Central Oregon & Pacific Railroad, Inc. (CORP) plans to lease and operate a section of railroad line from the Union Pacific Railroad Company, totaling about 27.58 miles in Oregon. This transaction is set to occur after February 8, 2025, following the required notice period and certification. CORP's expected annual revenues from this operation will exceed $5 million, necessitating advance notices to affected employees and labor unions. The agreement includes an interchange commitment, and interested parties can file petitions related to the exemption process.
Simple Explanation
Central Oregon & Pacific Railroad is going to borrow and run a train track from another train company, which is about 27 miles long, and starting next year, they'll make lots of money from it. There's a promise that deals with how trains can switch tracks, but it's not clear what that means, and people working for the train company might be worried about what happens to them.