[Federal Register Volume 59, Number 29 (Friday, February 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-3289]
[[Page Unknown]]
[Federal Register: February 11, 1994]
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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32414 (Sub 2)]
Exemption; Rail Management and Consulting Corporation, Et Al.
Corporate Family and Control Exemptions; Lakeside Transportation,
L.L.C.
Rail Management and Consulting Corporation (RMCC), Green Bay
Packaging, Inc. (GBP), K. Earl Durden (Durden), Panama City Beach
Office Park, Ltd. (Office Park), and Rail Partners, L.P. (Partners),
(collectively owners), all noncarriers, have filed a verified notice
under 49 CFR 1180.2(d) to exempt (1) the merger of Lakeside
Transportation Co. (LTC), a class III rail carrier, into Lakeside
Transportation, L.L.C. (Lakeside), a limited liability company, and (2)
to acquire joint ownership of Lakeside. The parties expected to
consummate the transactions on or after January 20, 1994.
Durden and GBP each own 50% of RMCC. RMCC is a general partner
holding a 1% interest in Partners, and Durden and GPB are limited
partners holding 49.5% interests. Partners and RMCC control Office
Park. In addition, Durden, GBP, Partners, and RMCC jointly control 11
other class III rail carriers.
LTC, owned by Durden, is leasing and operating about 15.3 miles of
rail line owned by Norfolk & Western Railway Company under an exemption
in Lakeside Transportation Co.--Lease and Operation Exemption--Lines of
Norfolk and Western Railway Company, Finance Docket No. 32414 (ICC
served Dec. 17, 1993).
The merger of LTC into Lakeside is a transaction that qualifies for
the corporate family exemption at 49 CFR 1180.2(d)(3). It will not
result in adverse changes in service levels, significant operational
changes, or a change in competitive balance with carriers outside the
corporate family.
The joint acquisition of control transaction is exempt from the
prior approval requirements of 49 U.S.C. 11343 under 49 CFR
1180.2(d)(2) because: (1) Lakeside does not connect with any other
railroads in the corporate family; (2) the acquisition of control is
not a part of a series of anticipated transactions that would connect
Lakeside with any other railroad in its corporate family; and (3) the
transaction does not involve a class I carrier.
As a condition to use of this exemption, any employees affected by
the transaction will be protected by the conditions set forth in New
York Dock Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
If the verified notice contains false or misleading information,
the exemption is void ab initio. Petitions to revoke the exemption
under 49 U.S.C. 10505(d) may be filed at any time. The filing of a
petition to revoke will not automatically stay the exemption's
effectiveness. Pleadings must be filed with the Commission and served
on: Patricia E. Dietrich, Slover & Loftus, 1224 Seventeenth Street,
NW., Washington, DC 20036.
Decided: February 7, 1994.
By the Commission, David M. Konschnik, Director, Office of
Proceedings.
Sidney L. Strickland, Jr.,
Secretary.
[FR Doc. 94-3289 Filed 2-10-94; 8:45 am]
BILLING CODE 7035-01-P
