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Daily Headlines
Rep. Frank balks at helping CSX in hedge fund battle
(Gatehouse News Service circulated the following story by Jay Pateakos on June 12.) BOSTON — With proposed talks between the state and CSX Corporation in purchasing land and tracks to extend the South Coast commuter rail stalled due to a liability issue, U.S. Rep....
U.S. economy trouble for Canada’s railways
(The following story appeared on the Financial Post website on June 12.) OTTAWA — The weakening U.S. economy is expected to put the brakes on further share price appreciation for Canada's major railways, according to Blackmont Capital analyst Avi Dalfen. Mr. Dalfen...
CSX says negotiated with TCI, talks broke off
(Reuters circulated the following on June 12.)) NEW YORK — CSX Corp. said on Thursday it negotiated with investment firm The Children's Investment Fund Management (TCI) to resolve a proxy contest, but said it broke off negotiations once it became clear TCI was seeking...
Court of Appeals next stop for CSX
(The following appeared at CNBC.com on June 12.) CSX will take its case against the two hedge funds with which the company’s fighting a proxy battle to New York’s highest court, CEO Michael Ward announced on Mad Money Thursday. The decision comes just a day after a...
Atascocita railroad worker killed in accident
(The following story by Stefanie Thomas appeared on the Houston Community Newspaper website on June 12.) HOUSTON — A Union Pacific Railroad worker from Atascocita was killed when he misdirected a train onto the wrong set of tracks near the intersection of Bay Area...
Judge denies CSX motion for injunction pending appeal
(Dow Jones Newswires circulated the following on June 12.) NEW YORK — A federal judge on Thursday denied a request by CSX Corp. (CSX) for an injunction pending appeal in a dispute with two hedge funds seeking to shake up CSX's board. In a one-sentence order, U.S....
CSX questions whether TCI, 3G board slate is ‘fit to serve’
(The following story by Wallace Witkowski appeared on the MarketWatch website on June 12.) SAN FRANCISCO — CSX Corp. urged shareholders on Thursday to consider whether board members nominated by hedge funds The Children's Investment Fund and 3G Capital Partners are...
Q&A with Amtrak President Alex Kummant
(Reuters circulated the following on June 12.) BOSTON — As oil prices surge, many Americans are rediscovering the railroad. Amtrak, America's struggling passenger railroad, saw record numbers in May when ridership rose 12.3 percent from a year earlier, and ticket...
Benefit rate increase for railroad unemployment and sickness benefits
(The U.S. Railroad Retirement Board issued the following on June 2.) CHICAGO — The maximum daily benefit rate payable for claims under the Railroad Unemployment Insurance Act increases to $61 from $59 in the new benefit year, which begins July 1, 2008. Benefits are...
Amtrak, developer in dispute over Baltimore land
(The Associated Press circulated the following on June 11.) BALTIMORE —Two lawsuits pit Amtrak against a developer in a fight over the use of land under a former parcel post building near Baltimore's railroad station. The disagreement that led to the lawsuits, filed...
