• Economic Regulation– Surface Transportation Board (STB) • Has primary responsibility for resolving railroad rate and service disputes and potential rail mergers• Some jurisdiction over motor carriers, domestic water transportation, and rates and services of pipelines not regulated by the Federal Energy Regulatory Commission1– Due to deregulation • Civil Aeronautics Board (CAB) was eliminated• Interstate Commerce Commission (ICC) was eliminated with functions transferred to a new agency, the Surface Transportation Board (STB)– Economic deregulation has allowed greater freedom with respect to pricing and service optionsLegal Classification of Carriers• Transportation carriers are classified as either– For-hire• Common• Contract• Exempt– Private• Classification is important because different levels of economic regulation are applicable to different carriers• Common carriers – Serve the general public• Contract carriers – Offer specialized service to customers on a contractual basis– No obligation to serve the general public or to treat customers on an equal basis• Exempt carriers – Exempted from economic regulation due to legislation• Private carriers – Companies whose primary business is other than transportation and provide their own transportation service– Also exempt from economic regulation
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