When most hedge funds pack things up and move to Miami, the Sunshine State becomes merely an option for its employees, who generally remain free to continue working from offices in Manhattan or Greenwich or their homes. Not so Icahn Enterprises: Those unwilling the move to America’s worst state with Uncle Carl were free to stay in New York and go on the dole.
But for those who don’t relocate to the Sunshine State, “the Company will not contest your unemployment claim,” the memo says.
“The current maximum weekly Unemployment benefit rate is $450, which you can receive for a total of 26 weeks,” it adds.
That works out to a total of $11,700.
The coronavirus that Icahn has otherwise quite enjoyed may have delayed these plans, but they haven’t ended them, for Carl Icahn is showing just how serious he is about everyone in his employ taking up shuffleboard.
Two longtime Icahn lieutenants—current CEO Keith Cozza and Chief Financial Officer SungHwan Cho—are leaving the firm. Mr. Icahn, who hired them in 2004 and 2006, respectively, praised their contributions and said they are leaving on excellent terms. A factor in the decision was that neither planned to relocate to the Miami area, where Mr. Icahn and his firm recently moved.
Anyway, that means Icahn needs a new CEO. (You didn’t think he was going to give Brett everything, did you?) And, in addition to being able swim while above water, what else must an Icahn Enterprises CEO have? Why, an intimate knowledge of what a badly-run company looks like. And where better to learn what a badly-run company looks like inside and out than General Electric?
Aris Kekedjian, a 30-year GE veteran who was the industrial conglomerate’s chief investment officer until 2019, is to be named Icahn Enterprises LP’s chief executive and chief operating officer Monday…. Mr. Icahn said Mr. Kekedjian’s M&A chops will come in handy for engineering deals involving portfolio companies, which include refiner CVR Energy Inc. and Pep Boys auto shops.