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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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Shares of CSX Corp. were up about 2% in after-hours trading following the release of the earnings report. Also Wednesday, CSX announced that Hinrichs’ predecessor as CEO, Jim Foote, had died.
Fintech", a clipped compound of "financial technology", refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, including mobile banking , online lending platforms, digital payment systems, robo-advisors ...
In 2017, CSX cut its workforce by 3,300 employees. In 2018, roughly 2,200 jobs were cut. A further reduction of 4,000 positions is planned by 2020. CSX estimates that after these cuts it will have a workforce of about 21,000 people. CSX is also trying to increase profits by monetizing some of its real estate.
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If the value of the assets drop considerably, and the hedge fund is unable to provide more collateral on a margin call from the investment bank, the investment bank can sell the assets. [ 2 ] High-cost borrowers who seek financing and leverage, such as hedge funds, are natural receivers in Total Return Swaps.