STB drops TTX equipment-pool monitoring, might drop CN/IC merger oversight (11/8/2001)
11/8/2023Yesterday, the Surface Transportation Board determined it no longer needs to monitor TTX Co.'s rail equipment pooling authority.
In a 1994 decision approving a 10-year extension to TTX's equipment pool authority, Interstate Commerce Commission ruled the agency would monitor TTX's operations and report any problems at the end of the extension period's third and seventh years.
ICC sought public comments on TTX's activities to carry out its monitoring responsibility, but received no comments at the end of the extension's third year.
STB sought public comments relative to the extension's seventh year, but again no comments were received. Therefore, the board decided no further monitoring is warranted and discontinued the monitoring requirement for the remainder of TTX's 10-year extension.
Meanwhile, the board also announced plans to seek public comment on whether STB's general oversight of the Canadian National Railway Co./Illinois Central Railroad merger should continue.
The board has found no competitive or other problems with the merger per STB's second annual general-oversight round.
Oversight during the transaction's first and second years also revealed no problems; the only public comment filed during the second year was positive.
Source: Progressive Railroading Daily News