Industry News
Court Ruling Allows TCI/3G to Seat Four on CSX Board
September 16, 2008 | 04:10 p.m. CDT
The U.S. Court of Appeals for the Second Circuit in New York upheld a lower court's ruling Sept. 15 to allow the Children's Investment Fund Management L.L.P. (TCI) and 3G Capital Partners Ltd. to vote their shares at CSX Corp's annual shareholders meeting, which was held June 25. As a result, all four of TCI/3G's nominees that won election at the meeting soon will be seated on the board, reports Progressive Railroading.
In addition to 3G Managing Director Alexandre Behring and Lamphere Capital Management Managing Director Gilbert Lamphere – who CSX invited to join the board in late July – TCI founder Christopher Hohn and London Underground Managing Director Timothy O'Toole will join the Class I's board at a reconvened annual meeting Sept. 24, when voting results will be received and accepted, CSX said.
CSX and TCI/3G had been engaged in a proxy fight for more than eight months, during which time the railroad sought a court ruling to prevent the hedge funds from voting their entire shares. TCI/3G accused CSX of employing delay tactics with election processes.
Daylight Saving Time Begins Sunday
Mar. 12, 2010 | 09:41 a.m. CST
Employees prepare for Daylight Saving Time, Sunday, March 14, at 2 a.m. More...
Intermodal, Carload Freight Up from Last Year
Mar. 11, 2010 | 02:25 p.m. CST
Rail freight volume on U.S. railroads is continuing to show some signs of recovery, with both carload freight and intermodal traffic during the week ended March 6 registering gains from last year. More...
Knight Discusses UP's Franchise, Business Initiatives
Mar. 9, 2010 | 12:45 p.m. CST
Rob Knight will address the J.P. Morgan Aviation, Transportation and Defense Conference Wednesday, March 10, at 11:15 a.m. ET. More...
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