Carl Icahn

Carl Icahn Drives A Hard Bargain At Work And At Home

Young Brett Icahn’s plans to follow in his father’s footsteps with a chunk of his father’s money have run into a snag, namely, his father. Sure, the elder Icahn would be happy to help his son remove the training wheels, but he just can’t help it if he’s the superior negotiator, even at 78. Read more »

Carl Icahn Is Human

Well, more likely, someone who works for him is. Yesterday, someone forgot to double-check his or her SEC corporate tag glossary and scared the shit out of Gannett management, when he or she was actually trying to scare the shit out of Hertz management, which may not be necessary anymore because Hertz seems to have gotten the message. Read more »

Carl Icahn Really Knows How To Make A 2.2% Return Shine

A couple of weeks back, Carl Icahn took to a regulatory filing to give himself a pat on the back for putting the kind of competent asses in boardroom chairs that instantaneously turn a company around. And no company got its ass more turned around than eBay, which boasted the worse corporate governance in the history of capitalism until Uncle Carl’s designee—well, not exactly designee, but someone inoffensive to both Carl and eBay—took his seat on June 17 and led the online auction site to an impressive 76% annualized return over the next 13 days, during which time eBay shares actually appreciated all of 2.2%.

That’s not bad for two weeks’ work, of course, but the crazy thing is that two months later, Icahn’s chart proving beyond any doubt that activism works or something actually understates his case. eBay shares are up 13.67% since former AT&T CEO David Dorman took his seat, and that annualizes out to something like 125%, give or take. Maybe he is a wizard. Or: Read more »

School is in session. Read more »

Would it have been nice to visit Channing and Jonah on the set of the third installment? Sure. Did a small part of him want to direct? Yes. Did he feel he could’ve brought a Queens school-yard authenticity to things? You betcha. But these are not the things that keep him up at night. Read more »

Carl Icahn Thinks Carl Icahn Is A Pretty Great Recruiter

Are the claims of certain strip-mall discount retailers getting Carl Icahn down? If so, he’s consoling himself with all of the directors whose strings he’s pulling. Read more »

Carl Icahn sounded pretty pleased with himself a couple weeks ago, after another company had bent to his will, and in rapid time. Uncle Carl deemed his seven-week, $175 million-profit-making investment in Family Dollar “yet another validation of the activist investment philosophy.”

Well, Family Dollar buyer Dollar Tree wants it known that it isn’t going to be pushed around by a 78-year-old bully, even if he learned how to throw a punch on a Queens schoolyard. It was totally going to buy Family Dollar months before Carl Icahn got involved. In fact, it should be thanking him for getting involved and keeping its price down. Read more »

So Bill Ackman’s earth-shattering, research-redefining, can’t-miss company-killing “deathblow” didn’t exactly pan out yesterday, what with Herbalife shares soaring 25% yesterday as investors shrugged, “that’s all you got?” Now, it’s unclear what this exactly means for Pershing Square investors, since Ackman’s ninja restructuring of his $1 billion short last year makes precise P&L calculations impossible, but suffice it to say it means nothing good.

Nothing good for Ackman, anyway, but very good for new old buddy Carl Icahn, who remains a big believer in diet shakes in spite of Ackman’s best efforts to “get him out of the stock.” Two-hundred-and-thirty-four million dollars good. Good enough to let Uncle Carl leave the matter magnanimously unmentioned while also generously picking up the check at their next rendezvous at Marea. Read more »