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Florida Times-Union – CSX Corp.’s proxy fight with two hedge funds ended in September with four nominees from The Children’s Investment Fund Management LLP and 3G Capital Partners Ltd. winning election to CSX’s board.
But even though the fight is long over, it continues to be in the news.
Last week, Securities and Exchange Commission Chairwoman Mary Schapiro told a U.S. Senate subcommittee that the commission is considering new disclosure rules on equity swap arrangements. According to a Bloomberg News story, the SEC’s examination of equity swaps is a direct result of CSX’s battle with TCI and 3G.
The battered insurance giant AIG returns to Capitol Hill Wednesday facing another frosty reception in Congress – where three AIG trustees appointed by the U.S. government will make their public debut amid growing skepticism over their role at the company.
House Oversight Committee Chairman Edolphus Towns (D-N.Y.) is questioning whether the Federal Reserve Bank of New York – which installed the handpicked trustees in January – is doing enough to protect taxpayers footing the bill for the $182.5 billion bailout.
And POLITICO has learned that one of those trustees has another role – as chairwoman of a Bermuda-based firm that administers hedge funds based in the Cayman Islands and other global tax havens.
Detroit News – Several top officials in the Obama administration will tour the Washington Auto Show this week, getting a firsthand look at the auto industry’s newest offerings at a time when they are considering significant auto regulations.
Environmental Protection Agency Administrator Lisa Jackson, Transportation Secretary Ray LaHood and Carol Browner, White House coordinator for climate and energy policy, are to tour the show and meet with top auto industry officials, the White House confirmed late Sunday.
Rep. Ed Markey, D-Mass., chairman of the House Select Committee on Energy Independence and Global Warming, and Mary Nichols, chairwoman of the California Air Resources Board, also will attend, spokesmen for the pair confirmed. Sen. Barbara Boxer, D-Calif., chairwoman of the Environment and Public Works Committee, is also expected to attend.
