LAST WEEK, I STARTED A THREAD ON CSX, AND ITS MANAGEMENT; HOW THE ALLEDGED cORPORATE MISMANAGEMENT COULD BE IN A POTENTIAL SITUATION FOR FINANCIALNCIAL REPERCUSSIONS. IN PARTICULAR, WHERE ITS STOCK VALUE WAS CONCERNED…
SOME OF THE RESPONSES SEEMED TO LAY THE PROBLEMS AT ITS BOARD OF DIRECTORS, AND THEIR INABILITY TO BE PROACTIVE IN RAILROAD OPERATIONS; SEEMINGLY, GUILTY OF THROWING LARGE SUMS OF MONEY AT SHOWCASE PROJECTS THAT SOLVED SOME OF THEIR PROBLEMS, BUT NOT ALL. CREATING EVEN MORE PROBLEMATIC OPERATIONAL ISSUES FOR THE CORPORATION TO DEAL WITH.
ALL OF THIS WAS PUT IN MOTION BY A GROUP OF ENGLISH INVESTORS. SPECIFICALLY,THE CHILDREN’S INVESTMENT MASTER FUND; ‘THE FUND’ OWNING SOME 14 MILLION SHARES OF CSX; PUBLICIZED A LETTER THAT PRETTY MUCH TOOK CSX CEO WARD, AND ITS BOARD OF DIRECTORS TO TASK FOR A NUMBER OF ISSUES.
hERE IS A LINK TO A COPY OF THAT LETTER:
http://news.moneycentral.msn.com/provider/providerarticle.aspx?Feed=BW&Date=20071016&ID=7636507
YESTERDAY, AND THEN AGAIN TODAY, WHILE WATCHING THE MORNING NEWS–THERE WAS A BRIEF ADVERTISEMENT FOR CSX, AND HOW GOOD IT WAS TO UTILIZE “THEIR TRUCKS” [AS IN UNDER BOXCARS!]
MAYBE SOMEONE IN MANAGEMENT IS BEGINNING TO HEAR A MESSAGE, AND RESPONDING BY GETTING CSX’S NAME OUT IN FRONT OF THE PUBLIC IN A GOOD WAY ?
ONE OF THE COMPLAINTS VOICED BY FORUM MEMBERS WAS THAT CSX HISTORICALLY SEEMED TO TAKE ANY OCCASION THAT COULD GENERATE PUBLICITY; TO SHOOT CSX IN ITS OWN CORPORATE FOOT. [%-)]