William Ackman

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 »

FTC Toying With Bill Ackman’s Emotions

If you hadn’t previously heard, Pershing Square Capital Management’s Bill Ackman thinks that nutritional supplements company Herbalife is a big scam, a belief that has cost him (and his investors) a half-billion dollars. Nevertheless, he has stated that he remains confident that the white knights at the Federal Trade Commission will eventually ride in on their white horses and shut Herbalife down, thereby vindicating his belief that one day, Herbalife shares will be worth nothing, rather than more and more with each passing day.

Imagine his excitement, then, to read yesterday that FTC was cracking down on bogus weight-loss products. Well, Bill undoubtedly thought to himself, Herbalife sells a whole range of bogus weight-loss products! Alas, if the Pershing Square founder is still looking for the name “Herbalife” among the companies who paid the FTC $34 million to go away, he will be doing so for some time to come. Read more »