[Federal Register Volume 59, Number 163 (Wednesday, August 24, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20759]
[[Page Unknown]]
[Federal Register: August 24, 1994]
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INTERSTATE COMMERCE COMMISSION
[Ex Parte No. 521]
Railroad Revenue Adequacy--1993 Determination
AGENCY: Interstate Commerce Commission.
ACTION: Notice of decision.
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SUMMARY: On August 23, 1994, the Commission served a decision
announcing the 1993 revenue adequacy determinations for the Nation's
class I railroads. Two carriers (Illinois Central Railroad Company [IC]
and Kansas City Southern Railway Company [KCS]) are found to be revenue
adequate. The remaining class I carriers are found to be revenue
inadequate.
EFFECTIVE DATE: This decision shall be effective August 23, 1994.
FOR FURTHER INFORMATION CONTACT: Leonard J. Blistein, (202) 927-6171.
[TDD for hearing impaired: (202) 927-5721.]
SUPPLEMENTARY INFORMATION: This annual determination of railroad
revenue adequacy is made in accordance with the standards developed in
Standards for Railroad Revenue Adequacy, 364 I.C.C. 803 (1981), as
modified in Standards for Railroad Revenue Adequacy, 3 I.C.C.2d 261
(1986), and Supplemental Reporting of Consolidated Information for
Revenue Adequacy Purposes, 5 I.C.C.2d 65 (1988). It also incorporates
modifications made in Railroad Revenue Adequacy--1988 Determination, 6
I.C.C.2d 933 (1990). This decision applies the rate of return standard
to data for the year 1993.
A railroad will be considered revenue adequate under 49 U.S.C.
10704(a) if it achieves a rate of return on net investment equal to at
least the current cost of capital for the railroad industry for 1993,
determined to be 11.4 percent in Railroad Cost of Capital--1993, 10
I.C.C.2d 93 (1994). In this proceeding, the Commission applied the
revenue adequacy standards to each class I railroad, and it found that
only IC and KCS were revenue adequate.
Additional information is contained in the Commission's formal
decision. To purchase a copy of the full decision, write to, call, or
pick up in person from: Dynamic Concepts, Inc., Room 2229, Interstate
Commerce Commission Building, Washington, DC 20423. Telephone: (202)
289-4357/4359. [Assistance for the hearing impaired is available
through TDD services (202) 927-5721.]
Environmental and Energy Considerations
We conclude that this action will not significantly affect either
the quality of the human environment or the conservation of energy
resources.
Regulatory Flexibility Analysis
Pursuant to 5 U.S.C. 603(b), we conclude that our action in this
proceeding will not have a significant economic impact on a substantial
number of small entities. The purpose and effect of the action is
merely to update the annual railroad industry revenue adequacy finding
by the Commission. No new reporting or other regulatory requirements
are imposed, directly or indirectly, on small entities.
Decided: August 10, 1994.
By the Commission, Chairman McDonald, Vice Chairman Phillips,
Commissioners Simmons and Morgan.
Vernon A. Williams,
Acting Secretary.
[FR Doc. 94-20759 Filed 8-3-94; 8:45 am]
BILLING CODE 7035-01-P
