Surface Transportation Board.
Notice of decision.
On August 12, 2004, the Board served a decision announcing the 2003 revenue adequacy determinations for the Nation's Class I railroads. No carrier is found to be revenue adequate.
This decision is effective August 12, 2004.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Leonard J. Blistein, (202) 565-1529. (Federal Information Relay Service (FIRS) for the hearing impaired: 1 (800) 877-8339.)End Further Info End Preamble Start Supplemental Information
The Board is required to make an annual determination of railroad revenue adequacy. A railroad is 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 2003, determined to be 9.4% in Railroad Cost of Capital—2003, STB Ex Parte No. 558 (Sub-No. 7) (STB served June 28, 2004). This revenue Start Printed Page 51145adequacy standard was applied to each Class I railroad, and no carrier was found to be revenue adequate for 2003.
The Board's decision is posted on the Board's Web site, http://www.stb.dot.gov. In addition, copies of the decision may be purchased from ASAP Document Solutions by calling 301-577-2600 or by e-mailing firstname.lastname@example.org.
Environmental and Energy Considerations
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. No new reporting or other regulatory requirements are imposed, directly or indirectly, on small entities.Start Signature
Decided: August 11, 2004.
By the Board, Chairman Nober, Vice Chairman Mulvey, and Commissioner Buttrey.
Vernon A. Williams,
[FR Doc. 04-18776 Filed 8-16-04; 8:45 am]
BILLING CODE 4915-01-P