12-31-2013, 08:32 PM
Dec 16 issue of TIME Mag ran an article "MASTER OF THE UNIVERSE, Why Carl Icahn is the most important investor in America" It is a good read.
The sub-title is "the original WOLF OF WALL STREET. And for good reason.
These people are now called "Share holder activists", who were previously known as "Corporate Raiders." You determine what the name implies.
Back in the 70,s and 80,s they would target companies whos asset book value was far less than perceived market values, quietly buy up controling interest, and load the board of directors with their reps. If I remember correctly, they especially liked companies which had fat accrued pension assets.
Cracker Barrel is presently facing this again. As is Darden restaurants.
IS THIS GOOD OR BAD? Not for me to say. 'but I hardly think they hsve the long term welfare of the company as their goal!
The sub-title is "the original WOLF OF WALL STREET. And for good reason.
These people are now called "Share holder activists", who were previously known as "Corporate Raiders." You determine what the name implies.
Back in the 70,s and 80,s they would target companies whos asset book value was far less than perceived market values, quietly buy up controling interest, and load the board of directors with their reps. If I remember correctly, they especially liked companies which had fat accrued pension assets.
Cracker Barrel is presently facing this again. As is Darden restaurants.
IS THIS GOOD OR BAD? Not for me to say. 'but I hardly think they hsve the long term welfare of the company as their goal!