Daily Record Financial News &
Wednesday, September 9, 2015
Vol. 102, No. 213 • Two Sections
35¢ www.jaxdailyrecord.com
Munoz leaves CSX for United Railroad’s No. 2 is new CEO for airline
By Mark Basch Contributing Writer
Oscar Munoz, CSX Corp.’s No. 2 executive, is leaving the Jacksonville-based railroad company to become chief executive officer of United Continental Holdings Inc. Munoz was just promoted from chief operating officer to the additional role of president of CSX in February, putting him second in line behind Chairman
Munoz
and CEO Michael Ward. CSX on Tuesday announced several promotions as Munoz resigned from the company, including appointing Executive Vice President Clarence Gooden as the company’s new president. Munoz was hired by United on Tuesday after its CEO, Jeff Smisek, resigned. Munoz has served on United’s board of directors since 2010. United said the resignations of Smisek and two other executives
are tied to a previously disclosed federal investigation of their dealings with the Port Authority of New York and New Jersey. Munoz had been with CSX since 2003 after holding executive positions with several major corporations, including AT&T Consumer Services and The CocaCola Co. “Oscar’s track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United’s
upward trajectory,” United’s new Chairman of the Board Henry Meyer said in a news release. Meyer was also appointed Tuesday to replace Smisek as chairman. In addition to promoting Gooden to replace Munoz as president, CSX appointed Executive Vice President Cindy Sanborn to succeed Munoz as COO. Executive Vice President and Chief Financial Officer Fredrik Munoz
continued on
Page A-3
Pension, Rallying for the Jaguars Civic club hands out budget $13,000 taking a to groups step back Revenue drop leaves deficit of $320,000
By Max Marbut Staff Writer
City Council has discussed pursuing legal action on a special pension plan since 2012. It’s been pursuing a balanced budget for the past couple of months. Both issues will now take a step back after a decision and some key news came down Tuesday. The first part deals with the often-criticized senior staff voluntary retirement plan, a perk the Police and Fire Pension Board created in 2000. It has three members, including fund administrator John Keane. In 2012, former General Counsel Cindy Laquidara offered a legal opinion that the fund wasn’t authorized to create such a plan. Since then, council passed one resolution to pursue the issue that went nowhere. Another attempt was through a resolution that urged a remedy by the Florida Legislature, which didn’t address the issue. That leaves the latest attempt, introduced in November, for the general counsel to commence litigation about whether the fund mismanaged or took unauthorized actions by creating the plan. Instead of a vote Tuesday, it will head back to the committee level. Finance Committee Chair Bill Gulliford said the issue could have financial implications and should be reviewed by the group. It was the fault of the 2014 Rules Committee chair that didn’t happen, he said — and as he was that chairman, he took the blame. Not everyone agreed with the decision. Council member John Crescimbeni, a co-sponsor of the resolution, said the matter was simply finding out from a judge Council
Public
continued on
Page A-3
Photo by Fran Ruchalski
By David Chapman Staff Writer
Jacksonville Jaguars general manager Dave Caldwell gets a hearty handshake from 7-year-old Sohan Joshi, a self-proclaimed Jaguar fan for life. The two were at Tuesday’s pep rally at the JAX Chamber’s headquarters Downtown. The Jaguars open the season Sunday against the Carolina Panthers at EverBank Field. See more photos on Page A-6.
legal notices begin on page
B-1
Published
for
Uptown Civitan on Tuesday added more than $13,000 to its philanthropic giving to support community service organizations during the past 32 years. Each year the all-women civic club selects recipients based on the applicants’ service benefiting women, children and developmentally disabled residents, said Mary Jo Marjenhoff, chair of the Philanthropic Committee. Since it was chartered in 1983, club members have contributed more than $500,000 for services, equipment and financial support to local agencies and nonprofit. They also have donated thousands of volunteer hours. “When you give away money, it’s always fun,” said Wynester Sherrer, club president for 2014-15. Angelwood received $3,400 to buy automated defibrillators for the nonprofit’s group homes for developmentally disabled residents. A $2,000 award was presented to North Florida School of Special Education to help build an outdoor classroom. Jacksonville Sheriff’s Office Chief of Investi- Sherrer gations Tom Hackney accepted an $1,875 award that will be used to fund the processing of untested sexual assault kits. “This gift will give justice to people who have not had justice,” he said. Volunteers at WJCT’s Radio Reading Service read local newspapers for broadcasts that are received by about 900 people in Northeast Florida who are blind or have a disability that prevents them from reading for themselves. The service was awarded $1,500 to purchase radios that receive the broadcasts. The Clothing Center at Downtown Ecumenical Services received $1,300 that will be used to purchase new socks and underwear for children. Civitan continued on Page A-3
26,743
consecutive weekdays