Surface Transportation Board – Federal Register Recent Federal Regulation Documents

On February 27, 2018, Larry Ferguson d/b/a TranSouth Motorcoach, LLC (TranSouth) filed an application to acquire C & H Bus Lines, Inc. (C&H). TranSouth and C&H are each federally registered, passenger motor carriers incorporated and registered in Georgia. 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 Board rules.

The Board approves the second quarter 2018 Rail Cost Adjustment Factor (RCAF) and cost index filed by the Association of American Railroads. The second quarter 2018 RCAF (Unadjusted) is 1.041. The second quarter 2018 RCAF (Adjusted) is 0.440. The second quarter 2018 RCAF-5 is 0.411. In addition, the Board is including recalculated RCAF figures for the second quarter of 2017 through the first quarter of 2018, which AAR submitted pursuant to the Board's January 29, 2018 decision. The recalculated RCAF figures for the second quarter of 2017 through the first quarter of 2018 were recalculated as if AAR had used the geometric average productivity growth of 0.994 for the 2011-2015 five-year period in its original filings. The recalculated figures are included in Table C of the Board's decision.

On February 5, 2018, National Express Transit Corporation (National Express), an intrastate passenger motor carrier, and Brenda Baxter, Richard Wright, and Ralph Wright (collectively, Sellers) (National Express and Sellers collectively, Applicants), jointly filed an application for National Express to acquire from Sellers control of Aristocrat Limousine and Bus, Inc. (Aristocrat), an interstate and intrastate passenger motor carrier. 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.

On January 23, 2018, Academy Bus LLC (Academy), a motor carrier of passengers; Franmar Leasing LLC (Franmar), a non-carrier; and Daniel's Charters & Tours LLC (Daniel's Charters), a motor carrier of passengers (collectively, Applicants) jointly filed an application for Academy and Franmar to acquire certain properties of Daniel's Charters. 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 Board rules.

The Board is instituting a proceeding to determine the railroad industry's cost of capital for 2017. The decision solicits comments on the following issues: The railroads' 2017 current cost of debt capital; the railroads' 2017 current cost of preferred equity capital (if any); the railroads' 2017 cost of common equity capital; and the 2017 capital structure mix of the railroad industry on a market value basis. Comments should focus on the various cost of capital components listed above using the same methodology followed in Railroad Cost of Capital2016, EP 558 (Sub-No. 20) (STB served Aug. 7, 2017).

The Surface Transportation Board is publishing the Acting Chairman's agenda of rulemaking actions pursuant to the Regulatory Flexibility Act (RFA) (Pub. L. 96-354, 94 Stat. 1164) (Sep. 19, 1980). The items listed in the Regulatory Flexibility Agenda for fall 2017 reflect the priorities of the Acting Chairman of the Surface Transportation Board and do not necessarily reflect the priorities of any other individual Board Member. Listed below are the regulatory actions to be developed or reviewed during the next 12 months. Following each rule identified is a brief description of the rule, including its purpose and legal basis.

The Surface Transportation Board (Board) is issuing a final rule to implement the annual inflationary adjustment to its civil monetary penalties, pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.

The Board hereby gives notice of vacancies on RSTAC for two small shipper representatives, one large shipper representative, two small railroad representatives, and two large railroad representatives. The Board seeks suggestions for candidates to fill these vacancies.

Pursuant to section 11 of the Surface Transportation Board Reauthorization Act of 2015 (STB Reauthorization Act), the Surface Transportation Board (Board) is modifying rules pertaining to its rate case procedures.

The Surface Transportation Board (STB) published a document in the Federal Register on October 30, 2017, concerning a request from Thompson Hine LLP, on behalf of itself, Economists, and L.E. Peabody & Associates (WB17-4410/20/17) for permission to use certain unmasked data from the Board's 2006-2016 Carload Waybill Samples. STB is correcting the deadline objections to the request are due.

The Surface Transportation Board (STB or Board) is adopting a final action to update one of the screening criteria used to create the ``composite railroad'' for the Board's annual cost-of-capital determination. This final action requires a company's stock to be listed on either the New York Stock Exchange (NYSE) or the Nasdaq Stock Market (NASDAQ), rather than on either the NYSE or American Stock Exchange (AMEX), as the AMEX no longer exists.