The Board grants an exemption, under 49 U.S.C. 10502, from the prior approval requirements of 49 U.S.C. 11323-25 for James George and J&JG Holding Company, a noncarrier (collectively, Petitioners), to continue in control of Saginaw Bay Southern Railway Company (SBS), upon SBS's becoming a rail carrier pursuant to a related transaction involving the acquisition and operation of a line of CSX Transportation, Inc.\1\ Petitioners control a Class III carrier, Lake State Railway Company (Lake State), operating in Michigan. One of Lake State's lines connects near Bay City, MI, with the line to be acquired by SBS in the related transaction.
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