Author Topic: Mantle Ridge ready to pull the plug?  (Read 835 times)

SankyInbound

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Mantle Ridge ready to pull the plug?
« on: October 19, 2019, 10:48:12 PM »
Found an article about a CSX stock buyback.  Hopefully mantle ridge moves on to other things.

https://www.bizjournals.com/jacksonville/news/2019/10/18/activist-investor-who-brought-change-to-csx-sells.html?ana=apple_jacksonville

"Don't find a fault, find a remedy."

CSX_CO

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Re: Mantle Ridge ready to pull the plug?
« Reply #1 on: October 19, 2019, 11:01:23 PM »
Found an article about a CSX stock buyback.  Hopefully mantle ridge moves on to other things.

https://www.bizjournals.com/jacksonville/news/2019/10/18/activist-investor-who-brought-change-to-csx-sells.html?ana=apple_jacksonville

Unless they take the ones they’ve installed, nothing will change.


indyspy

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Re: Mantle Ridge ready to pull the plug?
« Reply #2 on: October 20, 2019, 12:28:00 AM »
This is the "Taking the money and run"

Analysts told the crook investors they could wring no more from the prey.

Now they have targeted a food service company.

In the mean while. Look to CP rail to see what the future looks like. PSR will slowly be forgotten about and the railroad will have to appease the customers they upset.
If in doubt, Notch it out!

SankyInbound

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Re: Mantle Ridge ready to pull the plug?
« Reply #3 on: October 20, 2019, 09:43:59 AM »
Forget about great service and doing the best you can.  Now it’s all about stock price manipulation!  On to their next endeavor!
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trainmaster53

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Re: Mantle Ridge ready to pull the plug?
« Reply #4 on: October 21, 2019, 03:40:55 PM »
Could it be that Mantle Ridge is getting ready to Sell off Parts of CSX to other Railroads and split from the original Chessie/Seaboard Corp?

scraphauler

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Re: Mantle Ridge ready to pull the plug?
« Reply #5 on: October 21, 2019, 03:50:03 PM »
NO.  They simply are selling their stock and moving onto their next victim.   See Indyspy's response.

The opinions, views, and incoherent ramblings presented here do not necessarily represent the view point of any company I work for or own,  any logical thinking being, or even me.

nyc6001

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Re: Mantle Ridge ready to pull the plug?
« Reply #6 on: October 21, 2019, 05:33:49 PM »
Trainmaster53, in this day and age, the idea of piecing out any of the remaining biggest 6 N. American systems would not be approved by the STB., unless its corresponding system was also dismembered simultaneously.

IndyHog

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Re: Mantle Ridge ready to pull the plug?
« Reply #7 on: October 22, 2019, 12:30:29 AM »
The activist that helped transform CSX Corp. (NASDAQ:CSX) has wound down most of its investment in the company, after the stock has roughly doubled since the first reports in January 2017 that Mantle Ridge had started pushing for a shake-up.
Paul Hilal's investment vehicle has sold off nearly all of its $1B position in CSX, including ~4.7M shares bought back by the railroad, according to regulatory filings.
Hilal continues to own 3.4M shares of CSX, according to the latest SEC filing, and will stay on as a director and vice chairman of the company's board.
Hilal launched a bid to install Hunter Harrison as CSX's CEO after the railroad veteran had turned around operations at two large Canadian railroads, including one with the backing of Pershing Square Capital, where Hilal had once worked.
Eventually, CSX began operating a leaner railroad with increased profits, and its operating ratio, which shows how much revenue is consumed by operating expenses - where a lower figure is better - fell dramatically.
Meet the new boss, he's the same as the old boss......wait a minute, He's much worse