Carl Icahn

Bill Ackman, Carl Icahn Give Up

Not on hating each other, of course, or on making money. But in the wake of Uncle Carl’s victorious waving of the white flag in his phony proxy war with Apple, r.e.: stock buybacks, his nemesis, after a bit of soul-searching, is calling it a day on his time at the mall. Unlike his last retail capitulation– ixnay on the jc enney-pay– Ackman’s investors are up to the tune of better than a billion dollars. Read more »

Carl Icahn was hardened on the school playgrounds of Queens in the 1940s. He knows how to play the game. So what if everyone hates his non-binding Apple buyback proposal, which had absolutely zero chance of succeeding? He doesn’t need it anymore; Apple has already given him an early birthday present. Read more »

  • 13 Dec 2013 at 5:26 PM

CalPERS Not Interested In Carl Icahn’s Dinner Plans

The giant pension fund’s corporate governance honcho, Anne Simpson doesn’t like Carl Icahn’s jerk-off plans. She doesn’t like his jerk-off Twitter account. And she doesn’t like him, jerk off. Uncle Carl had better keep his goldbrickin’ ass out of her beach community state. Read more »

Pershing Square’s Bill Ackman appeared on Bloomberg Television for an hour today from the Robin Hood Investors Conference in New York, telling Bloomberg TV’s Stephanie Ruhle that he’ll take his Herbalife bet “to the end of the earth” even as he has lost $400-$500 million on the investment. He also said that Herbalife longs are all 80-year old billionaires. Carl Icahn responded to Ackman in a conversation with Bloomberg TV’s Trish Regan, saying: “I fail to understand how Bill Ackman, whom I haven’t spoken to for years, nor do I intend to speak to, would know what I am or am not committed to. I continue to believe Herbalife has a great future, and in my opinion many of the things Ackman says about it are simply the rantings of a sore loser…Interestingly there is something that Ackman and I have in common. Ackman complained at an Oxford conference that every time I went on TV and mentioned Herbalife, the stock went up a few points. Well, that’s also true of him.” Read more »

“We get involved on the board. We don’t micromanage and interestingly we get invited back because we’re not a disturbance or a disruption. And Hanes is a good example — we bought it at 20 and it’s now at 80. And I think the CEO will say that in the beginning he was wary of us but he said that we helped him quite a bit. And Motorola I think I still stay friendly with Greg Brown (chairman and chief executive officer of Motorola Solutions, Inc.) who says we helped him. I think this model must be used in this country if we are going to remain competitive. One of the major reasons I think for the fact that we have unemployment is and we don’t compete is the mediocrity of so many of our managements and so many of our boards. I want to make it clear that there are some very good managers and some very good boards. But generally, it’s amazing how badly these companies are run.” [Reuters]

  • 11 Nov 2013 at 2:05 PM

Carl Icahn And Tim Cook Had Another Chat: Carl Icahn

Carl Icahn told CNBC he had a “good conversation” with Apple CEO Tim Cook, and both believe that the company’s stock remains undervalued. Apple’s Cook told Icahn that he’s still studying Icahn’s proposal to buy back $150 billion worth of the company’s stock…Shortly after publishing the letter, Icahn told CNBC that he had no intention of giving up on a large buyback and said he may consider a proxy battle to return more value to shareholders. “If they don’t do it, we’ll test the waters and see if the shareholders want us to do it and if we could win,” Icahn told CNBC. “We’ve said we’re not going away. I’ve said that to (CEO) Tim (Cook) and I’ll say it again.” [CNBC, earlier]

  • 23 Oct 2013 at 2:32 PM

But Daaad! Netflix Has So Much More Growth Potential!

As you may have heard, starting October 10, Carl Icahn sold 2.99 million shares of Netflix. His son Brett, who works for the old man, thought this was a mistake. So that no one felt like their voice wasn’t being heard, a filing disclosing the sale included statements by both parties, “exposing [the] disagreement” between Senior and Junior. Brett’s lays out his investment thesis. Carl’s, which reads like he addressed it to Brett and then changed it to “Dear SEC”, is essentially:

“Listen up, Sonny Boy. I know you think you’ve learned a thing or two and that’s great. But step aside, Big Daddy’s got money to make.” Read more »