This is bad news indeed.
Icahn's interests and Apples interests aren't mutually inclusive. What is best for Icahn is a quick buck. Anytime "activist" shareholders start to steer corporate policy, companies crumble. The bottom line and padding pockets does not necessarily create the best environment for growth and sustainability.
I predict that Icahn will eventually drive Apple down the toilet, should he be interested enough (Dell, anyone?)(Or TWA). Right now he's just manipulating the stock by buying low and demanding that Apple take measures to raise the stock price, thus generating him a nice fat stack of cash. I expect him to pressure Apple to deplete most of it's cash reserves to drive stock price, just long enough for him to cash in big. With each buyback of non voting stock, Icahn will gain more control too. He's exactly the kind of investor you don't want -- the opposite of Buffet, per se. This is the same ******* that wanted to clear Apple's management in 2009. The same ******* that wanted Apple to sell ****** devices at discount retail chains. What he did with TWA was downright ******.
He's going to be the demise of Dell, too.
I have little respect for the guy.
Icahn's interests and Apples interests aren't mutually inclusive. What is best for Icahn is a quick buck. Anytime "activist" shareholders start to steer corporate policy, companies crumble. The bottom line and padding pockets does not necessarily create the best environment for growth and sustainability.
I predict that Icahn will eventually drive Apple down the toilet, should he be interested enough (Dell, anyone?)(Or TWA). Right now he's just manipulating the stock by buying low and demanding that Apple take measures to raise the stock price, thus generating him a nice fat stack of cash. I expect him to pressure Apple to deplete most of it's cash reserves to drive stock price, just long enough for him to cash in big. With each buyback of non voting stock, Icahn will gain more control too. He's exactly the kind of investor you don't want -- the opposite of Buffet, per se. This is the same ******* that wanted to clear Apple's management in 2009. The same ******* that wanted Apple to sell ****** devices at discount retail chains. What he did with TWA was downright ******.
He's going to be the demise of Dell, too.
I have little respect for the guy.
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