San Joaquin Valley Railroad Co. (SJVR) has filed a notice to continue leasing and operating 101.5 miles of rail lines from Union Pacific Railroad Company (UP). This new lease replaces a previous one from 1994 and includes an interchange commitment. SJVR ensures its revenue won’t exceed the limit for a Class III carrier but admits it currently surpasses $5 million, for which it seeks a waiver on the 60-day labor notice period. This request will be reviewed separately by the Surface Transportation Board, which will set the exemption's effective date.
Simple Explanation
San Joaquin Valley Railroad is asking to keep using a train track from another company and promises to play fair with other train lines, but they make more money than some small train companies usually do. They want permission to skip telling the workers ahead of time, which is normally required, and people are looking carefully at this and also how this affects other train businesses.