Sunday, 19 April 2015
Last updated 15 hours ago
May 6 2008 | 9:23am ET
Activist hedge fund The Children’s Investment Fund has fired a new salvo in its battle with U.S. railroad company CSX Corp. with a letter to CSX investors urging support for its board slate.
TCI and its partner, 3G Capital, asked investors to vote for their five-nominee slate, which includes TCI chief Christopher Hohn. The other four nominees have prior railroad or airline experience. The CSX board has 12 members.
“Today CSX lags its peers on many key operational metrics, while its management and directors continue to award themselves the industry’s highest compensation,” Hohn and 3G’s Alex Behring wrote in a letter sent to CSX investors yesterday. The two hedge funds own an 8.7% stake in CSX.
CSX and TCI have sued each other, alleging all manner of malfeasance. The railroad says the hedge fund has violated federal disclosure requirements, while the hedge fund says the railroad has illegally enriched its board of directors.
TCI Countersues CSX, Alleging Insider Dealing
Railroad Co. Fires Back At Hedge Funds With Lawsuit
TCI Set For Congressional Grilling Over CSX
CSX Railroads Hedge Fund’s Criticism
TCI’s Hohn Among Nominees For CSX Board
Hedge Fund TCI, CSX Exchange Fighting Words
Activist Hedge Fund TCI Targets Railroad Giant CSX
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…