Daily Record Financial News &
Monday, January 8, 2018
Vol. 105, No. 036 • One Section
35¢ www.jaxdailyrecord.com
Foote’s salary below Harrison’s New CEO to be paid $1.2M base with the opportunity for a $1.5M incentive bonus. Obviously, CSX Corp. isn’t paying new CEO James Foote an $84 million bonus for joining the company, as it did for his predecessor. But beyond that special payment Hunt-
er Harrison received as he became chief executive last year, Harrison’s contract also paid a higher salary than Foote is getting. According to a Securities and Exchange Commission filing by Jacksonville-based CSX after it named Foote the permanent CEO last month, Foote will receive an annual base salary of $1.2 million. He also can earn an incentive bonus equal to 125 percent of his base salary, or $1.5 million. That’s a bump up from the $750,000 base salary he was scheduled to earn when he became chief operating officer, but still below Harrison’s contract. Harrison’s annual salary was $2.2 million plus a target bonus opportunity of $2.8 million.
The $84 million was not part of Harrison’s four-year employment contract but was paid to compensate him for money forfeited when he left his previous position as CEO of Canadian Foote Pacific Railway Ltd. Foote joined CSX in late October and was named CEO on Dec. 22, after Harrison’s death the previous week. CSX’s latest filing does not say how long Foote’s CEO agreement will be in effect, but his October employment agreement was for four years.
ADT going public again ADT Inc., which became public in 2012 and was taken private in 2016, is going public again. The security company filed plans with the Securities and Exchange Commission for an initial public offering. The filing does not say how many shares will be sold but funds affiliated with Apollo Global Management LLC, which currently own the company, will continue to hold more than 50 percent of the stock, it said. Boca Raton-based ADT is one of Jacksonville’s largest employers with more than 3,000 workers. The company employs
Legal community comes together for ‘Unity Day’
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Arlington apartments on deck near Regency Solera at Kendall West a $41 million construction project.
Photo by Max Marbut
The Jacksonville Bar Association President Tad Delegal, left, with D.W. Perkins Bar Association President Amber Donley and Miami attorney Michael Higer, president of The Florida Bar.
Inaugural event honors legacy of Martin Luther King Jr. By Max Marbut Associate Editor If having every seat reserved before an event debuts is indicative of potential longevity, the inaugural “Unity Day Luncheon” on Thursday at
River City Brewing Co. signals a long-term presence. The meeting of members of the D.W. Perkins Bar Association, which led the event, Jacksonville Women Lawyers Association, Jacksonville Asian-American Bar Associa-
tion, Jacksonville Chapter of the Federal Bar Association and The Jacksonville Bar Association had two goals. One, it was an opportunity for the legal community to be the first this year to recognize the annual Martin Luther King Jr. Day federal holiday Jan. 15. Two, it brought local voluntary Bar associations together to foster better understanding and collaboration, said Amber
Donley, president of D.W. Perkins. Donley said the event, attended by 119 people, mirrors King’s philosophies of choosing love over hate, unity instead of divisiveness and action instead of inaction. “It started as an idea to bring together the Bar associations to unify our community. It’s JBA
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Richbuilt Group of Jacksonville LLC seeks permits to build its proposed 378-unit apartment community in Arlington, although plans show a name change from Ibis Pointe to The Solera at Kendall West. The city is reviewing permit applications for 20 apartment buildings totaling a job cost of $40.5 million. Permits show 11 18-unit buildings and nine 20-unit structures on 28.25 acres west of the Southside Connector and south of Lone Star Road. Permits show an address of 1462 Solera Terrace. The apartments will comprise 108 onebedroom, 222 two-bedroom and 48 three-bedroom units. Amenities will include a clubhouse and pool. Richbuilt is based in Fort Pierce. Rich Properties bought the land from Indigo Jax Apartments LLC for $3.5 million. The site is north of Regency Square Mall.
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The Marbut Report: Who appoints who recommends judges could change
Lawmakers want more control over Judicial Nominating Commissions. Public
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