How many shares did crazy Carl have when Jobs was alive?
I don't know.
My point is that Icahn is a bully, and he wouldn't even consider trying to push Steve around. Hopefully Tim shows he has a backbone so Icahn backs off.
My point is that Icahn is a bully, and he wouldn't even consider trying to push Steve around. Hopefully Tim shows he has a backbone so Icahn backs off.
I don't think it has anything to do with backbone. I think it has more to do with cash. Back in 2009, they had $34b in cash, which would have seemed like a reasonable reserve to maintain for growth opportunities and exclusive purchases/buyouts. In 2010, it grew to $51b, then when Steve died in 2011, it was $82b. At this point, it became clear that they were amassing cash at a far higher rate than they could spend so it was only after Steve that there was any incentive for outside investor looting. By 2012, it was $120b and 2013 is $147b (they spent $10b in share buybacks).
There is a perception with some people that when Steve was at the company, it was in good hands because of the transformation when he came back to Apple and now it's just a money-making conveyer belt. That leads them to give Tim less respect than he has earned but as he's demonstrated many times now, he's a very confident and calm person. When he was called before the subcommittee, he took it in his stride. The people beside him were all sweating and nervous but not Tim.
Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:
He sold his shares in Netflix now that they've turned an $800m profit for him. He contributed literally nothing to Netflix but in 14 months, he made more than Tim Cook has. Tim's getting up at 5am, putting in the hours, managing a company. Icahn is just putting bets down. Icahn's assets are now listed as around $29b. Icahn is 77 so it's not clear what he's going to use it all for. It looks like he'll pass it onto the next generation to control:
Not bad being handed $3b to play around with at the age of 33. Icahn's company deals with over 60,000 employees and primary revenue is from transport and energy. Most of the employees appear to be in Federal Mogul, which Icahn took a majority stake in:
It's all investment and ownership. Buying up the company shares, pushing for the company to generate the profit and then taking the winnings. He'll dump Apple shares as soon as they've paid off just like he did with Netflix.
Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:
That's something I don't really understand. He can buy whatever he wants at this point, as that amount is basically unspendable. Why hurt other businesses in the ongoing process? I really do hate vultures. On the up side, perhaps one day he will donate his beard to science.
Comments
How many shares did crazy Carl have when Jobs was alive?
How many shares did crazy Carl have when Jobs was alive?
I don't know.
My point is that Icahn is a bully, and he wouldn't even consider trying to push Steve around. Hopefully Tim shows he has a backbone so Icahn backs off.
I don't think it has anything to do with backbone. I think it has more to do with cash. Back in 2009, they had $34b in cash, which would have seemed like a reasonable reserve to maintain for growth opportunities and exclusive purchases/buyouts. In 2010, it grew to $51b, then when Steve died in 2011, it was $82b. At this point, it became clear that they were amassing cash at a far higher rate than they could spend so it was only after Steve that there was any incentive for outside investor looting. By 2012, it was $120b and 2013 is $147b (they spent $10b in share buybacks).
There is a perception with some people that when Steve was at the company, it was in good hands because of the transformation when he came back to Apple and now it's just a money-making conveyer belt. That leads them to give Tim less respect than he has earned but as he's demonstrated many times now, he's a very confident and calm person. When he was called before the subcommittee, he took it in his stride. The people beside him were all sweating and nervous but not Tim.
Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:
http://www.reuters.com/article/2013/10/22/us-usa-stocks-netflix-idUSBRE99L1MO20131022
He sold his shares in Netflix now that they've turned an $800m profit for him. He contributed literally nothing to Netflix but in 14 months, he made more than Tim Cook has. Tim's getting up at 5am, putting in the hours, managing a company. Icahn is just putting bets down. Icahn's assets are now listed as around $29b. Icahn is 77 so it's not clear what he's going to use it all for. It looks like he'll pass it onto the next generation to control:
http://www.forbes.com/sites/tompost/2013/05/21/carl-icahn-on-how-to-bring-your-kids-into-the-business/
Not bad being handed $3b to play around with at the age of 33. Icahn's company deals with over 60,000 employees and primary revenue is from transport and energy. Most of the employees appear to be in Federal Mogul, which Icahn took a majority stake in:
http://www.federalmogul.com/en-US/FAQ
It's all investment and ownership. Buying up the company shares, pushing for the company to generate the profit and then taking the winnings. He'll dump Apple shares as soon as they've paid off just like he did with Netflix.
Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:
That's something I don't really understand. He can buy whatever he wants at this point, as that amount is basically unspendable. Why hurt other businesses in the ongoing process? I really do hate vultures. On the up side, perhaps one day he will donate his beard to science.