Marquette Rail, LLC (MQT), a Class III railroad, has submitted a notice of exemption to the Surface Transportation Board to continue leasing and operating several rail lines from CSX Transportation, Inc. in Michigan, totaling approximately 129.03 miles. MQT has been operating these lines since 2005 and plans to extend the lease, including an interchange commitment. The company assures that its projected annual revenues due to this transaction will not make it exceed the Class III status, though it is seeking a waiver for the 60-day labor notice requirement. If the notice contains misleading information, the exemption is automatically invalid.
Simple Explanation
Marquette Rail is a small train company that wants to keep renting and using some train tracks in Michigan from another big train company, just like they've been doing for many years. They want to make sure they keep using the tracks without any problems, even though they might make more money, and they are asking for permission to skip telling their workers 60 days ahead if changes happen.