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In 2008 the US railroad company CSX won a court case against the Children's Investment Fund and 3G Capital Partners, another hedge fund, after the funds announced that they had acquired about 20% of CSX's stock. [9] TCI succeeded in electing four of its five directors to the CSX board, but CSX shares declined by about 50 percent after the meeting.
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The following is a list of CSX management [28] as of April 2024: John J. Zillmer, chairman of the board of directors; Joe Hinrichs, president and chief executive officer; Sean Pelkey, executive vice president and chief financial officer; Kevin Boone, executive vice president of sales and marketing; Mike Cory, executive vice president of operations
As discussed in CSX Corp. v. The Children's Investment Fund Management, TCI argued that it was not the beneficial owner of the shares referenced by its total return swaps and therefore the swaps did not require TCI to publicly disclose that it had acquired a stake of more than 5% in CSX. The United States District Court rejected this argument ...
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Railway operator CSX (CSX) said second-quarter profit increased 47% or $414 million from the previous quarter. CSX had predicted a 96 cents a share increase, but exceeded expectations with the $1. ...
Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the value of the firm to the shareholders, and the tools and analysis used to allocate financial resources.
Financial innovation is the act of creating new financial instruments as well as new financial technologies, institutions, and markets. Recent financial innovations include hedge funds , private equity , weather derivatives , retail-structured products , exchange-traded funds , multi-family offices , and Islamic bonds ( Sukuk ).