Charleston Daily Mail – The Greenbrier has been a powerful asset to West Virginia since before the state was a state. Its corporate parent today, Florida-based CSX Corp., recently announced that it has hired Goldman Sachs to make the resort a "viable entity."

The resort lost $35 million in 2008.

It’s easy to understand why CSX would want the Greenbrier, only one of its concerns, to earn its keep.

As the Wall Street Journal noted, the railroad industry is grappling with a severe drop in freight volume, the hospitality industry is in a serious slump, and CSX has been harried by hedge funds that questioned its investments and called for a management overhaul. That dispute put five new faces on the 12-member board.

Read Complete Article

Tags: charleston daily mail, csx, csx corp, goldman-sachs, greenbrier, hospitality industry, investments, member-board, new faces, railroad-industry, slump, viable entity, wall street, wall-street-journal, west virginia

West Palm Beach (HedgeCo.Net) – Rail company CSX Corporation issued its final report, showing that four of hedge fund TCI Group’s nominees (Children’s Investment Fund Management) received a larger number of votes than four of CSX’s nominees.

"We are delighted that the certified results confirm that Alex Behring, Chris
Hohn, Gil Lamphere and Tim O’Toole have all been elected to the CSX Board." The Children’s Investment Fund Management and 3G Capital Partners, said, "They bring valuable railroad and management experience to the CSX Board and look forward to working constructively with their fellow directors for the benefit of all CSX stakeholders. We thank our fellow shareholders for their patience during this lengthy process and expect all newly elected board members to be seated without further delay."

The TCI/3G proposal to repeal any recent by-law amendments, including the recent by-law limiting the right of shareholders to call a special meeting, was also approved.

CSX is appealing before the Second Circuit Court of Appeals.

Alex Akesson
Editor for HedgeCo.Net
Email: alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com

Tags: auml, boston, brokerages, due-diligence-service, gary-wilson, nephew, outsiders, prison-term, railroad-industry, shareholder-activists, target, us-congress