Carl Icahn
Carl Icahn
Carl Celian Icahnis an American business magnate, investor, activist shareholder, and philanthropist. He is the founder and majority shareholder of Icahn Enterprises, a diversified conglomerate holding company based in New York City. He is also Chairman of Federal-Mogul, an American developer, manufacturer and supplier of powertrain components and vehicle safety products...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth16 February 1936
CityQueens, NY
CountryUnited States of America
Their earnings are way down. It's time for management to go,
provide a very low or no possibility of a successful recovery for the bonds.
By agreeing to implement the critical corporate reforms we have supported for several months, Dick Parsons is making great strides toward enhancing shareholder value.
The Icahn Group believes that these actions would immediately narrow the gap between the current share price of Time Warner and the true value of Time Warner?s assets, which the Icahn Group believes is significantly higher,
I think you would now agree that this would have achieved a far superior result for stockholders,
Given the fact that, despite its exceptional assets and a generally favorable operating environment, the company's stock price has underperformed significantly since 2002, we believe the time for steps to make the board and management more accountable are long overdue,
In life and in business, there are two cardinal sins,
In 2008, people who invested in hedge funds needed capital badly, but many of the funds would not return their money. However, I gave money back to any investor who requested it. It was the bottom of the market and a pretty tough time.
Doing this AOL deal is on the way, but not enough, to enhancing shareholder value at Time Warner, ... It proves my point that there is a great deal of unrealized value here. The best investment the company can make is in their own stock at this time.
Mutual funds are becoming more attuned. If you have the capital to hold out, you will win in the end.
It is my belief that, if the proper partner were allowed to have control of AOL, shareholder value would be much more greatly enhanced than through a half-hearted joint venture that might only serve the purpose of entrenching management.
is greatly undervalued and that the company is in need of a major restructuring.
In life and business, there are two cardinal sins, ... The first is to act precipitously without thought, and the second is to not act at all. Unfortunately the board of directors and top management of Times Warner already committed the first sin by merging with AOL, and we believe they are currently in the process of committing the second; now is not a time to move slowly and suffer the paralysis of inaction.
I have never called Dick Parsons a moron. I don't think Dick Parsons is a moron. Nothing could be farther from the truth.