[Federal Register Volume 62, Number 98 (Wednesday, May 21, 1997)]
[Notices]
[Pages 27834-27835]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-13315]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB No. MC-F-20907]
Greyhound Lines, Inc.--Control--Carolina Coach Company, Inc.,
Kannapolis Transit Company, and Seashore Trailways
AGENCY: Surface Transportation Board.
ACTION: Notice tentatively approving finance transaction.
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SUMMARY: Greyhound Lines, Inc. (Greyhound or applicant), has filed an
application under 49 U.S.C. 14303 to acquire control of Carolina Coach
Company, Inc., d/b/a Carolina Trailways (Carolina), Kannapolis Transit
Company (Kannapolis), and Seashore Trailways (Seashore). Persons
wishing to oppose the application must follow the rules under 49 CFR
part 1182, subpart B. 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 are due by July 7, 1997. Applicants may reply by July
21, 1997. If no comments are received by July 7, 1997, this notice is
effective on that date.
ADDRESSES: Send an original and 10 copies of any comments referring to
STB Docket No. MC-F-20907 to: Surface Transportation Board, Office of
the Secretary, Case Control Unit, 1925 K Street, N.W., Washington, DC
20423-0001. In addition, send one copy of any comments to applicants'
representative: Fritz R. Kahn, Suite 750 West, 1100 New York Avenue,
N.W., Washington, DC 20005-3934.
FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600. [TDD for
the hearing impaired: (202) 565-1695.]
SUPPLEMENTARY INFORMATION: Greyhound is a motor passenger carrier
operating nationwide, scheduled, regular-route service. Carolina is
also a motor passenger carrier, operating scheduled, regular-route
service in Delaware, Maryland, North Carolina, Pennsylvania, Virginia,
and the District of Columbia. Kannapolis and Seashore are non-operating
motor passenger carriers, holding authority to provide regular-route
operations in North Carolina and Virginia.
Under the proposed transaction, Carolina, Kannapolis, and Seashore
(which currently are wholly owned subsidiaries of Carolina Associates,
Inc.) would remain separate corporations but become wholly owned
subsidiaries of Greyhound. Greyhound also controls Texas, New Mexico &
Oklahoma
[[Page 27835]]
Coaches, Inc., Continental Panhandle Lines, Inc., Vermont Transit Co.,
Inc., Los Rapidos, Inc., and Grupo Centro, Inc. (Grupo), each of which
is a regional motor passenger carrier.
Applicant asserts that the aggregate gross operating revenues of
Greyhound and its affiliates exceeded $2 million during the twelve
months preceding the filing of this application (the minimum gross
operating revenues required to trigger section 14303). Applicant also
states that the proposed transaction will have no competitive effects,
and that the operations of the carriers involved will remain unchanged;
that the total fixed charges associated with the proposed transaction
are well within Greyhound's financial means; and that there will be no
change in the status of any employees.
Applicant certifies that the pertinent carrier parties have
satisfactory safety fitness ratings (including Greyhound's affiliates,
except Grupo, a newly organized motor carrier); that Greyhound and
Carolina maintain sufficient liability insurance and are neither
domiciled in Mexico nor owned or controlled by persons of that country;
and that approval of the transaction will not significantly affect
either the quality of the human environment or the conservation of
energy resources. Additional information may be obtained from
applicant's 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 as having been vacated and a procedural schedule
will be adopted to reconsider the application. 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.
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 July 7, 1997, unless timely
opposing comments are filed.
4. A copy of this notice will be served on the Department of
Justice, Antitrust Division, 10th Street & Pennsylvania Avenue, N.W.,
Washington. DC 20530.
Decided: May 14, 1997.
By the Board, Chairman Morgan and Vice Chairman Owen.
Vernon A. Williams,
Secretary.
[FR Doc. 97-13315 Filed 5-20-97; 8:45 am]
BILLING CODE 4910-00-P
