VW jolt not enough to end Icahn trucking nightmare

September 6, 2016

The investor's 20 pct stake in Navistar got a boost from the troubled U.S. manufacturer's partnership with the German giant. Five years agitating for change has yielded nothing for Icahn or fellow activist owners. The stock needs to rise by half again just for him to break even.

The Exchange podcast: Rise of shareholder activism

March 10, 2016

Hedge fund manager Jeff Gramm pops over to Times Square to discuss his new book, "Dear Chairman," which chronicles eight decades of pushy investing from Benjamin Graham and Warren Buffett to Carl Icahn and Dan Loeb, and what this history means for markets now and in the future.

Amazon could eventually face a Xerox moment

January 29, 2016

The online retailer is growing rapidly, while the tech icon has faded fast. But both companies pair businesses that don’t fit together. Activist Carl Icahn persuaded Xerox to split off its more promising assets. If he’s still around, a similar move might someday work for Amazon.

AIG makes late push toward mediocrity

January 26, 2016

The mega-insurer unveiled plans to sell businesses, slash costs and return $25 bln to shareholders. That’d be a lot for most companies under siege from an activist like Carl Icahn. It’ll only get AIG to a subpar return on equity of 9 pct. This breakup story has further to go.

Icahn Xeroxing the HP breakup playbook for Xerox

November 24, 2015

The activist took a 7.1 pct stake in the faded technology icon, which appears to be in a state of permanent restructuring. The $10 bln copier maker has some decent assets inside a disappointing whole. Finding buyers for some, and milking others for cash, looks logical.

Dismal AIG earnings add fuel to Carl Icahn’s ire

November 3, 2015

The activist wants the insurer to break up and cut costs. AIG boss Peter Hancock is pledging to do the latter. But a $231 mln Q3 loss emphasizes just how much work the company still has to do to get shareholders on board. A carve-up may be painful, but it’s not off the table yet.

AIG’s post-crisis babying days are over

October 28, 2015

Carl Icahn has delivered the $80 bln insurer a rude awakening. The pushy investor isn’t satisfied with CEO Peter Hancock’s steps to boost performance and wants the company to split and shed its systemic tag. Say goodbye to any lingering sympathy for AIG’s near-death experience.

Icahn takes $150 mln of activism to political realm

October 22, 2015

The investor wants to help U.S. companies bring back $2 trln of overseas cash in return for a reduced tax that will fund infrastructure. A massive so-called super PAC will back like-minded candidates in 2016 elections. The idea makes sense, but a longer-term fix would be better.

Hertz gears up for another financial spin

August 21, 2014

Carl Icahn is the latest to buy into the struggling $14 bln car rental firm. Over nearly a century, automakers GM and Ford, an airline, a 1960s conglomerate, private equity and the public have owned Hertz. It’s a perennial investor plaything. Maybe Uber could even be next.

Discounters’ $20 bln deal may spark M&A price war

July 28, 2014

Dollar Tree has found more than enough savings to cover the 23 pct premium to be paid to Carl Icahn and other Family Dollar investors. As a percentage of revenue, though, the synergies are relatively low. That may leave room for sector giant Dollar General to lob in a bid.