Here is a story that just ran on radio in Roseburg, Oregon:

Central Oregon & Pacific Railroad has officially filed with the Surface Transportation Board in Washington, D.C. with a Notice of Intent to Abandon and Discontinue Service on the Coos Bay rail line.
The filing came in near the close of business yesterday to notify the STB that the formal application for abandonment and discontinuance of service will be filed within the next 30 days.
The coastal rail line has be closed since September 21, 2007 by an railroad imposed embargo after it was decided that the tunnels along the route were deemed unsafe and subject to possible collapse.
In a related story the International Port of Coos Bay has taken another step toward acquiring the Coos Bay Rail line.
Last week the Port’s Board of Commissioner’s authorized Executive Director Jeffery Bishop to sign a letter of credit for 12.5 million dollars.
The action was required by the STB to demonstrate the Port’s ability to own and operate the rail line.
The board also authorized Bishop to file a Feeder Line Application with the STB. The application may force the sale of the rail line to the International Port of Coos Bay with the STB setting the purchase price.