Let’s kick Ancora in the pants and other likeminded “big investors… “
Buckle up…Ancora antics are on the way. Last year, this bunch a infantile pirates called “Ancora” (an “activist investment firm”) attempted to hijack Norfolk Southern and oust Alan Shaw and failed horribly. I watched this gang of wretched fools last year and now their excuse to target CSX is even more lame and weak. Well, I may have less than 20 shares of CSX common stock and Ancora has thousands of CSX stock…but those who bet for David over Goliath were not disappointed!
FoCSX Statement:
As a CSX shareholder, as well as a student of CSX history, CSX is doing fine. CSX does not have to merge with anyone. BNSF does not have to merge with anyone. No one has to merge with anyone. It’s best to understand that Ancora has nothing of a leg to stand on and is just a gang of loud-mouthed pirates and, in the end, will be kicked to the curb when they tried this stunt with Alan Shaw and Norfolk Southern last year. The truth is that Ancora does not understand history, railroad mergers and its real intentions is to “strip CSX down to the bare bones” using this move by UP-NS as a lame excuse to try to steal a railroad. First of all, the transcontinental dream is a rather old one, going back to the beginnings of Union Pacific (1862). The problem here is the transcontinental dream prize only a prestige prize for one railroad and not about improved service going from Ohio to California. CSX already does this service and has strong ties with CPKC and BNSF. CSX’s history of ties to coal go back to 1828, when the newly formed Baltimore and Ohio’s drive westwards met coal mines in Cumberland. CSX probably realizes that the future of coal as a major commodity is limited. The CSX Select Sites program is a great answer for investments in future business and industrial development. Last but not least, the One CSX concept would be for first to go if the pirates from Ancora get there way. OneCSX is about valuing employees and their contributions to CSX as a team. CSX’s customer service satisfaction is at all time highs, and the OneCSX culture is, as Ancora might say, to blame for that.
Ancora will lose this one too, like they did last year when they went after Norfolk Southern. I encourage my fellow shareholders to kick Ancora in the pants and not fall for the false glitter and glamour of the transcontinental dream. Our railroads are a national treasure, they are the backbone of our economy, and they should not be piggy banks for demanding and selfish “big investors.”
Let’s kick the pants out of all of them!