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Daily Headlines
CSX wants shareholder vote on hedge fund’s demands
(Source: Associated Press, February 14, 2017) OMAHA, Neb. — CSX wants its shareholders to vote on the demands a hedge fund is making as it seeks to install the executive who led Canadian Pacific’s turnaround at the U.S. railroad. The Mantle Ridge hedge fund said it...
Mantle Ridge statement on CSX’s call for special shareholder meeting
(Source: Mantle Ridge press release, February 14, 2017) NEW YORK — Mantle Ridge LP, an investment firm formed by Paul Hilal, which owns approximately 4.9% of the outstanding common shares of CSX Corp., today responded to the announcement that CSX will hold a special...
CSX calls special shareholders meeting to consider Harrison proposals
(Source: Railway Age, February 14, 2017) NEW YORK — CSX said Mantle Ridge had acquired less than 5& of its stock but requested compensation and control that outweighed its position. It added, however, that it would present the proposals for shareholder guidance...
CSX statement on “extraordinary” Harrison, Mantle Ridge requests
(Source: CSX press release, February 14, 2017) JACKSONVILLE, Fla. — CSX Corporation today announced that its Board of Directors has called a special meeting of shareholders to seek shareholder guidance on certain extraordinary requests of Mantle Ridge and Hunter...
CSX turns the tables on activist investor
(Source: Wall Street Journal, February 14, 2017) NEW YORK — CSX Corp. turned the tables on an activist investor that threatened a fight for control of the railroad operator’s board, revealing the investor’s demands and calling for its shareholder to vote on the...
Going round the bend with the Tehachapi Loop
(Source: Interesting Engineering, February 11, 2017) NEW YORK — Stretching for 1.17km, the Tehachapi Loop is a long spiral or helix stretch of railway in Kern County, California. It is located on the Union Pacific Railroad Mojave Subdivision running through Tehachapi...
Duffy’s Cut railroad workers will be honored with memorial service
(Source: Main Line Media News, February 13, 2017) BALA CYNWYD, Pa. — West Laurel Hill in partnership with the Duffy’s Cut Project will host the annual memorial service in remembrance of the Duffy’s Cut workers buried at the cemetery on March 5, 2017. William Watson,...
Teamsters UPS aircraft mechanics to customers: Don’t let UPS ruin your Valentine’s Day
(Source: International Brotherhood of Teamsters press release, February 13, 2017) MIAMI — As millions of couples wait for their flowers to arrive via UPS this Valentine’s Day, airline maintenance technicians and related classifications protested at a UPS store in...
BNSF postpones car lot plan at St. Paul Park
(Source: South Washington County Bulletin, February 13, 2017) COTTAGE GROVE, Minn. — BNSF Railway has idled its controversial car exchange facility proposal. Full story: www.swcbulletin.com
Bullet train agency cleared to buy two parcels in downtown Los Angeles
(Source: Los Angeles Times, February 10, 2017) LOS ANGELES — The California bullet train agency received clearance Friday to buy its first pieces of property in Los Angeles, two parcels along the Hollywood Freeway in downtown Los Angeles. Full story: Los Angeles...
