File for price reconsideration? POCB just doesn't get it. Look at similiar previous STB decisions, and you will notice that the STB does not often vary from this particular aspect and is pretty rigid in their decisions. Remember, the Port initiated this whole thing under the Feeder Line program, and have prevailed to force the sale at a "fair price". IMHO, salvage costs of the bridges should have been included, but the Port failed to obtain independent support of this. Since CORP filed for abandonment and it has been approved, unless another party immediately steps in if the Port failed to buy it the line will be scrapped.

The only way I could imagine that the STB would reconsider the price is if CORP agrees to a lower price (any bets on this?) or the Port is able to show that the STB failed to properly follow their own proceedures or the value was based on false information from CORP. There is a possibility that the Port could go to federal court, which at best would only return it to the STB for reconsideration if the court found that the law was not properly followed or interperted by the STB.

I will give the Port and their consultants credit. In most of the STB decisions for forced sales (usually during abandonment), the potential buyer does not do anything that proves a lower value, and the STB accepts the railroad's value. Most of the time, the potential buyer has no real financing or concept of the actual salvage value and the line is scrapped anyway.

Good luck to the Port, but I think they already know the final price.