Training as a (slightly) younger man.
So AIG CEO Peter Hancock stepped into the ring with the Far Rockaway Rumbler himself, Carl Icahn, yesterday. We’re sure the schoolyard scrapper appreciated Hancock’s bravery in coming into his house. We’re also sure that he somewhat less appreciated the substance of Hancock’s message, which is that Uncle Carl is wrong, wrong, wrong about the need to smash AIG into little tiny pieces. But who knows? Carl was promising to keep an open mind.
Mr. Hancock [was] scheduled for an afternoon visit [Thursday] in Mr. Icahn’s offices in the General Motors Building on 5th Avenue in Manhattan. The meeting follows Mr. Hancock’s public rebuffing Tuesday of the billionaire’s idea for breaking up the global insurance conglomerate into three parts….
After Mr. Hancock’s comments, Mr. Icahn told The Wall Street Journal: “As long as he called me up and said he wants to come talk to me, before I pass judgment I want to hear his argument.” Mr. Icahn hasn’t identified the size of his position, other than to call it a “large stake.”
As Icahn Meets With AIG, Here’s What Could Happen Next [WSJ MoneyBeat blog]