80 FR 77383 - New Postal Product
POSTAL REGULATORY COMMISSION Federal Register Volume 80, Issue 239 (December 14, 2015)
Federal Register Volume 80, Issue 239 (December 14, 2015)
| Page Range | 77383-77384 | |
| FR Document | 2015-31373 |
[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)] [Notices] [Pages 77383-77384] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-31373] ======================================================================= ----------------------------------------------------------------------- POSTAL REGULATORY COMMISSION [Docket Nos. MC2016-28 and CP2016-34; Order No. 2858] New Postal Product AGENCY: Postal Regulatory Commission. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Commission is noticing a recent Postal Service filing concerning the addition of Parcel Select Contract 11 negotiated service agreement to the competitive product list. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: December 16, 2015. ADDRESSES: Submit comments electronically via the Commission's Filing Online system at http://www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202-789-6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Notice of Commission Action III. Ordering Paragraphs I. Introduction In accordance with 39 U.S.C. 3642 and 39 CFR 3020.30 et seq., the Postal Service filed a formal request and associated supporting information to add Parcel Select Contract 11 to the competitive product list.\1\ --------------------------------------------------------------------------- \1\ Request of the United States Postal Service to Add Parcel Select Contract 11 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors' Decision, Contract, and Supporting Data, December 8, 2015 (Request). --------------------------------------------------------------------------- The Postal Service contemporaneously filed a redacted contract related to the proposed new product under 39 U.S.C. 3632(b)(3) and 39 CFR 3015.5. Request, Attachment B. To support its Request, the Postal Service filed a copy of the contract, a copy of the Governors' Decision authorizing the product, proposed changes to the Mail Classification Schedule, a Statement of Supporting Justification, a certification of compliance with 39 U.S.C. 3633(a), and an application for non-public treatment of certain materials. It also filed supporting financial workpapers. II. Notice of Commission Action The Commission establishes Docket Nos. MC2016-28 and CP2016-34 to consider the Request pertaining to the proposed Parcel Select Contract 11 product and the related contract, respectively. The Commission invites comments on whether the Postal Service's filings in [[Page 77384]] the captioned dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642, 39 CFR part 3015, and 39 CFR part 3020, subpart B. Comments are due no later than December 16, 2015. The public portions of these filings can be accessed via the Commission's Web site (http://www.prc.gov). The Commission appoints Derrick D. Dennis to serve as Public Representative in these dockets. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket Nos. MC2016-28 and CP2016-34 to consider the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Derrick D. Dennis is appointed to serve as an officer of the Commission to represent the interests of the general public in these proceedings (Public Representative). 3. Comments are due no later than December 16, 2015. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Stacy L. Ruble, Secretary. [FR Doc. 2015-31373 Filed 12-11-15; 8:45 am] BILLING CODE 7710-FW-P
![Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices 77383
The Decision to an ‘‘aberrantly poor year’’ in the ACTION: Notice.
construction industry in Massachusetts in
On June 23, 2015, PBGC published a 2011. The Buyer states that JCC’s average SUMMARY: The Commission is noticing a
notice of the pendency of a request by annual net income for the years between recent Postal Service filing concerning
Harrington Air Systems, LLC (‘‘HAS’’) 2011–2014 was approximately $1 million the addition of Parcel Select Contract 11
and its sister company J.C. Cannistraro, more than what was required to meet the net negotiated service agreement to the
LLC (‘‘JCC’’, and collectively with HAS, income test under 29 CFR 4204.13(a)(1), and
competitive product list. This notice
the ‘‘Buyer’’) for an exemption from the that its net income for the 3 years between
2012–2014 was approximately $1.5 million informs the public of the filing, invites
bond/escrow requirement of section public comment, and takes other
more than what was required.
4204(a)(1)(B) with respect to the 9. The Buyer further asserts that, in administrative steps.
purchase of Harrington Brothers denying the Buyer’s request for a waiver, the DATES: Comments are due: December
Corporation (‘‘HBC’’ or the ‘‘Seller’’). Fund looked only at the average net income 16, 2015.
According to the request, the Seller was of JCC. It contends that aggregating the net
ADDRESSES: Submit comments
obligated to contribute to the Sheet incomes of JCC and HAS, two businesses
under common control under 26 CFR electronically via the Commission’s
Metal Workers National Pension Fund
1.414(c)–2, shows that there ‘‘can be no Filing Online system at http://
(the ‘‘Fund’’), a multiemployer defined www.prc.gov. Those who cannot submit
serious argument that a waiver will create
benefit pension plan. According to the risk for the Fund, let alone substantial risk.’’ comments electronically should contact
Buyer’s representations, the Buyer 10. The Buyer’s request additionally states the person identified in the FOR FURTHER
acquired under an asset sale agreement that a variance of the bond/escrow INFORMATION CONTACT section by
effective February 24, 2014, most of the requirement in this instance furthers the telephone for advice on filing
business assets of the Seller. The parties purposes of Title IV of ERISA because
alternatives.
structured the transaction to comply Congress, in enacting Title IV, sought to
with section 4204 of ERISA. HAS is an minimize intrusions into normal business FOR FURTHER INFORMATION CONTACT:
operations while protecting plans. The Buyer David A. Trissell, General Counsel, at
entity set up by JCC to effectuate the asserts that HBC had previously been a
purchase of HBC’s assets. In the request, 202–789–6820.
‘‘struggling enterprise’’ and that the
the Buyer represents that HAS and JCC SUPPLEMENTARY INFORMATION:
transaction has ‘‘resulted in a more stable
are businesses under common control and financially secure contributing employer Table of Contents
pursuant to 26 CFR § 1.414(c)–2 and to the Fund.’’
therefore treated as one employer under I. Introduction
Based on the facts of this case and the
II. Notice of Commission Action
ERISA. Additionally, the Buyer representations and statements made in III. Ordering Paragraphs
represents, among other things, that: connection with the request for an
1. Under the terms of the asset purchase exemption, including JCC’s updated I. Introduction
agreement, the Buyer paid the Seller 2014 financial information, PBGC has In accordance with 39 U.S.C. 3642
approximately $5.1 million in the form of an determined that an exemption from the and 39 CFR 3020.30 et seq., the Postal
unsecured promissory note that may be bond/escrow requirement of section Service filed a formal request and
adjusted post-closing based on the 4204(a)(1)(B) is warranted, in that it associated supporting information to
performance of certain construction contracts would more effectively carry out the
in place at the time of the transaction.
add Parcel Select Contract 11 to the
purposes of Title IV of ERISA and competitive product list.1
2. The Buyer is obligated to contribute to
the Fund for the purchased operations for
would not significantly increase the risk The Postal Service
substantially the same contribution base of financial loss to the Plan. Therefore, contemporaneously filed a redacted
units for which the Seller had an obligation the PBGC hereby grants the request for contract related to the proposed new
to contribute. an exemption from the bond/escrow product under 39 U.S.C. 3632(b)(3) and
3. The Seller has agreed to be secondarily requirement. 39 CFR 3015.5. Request, Attachment B.
liable for any withdrawal liability it would The granting of a variance or an To support its Request, the Postal
have had with regard to the sold operations exemption from the bond/escrow Service filed a copy of the contract, a
(if not for § 4204) should the Buyer withdraw requirement of section 4204(a)(1)(B) copy of the Governors’ Decision
from the Fund within the five plan years does not constitute a finding by the
following the sale and fail to pay withdrawal
authorizing the product, proposed
PBGC that the transaction satisfies the changes to the Mail Classification
liability.
4. The estimated amount of unfunded other requirements of section 4204(a)(1). Schedule, a Statement of Supporting
vested benefits allocable to the Seller with The determination of whether the Justification, a certification of
respect to the operations sold is about $23.4 transaction satisfies such other compliance with 39 U.S.C. 3633(a), and
million. requirements is a determination to be an application for non-public treatment
5. The amount of the bond/escrow required made by the Plan sponsor. of certain materials. It also filed
under § 4204(a)(1)(B) is $1.68 million. supporting financial workpapers.
Issued in Washington, DC, on this 8th day
6. After the close of the transaction, the
of December 2015.
Buyer requested that the trustees of the Fund II. Notice of Commission Action
waive the bond/escrow requirements of W. Thomas Reeder,
ERISA § 4204. The Fund denied the request Director, Pension Benefit Guaranty The Commission establishes Docket
on the grounds that the Buyer did not satisfy Corporation. Nos. MC2016–28 and CP2016–34 to
the net income or net tangible assets tests [FR Doc. 2015–31357 Filed 12–11–15; 8:45 am] consider the Request pertaining to the
under PBGC’s regulations for an exemption BILLING CODE 7709–02–P
proposed Parcel Select Contract 11
from the bond/escrow requirement of product and the related contract,
§ 4204(a)(1)(B). respectively.
mstockstill on DSK4VPTVN1PROD with NOTICES
7. To satisfy the net income test under 29 The Commission invites comments on
CFR 4204.13(a)(1), the Fund determined that POSTAL REGULATORY COMMISSION
whether the Postal Service’s filings in
the average annual net income required for [Docket Nos. MC2016–28 and CP2016–34;
the three-year period prior to the transaction Order No. 2858] 1 Request of the United States Postal Service to
needed to be approximately $440,000 greater Add Parcel Select Contract 11 to Competitive
than the amount reported. New Postal Product Product List and Notice of Filing (Under Seal) of
8. The Buyer asserts that the three-year Unredacted Governors’ Decision, Contract, and
average net income of JCC was lowered due AGENCY: Postal Regulatory Commission. Supporting Data, December 8, 2015 (Request).
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![77384 Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
the captioned dockets are consistent Table of Contents 4. The Secretary shall arrange for
with the policies of 39 U.S.C. 3632, I. Introduction publication of this order in the Federal
3633, or 3642, 39 CFR part 3015, and 39 II. Notice of Commission Action Register.
CFR part 3020, subpart B. Comments are III. Ordering Paragraphs By the Commission.
due no later than December 16, 2015. Stacy L. Ruble,
The public portions of these filings can I. Introduction
Secretary.
be accessed via the Commission’s Web In accordance with 39 U.S.C. 3642
[FR Doc. 2015–31374 Filed 12–11–15; 8:45 am]
site (http://www.prc.gov). and 39 CFR 3020.30 et seq., the Postal
The Commission appoints Derrick D. Service filed a formal request and BILLING CODE 7710–FW–P
Dennis to serve as Public Representative associated supporting information to
in these dockets. add Priority Mail Contract 160 to the
competitive product list.1 SECURITIES AND EXCHANGE
III. Ordering Paragraphs COMMISSION
The Postal Service
It is ordered: contemporaneously filed a redacted [Release No. 34–76590; File No. SR–
1. The Commission establishes Docket contract related to the proposed new NYSEArca–2015–93]
Nos. MC2016–28 and CP2016–34 to product under 39 U.S.C. 3632(b)(3) and
consider the matters raised in each 39 CFR 3015.5. Request, Attachment B. Self-Regulatory Organizations; NYSE
docket. To support its Request, the Postal Arca, Inc.; Notice of Filing of Proposed
2. Pursuant to 39 U.S.C. 505, Derrick Service filed a copy of the contract, a Rule Change Relating to Listing and
D. Dennis is appointed to serve as an copy of the Governors’ Decision Trading of Shares of Cumberland
officer of the Commission to represent authorizing the product, proposed Municipal Bond ETF Under NYSE Arca
the interests of the general public in changes to the Mail Classification Equities Rule 8.600
these proceedings (Public Schedule, a Statement of Supporting
Representative). Justification, a certification of December 8, 2015.
3. Comments are due no later than compliance with 39 U.S.C. 3633(a), and Pursuant to Section 19(b)(1) 1 of the
December 16, 2015. an application for non-public treatment Securities Exchange Act of 1934 (the
4. The Secretary shall arrange for of certain materials. It also filed ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
publication of this order in the Federal supporting financial workpapers. notice is hereby given that, on
Register. November 24, 2015, NYSE Arca, Inc.
II. Notice of Commission Action (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
By the Commission.
Stacy L. Ruble, The Commission establishes Docket with the Securities and Exchange
Secretary. Nos. MC2016–29 and CP2016–35 to Commission (the ‘‘Commission’’) the
consider the Request pertaining to the proposed rule change as described in
[FR Doc. 2015–31373 Filed 12–11–15; 8:45 am]
proposed Priority Mail Contract 160 Items I, II, and III below, which Items
BILLING CODE 7710–FW–P
product and the related contract, have been prepared by the Exchange.
respectively. The Commission is publishing this
The Commission invites comments on notice to solicit comments on the
POSTAL REGULATORY COMMISSION
whether the Postal Service’s filings in proposed rule change from interested
[Docket Nos. MC2016–29 and CP2016–35; the captioned dockets are consistent persons.
Order No. 2859] with the policies of 39 U.S.C. 3632,
3633, or 3642, 39 CFR part 3015, and 39 I. Self-Regulatory Organization’s
New Postal Product CFR part 3020, subpart B. Comments are Statement of the Terms of Substance of
due no later than December 16, 2015. the Proposed Rule Change
AGENCY: Postal Regulatory Commission.
ACTION: Notice. The public portions of these filings can The Exchange proposes to list and
be accessed via the Commission’s Web trade shares of the following under
SUMMARY: The Commission is noticing a site (http://www.prc.gov). NYSE Arca Equities Rule 8.600
recent Postal Service filing concerning The Commission appoints Kenneth R. (‘‘Managed Fund Shares’’): Cumberland
the addition of Priority Mail Contract Moeller to serve as Public Municipal Bond ETF. The text of the
160 negotiated service agreement to the Representative in these dockets. proposed rule change is available on the
competitive product list. This notice Exchange’s Web site at www.nyse.com,
III. Ordering Paragraphs
informs the public of the filing, invites at the principal office of the Exchange,
public comment, and takes other It is ordered: and at the Commission’s Public
administrative steps. 1. The Commission establishes Docket Reference Room.
DATES: Comments are due: December
Nos. MC2016–29 and CP2016–35 to
consider the matters raised in each II. Self-Regulatory Organization’s
16, 2015. Statement of the Purpose of, and
docket.
ADDRESSES: Submit comments Statutory Basis for, the Proposed Rule
2. Pursuant to 39 U.S.C. 505, Kenneth
electronically via the Commission’s R. Moeller is appointed to serve as an Change
Filing Online system at http:// officer of the Commission to represent
www.prc.gov. Those who cannot submit In its filing with the Commission, the
the interests of the general public in self-regulatory organization included
comments electronically should contact these proceedings (Public
the person identified in the FOR FURTHER statements concerning the purpose of,
Representative).
mstockstill on DSK4VPTVN1PROD with NOTICES
INFORMATION CONTACT section by and basis for, the proposed rule change
3. Comments are due no later than and discussed any comments it received
telephone for advice on filing December 16, 2015.
alternatives. on the proposed rule change. The text
of those statements may be examined at
FOR FURTHER INFORMATION CONTACT: 1 Request of the United States Postal Service to
David A. Trissell, General Counsel, at Add Priority Mail Contract 160 to Competitive
1 15 U.S.C. 78s(b)(1).
Product List and Notice of Filing (Under Seal) of
202–789–6820. Unredacted Governors’ Decision, Contract, and 2 15 U.S.C. 78a.
SUPPLEMENTARY INFORMATION: Supporting Data, December 8, 2015 (Request). 3 17 CFR 240.19b–4.
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Document Created: 2015-12-14 13:46:58
Document Modified: 2015-12-14 13:46:58
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | Comments are due: December 16, 2015. | |
| Contact | David A. Trissell, General Counsel, at 202-789-6820. | |
| FR Citation | 80 FR 77383 |
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