Dow Chemical

  • 13 Nov 2014 at 4:09 PM

Dan Loeb Channels His Inner Steven Spielberg

danloebthirdpoint-260x195As many of you know, Dan Loeb is something of a pioneer in the activist investing industry. Sure, there were others doing it before him, but he made a name for himself when it came to the art of disemboweling his targets via pen and paper. And while he continues to send various public company CEOs and their boards his trademark letters (all of which include a potent, poetic blend of sarcasm, self-regard, belittling attacks on management competence, and lengthy prescriptions for change), Loeb is not content to sit on his laurels vis-à-vis fucking up the universes of his objects of scorn, or to get left behind in the 20th century of activist investing. In April 2012, he debuted a blog exclusively devoted to his proxy battle against Yahoo– the first of its kind!– and today, he’s unveiled his latest reinvention of the wheel: a short film about Dow Chemical, complete with ominous music that is sure to haunt your dreams and make the Koch brothers proud. The film is a certain finalist for best picture at the Proxies, an annual awards ceremony honoring cinematic achievement in the hedge fund industry. Read more »

Dan LoebDow Chemical’s management team are “going to be great listeners” to ideas from shareholders on improving the company’s performance, its chief executive Andrew Liveris has promised. Speaking as the company reported better than expected earnings for the third quarter, Mr Liveris said on Wednesday that he had been continuing to speak with Dan Loeb of Third Point Capital and other shareholders about how to raise Dow’s share price…Third Point, an activist hedge fund, in January revealed it had taken a stake in Dow and called for the group to be broken up, saying it “woefully underperformed” over the past decade…On Wednesday Mr Liveris denied that he had an “adversarial” relationship with Mr Loeb or other investors, and promised to listen to their analysis, but said he sometimes had to point out to them where they were wrong. [FT]

Savor this moment, Dow Chemical. Treasure it. Never let it go. Read more »

…on the topic of this plastics-business spin-off idea, the author of which shall apparently remain nameless. Read more »