“NEW YORK, March 7, 2014 (GLOBE NEWSWIRE) — Icahn Enterprises L.P. (Nasdaq:IEP) today issued the following statement: On April 2, 2013, the Securities and Exchange Commission (“SEC”) issued a report in which it provided guidance to issuers regarding the use of social media to disclose material non−public information. Our Chairman, Carl C. Icahn, intends to use Facebook, as well as the web site www.shareholderssquaretable.com (and communications to its members) and Twitter, from time to time to communicate with the public about our company and other issues. Mr. Icahn’s Facebook page is located at www.facebook.com/carlicahn. It is possible that the information that Mr. Icahn posts on Facebook, through the Shareholders’ Square Table website and to its members, and on Twitter, could be deemed to be material information. Therefore, in light of the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information that Mr. Icahn posts on Facebook, that he provides on the Shareholders’ Square Table website and to its members, and that he posts on Twitter, in addition to the information that we disclose using our investor relations website, SEC filings, press releases, public conference calls and webcasts.”
As you have probably heard by now, late last week Pimco co-founder Bill Gross made an inadvisable call to Reuters, the details of which can be found here. In short, Gross was responding to a Journal article that highlighted tension around the office that likely contributed to CEO Mohamed El-Erian choosing to depart his post; things like Gross’s insistence on absolute silence on the trading floor, letting it be known that employees are not to look him in the eye, slashing people’s bonuses for forgetting to number presentation pages, telling someone to cut him a check for $10,000 to make up for failing to stand when clients were in the office, and uttering the words “If only Mohamed would let me, I could run all the $2 trillion myself…I’m Secretariat…Why would you bet on anyone other than Secretariat?” while holding court with a bunch of traders.
Perhaps in a somewhat misguided attempt to get his side of the story out to the press, Gross told Reuters that the Journal article, written by Greg Zuckerman and Kirsten Grind, had actually been authored by El-Erian, as part of a campaign to “undermine me,” “indicated that he had been monitoring El-Erian’s phone calls,” and when it became apparent that the news outlet was not simply going to run a story vindicating Gross without any kind of supporting evidence that El-Erian had indeed ghost-written the Journal story, “You’re on his side. Great, he’s got you, too, wrapped around his charming right finger.” (According to a spokesman for Pimco, “Gross…categorically denies saying this firm ever listened in on Mr. El-Erian’s phone calls or that Mr. El-Erian ‘wrote’ any previous media article.”)
So! Probably kind of an awkward day to be working out of the Newport Beach office. For employees who live in fear of saying the wrong thing– or saying anything, period– in front of Gross in good times, anxiety is likely running high. For them, some tips re: how to make it out alive in the coming weeks with your body parts and bonuses intact: Read more »
At a meeting with Sprint Corp. executives in October, the chief executive of parent company SoftBank Corp. lost his temper about the mobile carrier’s advertising, complaining that it wasn’t luring enough new customers. “Are you stupid?” yelled Masayoshi Son, who engineered the Japanese company’s takeover of the No. 3 wireless provider in the U.S. last year for about $22 billion, according to three people in the room. He slammed his fist on a table and suggested that Sprint fire all its ad agencies and start over. One person who was there says some Sprint executives told Mr. Son later that the company couldn’t just cancel its advertising contracts…He has been working on a possible bid for T-Mobile, people familiar with the matter say. But U.S. antitrust officials have expressed strong opposition, saying a takeover could reduce competition. It has been about two years since the Justice Department rejected AT&T’s $39 billion deal to buy T-Mobile. For now at least, that leaves Mr. Son to fix what he calls a “loser” mentality at Sprint and complacency at the mobile carrier’s headquarters in Overland Park, Kan., a person close to him says…Defenders of Mr. Son say he congratulates as often as he criticizes, occasionally hugging employees. [WSJ]
On the off chance that the Magic: The Gathering Online Exchange or CEO Mark Karpelès have any assets, real or imagined, in the U.S., the guy suing them—you know, over the small problem it’s had, re: losing all of the bitcoins it was supposed to be keeping tabs on—would like those assets to stay put, whatever that might mean. Read more »