Ex CSX President Mike Ward sat or sits on the board of Ashland Oil. Ashland Oil Refinery near Huntington WV was a major rail shipper until its sale to BP.
Or an "interlocking directorate" situation. I think that used to be prohibited - for sure if a bank was involved, though I'm less certain about a customer as here - by either Section 8 of the Clayton Act, or Section 1 of the Sherman Act. Certainly would welcome any further info or correction by anyone with better knowledge.
- PDN.
It would be an anti-trust issue if USG sought or had a major financial interest in NS or if Ms. Scanlon was also a board member of a firm that competed with USG.
United States Steel had controlling interests in several common carriers of various sizes and that ownership was allowed.
Ms. Scanlon of US Gypsum is the CEO and as it happens to be US Gypsum basicaly has a monopoly on drywall in the US and is a major railroad shipper/reciver. Now she has been appointed to the board of NS. In the old days of when the US Attorney went after real anti-trust cases this would have been viewed as a intrigrated vertical monopoly and a conflict of intrest.
http://www.progressiverailroading.com/people/news/Scanlon-elected-to-Norfolk-Southerns-board--53751
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