decision to update its computation of the railroad industry's cost of capital for 2005. The composite after-tax cost-of-capital rate for 2005 is found to be 12.2%, based on a current cost of debt of 5.36%; a cost of common equity capital of 15.18%; and a capital structure mix comprised of 30.41% debt and 69.59% common equity. The cost-of-capital finding made in this proceeding will be used in a variety of Board proceedings.
DesertXpress Enterprises, LLC-Petition for Declaratory Order
In response to a petition filed by DesertXpress Enterprises, LLC (DesertXpress), the Board is instituting a declaratory order proceeding under 5 U.S.C. 554(e) and 49 U.S.C. 721 to determine whether the Board's jurisdiction preempts state and local environmental review, land use restrictions, and other discretionary permitting requirements that might otherwise apply to DesertXpress' proposed construction of an interstate high speed passenger rail system between Victorville, CA, and Las Vegas, NV. No responses to the petition have been filed. The Board seeks public comment on this issue.
CSX Transportation, Inc., Norfolk Southern Railway Company, and Consolidated Rail Corporation-Joint Use and Operation Exemption
On August 8, 2006, CSX Transportation, Inc. (CSXT), Norfolk Southern Railway Company (NSR), and Consolidated Rail Corporation (Conrail) (collectively, petitioners), jointly filed a petition for exemption under 49 U.S.C. 10502 from the prior approval requirements of 49 U.S.C. 11323-25 for petitioners to provide for the joint use and joint rail freight operations over 7.69 miles of abandoned rail line of the former Staten Island Railway Corporation \1\ in New York and New Jersey lying generally between the Conrail Chemical Coast Line and points on Staten Island, NY. The line consists of two segments as follows: (a) The North Shore Line between the end of track at milepost 4.6 at Union Avenue east of Arlington Yard, Richmond County, NY, and milepost 7.4, via the Chemical Coast Connector, at the proposed point of switch at the connection between the Chemical Coast Connector and Conrail's Chemical Coast Line in Union County, NJ, a distance of 2.8 miles, and (b) the Travis Branch between milepost 0.00 Arlington Yard Station and milepost 4.41 in Richmond County, a distance of 4.41 miles. Included within the North Shore Line segment are all tracks in Arlington Yard together with lead tracks on both the east and west ends of the yard, the so-called Wye Connector, that provides a direct connection to the Travis Branch from the North Shore Line and a track designated as the Travis Lead that provides a connection to and from the Travis Branch to the east end of Arlington Yard.\2\
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