He didn’t use the P-word, or the BG-words. He never said, “unlike those assholes.” He didn’t have to, because it doesn’t take Michel Foucault to read between these lines of BlackRock’s Larry Fink. Read more »
Larry Fink: BlackRock Completely Different Operation Than You-Know-What, Formerly Run By You-Know-WhoBy Jon Shazar
One of the more unglamorous aspects of being an adult with a job outside the home is the matter of commuting. Whether you’re driving, taking the subway, or being chauffeured, the entire thing is a grind, a time-suck, a nuisance, and an opportunity to catch whatever the breeding grounds for bacteria violating your personal space are spreading, to say nothing of the fact that depending on how far you live from the office, the whole thing can cost a nice chunk of change, money that could be better spent on just about anything.
BlackRock exec Jonathan Burrows knew the evils of the daily commute all too well. He wanted to live outside of London, in East Sussex, but he still had to show his face around the office Monday through Friday, which meant spending an hour on the train each way. He couldn’t get rid of the 2+ hour slog, or the commoners with whom he had to interact en route, but he should, he told himself one day, be able to cut the cost. AND CUT COSTS HE DID. Read more »
The capo dei capi of money managers doesn’t like these young guns (and, in one notable case, not so young) spreading a lot of damned nonsense and nuisance in pursuit of their short-term goals. If this was not made clear enough in his letter to S&P500 CEOs (because Larry’s the kind of guy who writes letters to S&P500 CEOs) last month, allow him to clarify his disdain. Read more »
For the first time in more than a month, Carl Icahn has written about something other than eBay. Kind of*. “A Watershed Moment for Stockholder Participation” celebrates the fact that institutional investors have begun to stand up for themselves, and in Icahn’s lifetime, to boot, at least in between digs at and rehashings of his case against, you guessed it, eBay. Read more »