[Federal Register Volume 64, Number 218 (Friday, November 12, 1999)]
[Notices]
[Pages 61687-61688]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-29481]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Docket No. MC-F-20955]
Stagecoach Holdings plc and Coach USA, Inc., et al.--Control--
Golden Isles Coaches of Florida, Inc
AGENCY: Surface Transportation Board.
ACTION: Notice Tentatively Approving Finance Application.
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SUMMARY: Stagecoach Holdings plc (Stagecoach) and its subsidiary, Coach
USA, Inc. (Coach), noncarriers, and various subsidiaries of each
(collectively, applicants), filed an application under 49 U.S.C. 14303
to acquire control of Golden Isles Coaches of Florida, Inc. (Golden
Isles), a motor passenger carrier. Persons wishing to oppose the
application must follow the rules under 49 CFR 1182.5 and 1182.8. The
Board has tentatively approved the transaction, and, if no opposing
comments are timely filed, this notice will be the final Board action.
DATES: Comments must be filed by December 27, 1999. Applicants may file
a reply by January 11, 2000. If no comments are filed by December 27,
1999, this notice is effective on that date.
ADDRESSES: Send an original and 10 copies of any comments referring to
STB Docket No. MC-F-20955 to: Surface Transportation Board, Office of
the Secretary, Case Control Unit, 1925 K Street, NW, Washington, DC
20423-0001. In addition, send one copy of comments to applicants'
representative: Betty Jo Christian, Steptoe & Johnson LLP, 1330
Connecticut Avenue, NW, Washington, DC 20036.
FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600. [TDD for
the hearing impaired: (202) 565-1695.].
SUPPLEMENTARY INFORMATION: Stagecoach is a public limited company
organized under the laws of Scotland. With operations in eight
countries, Stagecoach is one of the world's largest providers of
passenger transportation services. It had annual revenues for the
fiscal year ending April 30, 1999, of $2.475 billion. Coach is a
Delaware corporation that currently controls 82 motor passenger
carriers.
Stagecoach and its subsidiaries currently control
Coach,1 its noncarrier regional management subsidiaries, and
the motor passenger carriers jointly controlled by Coach and the
management subsidiaries.2 In previous Board decisions, Coach
management subsidiaries, including Coach USA Southeast, Inc.
(Southeast), have obtained authority to control motor passenger
carriers jointly with Coach,3 one of which is ASTI, Inc.
(ASTI),4 the corporate parent and owner of all of the stock
of Golden Isles.
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\1\ Stagecoach controls Coach through various subsidiaries,
namely, SUS 1 Limited, SUS 2 Limited, Stagecoach General
Partnership, and SCH US Holdings Corp.
\2\ See Stagecoach Holdings plc--Control--Coach USA, Inc., et
al., STB Docket No. MC-F-20948 (STB served July 22, 1999).
\3\ See Coach USA, Inc. and Coach USA North Central, Inc.--
Control--Nine Motor Carriers of Passengers, STB Docket No. MC-F-
20931, et al. (STB served July 14, 1999).
\4\ ASTI was formerly known as American Sightseeing Tours, Inc.
It now operates, pursuant to a name change approved by the Federal
Highway Administration in May 1999, as ASTI, Inc., d/b/a Coach USA,
Inc.
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Applicants state that, in 1996, when Coach acquired Golden Isles as
part of the transaction in which it acquired ASTI, Golden Isles
surrendered its federally issued motor carrier operating authority and
ceased operating as a carrier. Thus, Coach did not request Board
authority to control Golden Isles at that time, as it was not required.
According to applicants, Golden Isles has recently obtained new federal
operating authority authorizing operations as a motor passenger carrier
to conduct charter and special operations.5 Applicants,
therefore, seek Board authority to control Golden Isles.6
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\5\ Golden Isles is a Florida corporation. It holds federally
issued operating authority in Docket No. MC-224982, which authorizes
it to provide charter and special operations between points in the
United States.
\6\ Applicants state that the stock of Golden Isles has been
placed in an independent voting trust pending disposition of this
proceeding. They anticipate that ASTI will reacquire Golden Isles'
stock upon approval of this application.
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Applicants have submitted information, as required by 49 CFR
1182.2(a)(7), to demonstrate that the proposed acquisition of control
is consistent with the public interest. Applicants state that the
proposed transaction will not reduce competitive options, adversely
impact fixed charges, or adversely impact the interests of the
employees of Golden Isles. They assert that granting the application
will allow Golden Isles to continue to take advantage of economies of
scale and substantial benefits offered by applicants, including
interest cost savings and reduced operating costs. In addition,
applicants have submitted all of the other statements and
certifications required by 49 CFR 1182.2. Additional information,
including a copy of the application, may be obtained from the
applicants' representative.
Under 49 U.S.C. 14303(b), we must approve and authorize a
transaction we find consistent with the public interest, taking into
consideration at least: (1) the effect of the transaction on the
adequacy of transportation to the public; (2) the total fixed charges
that result; and (3) the interest of affected carrier employees.
On the basis of the application, we find that the proposed
acquisition of control is consistent with the public interest and
should be authorized. If any opposing comments are timely filed, this
finding 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
decision will take effect automatically and will be the final Board
action.
Board decisions and notices are available on our website at
``WWW.STB.DOT.GOV.''
[[Page 61688]]
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 acquisition of control is approved and authorized,
subject to the filing of opposing comments.
2. If timely opposing comments are filed, the findings made in this
decision will be deemed as having been vacated.
3. This decision will be effective on December 27, 1999, unless
timely opposing comments are filed.
4. A copy of this notice will be served on: (1) the U.S. Department
of Transportation, Office of Motor Carrier Safety--HMCE-20, 400
Virginia Avenue, SW, Suite 600, Washington, DC 20024; (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, 400 7th Street, SW,
Washington, DC 20590.
Decided: November 4, 1999.
By the Board, Chairman Morgan, Vice Chairman Clyburn, and
Commissioner Burkes.
Vernon A. Williams,
Secretary.
[FR Doc. 99-29481 Filed 11-10-99; 8:45 am]
BILLING CODE 4915-00-P
