Posted on 02/20/2016 10:06:05 PM PST by TBP
Billionaire Carl Icahn, who last year produced a video warning of the “danger ahead†for the US economy, may need to focus on fixing his own publicly listed company.
Standard & Poor’s warned Friday that the activist investor’s $6.3 billion holding company was in danger of being downgraded to junk after taking a big hit on energy and commodity bets.
The credit ratings firm placed Icahn Enterprises on watch with “negative implications,†adding there is “at least a one-in-two likelihood that we may lower the ratings within the next 90 days.â€
(Excerpt) Read more at nypost.com ...
Do you really have nothing better to do than to try and attack Trump?
Carl Icahn is a snake. He has ruined many peoples lives.
Nice to see you in good spirits tonight.
With the collapse in oil prices due to the collapse in the world economy, oil entrepreneurs, oil companies, oil drillers, and oil service companies are going bankrupt all over the U.S. and all over the world. Heck, even entire countries are going down the tubes because of this, though many of them deserve it like Venezuela.
Carl Icahn is one of the good guys in my book and it’s too bad he’s in a business that’s in a down cycle right now. I hope he makes it.
And yet, Trump proudly boasts of his support and says he’ll make him Secretary of the Treasury.
And yet, Trump proudly boasts of his support and says he’ll make him Secretary of the Treasury.
Even the richest and most powerful men discover how quickly the Illuminati will push them out of favor if they go against the grain. Icahn endorsed Trump. Now he pays the price.
S&P still has credibility after 2007?
Secretary of Treasury? You’re making it up.
Trump’s Boy here.
I just finished watching, “The Big Short.” Great movie although it left out the reasons why it happened such as Jimmy Carter signing the Community Re-investment Act of 1977.
Icahn is no dummy. He has taken huge positions in CHK, LNG, and FCX as they were on their way down but, like many investors, did not expect the share prices to fall as far as they have. These companies will, however, rebound to levels far in excess what Carl paid for them in a few years, and he will given the management of each a thorough and much needed cleanup.
Nobody wants to buy Icahn’s bonds? I am sure he is not fussed, as he can lend himself a billion or two if he needs it.
Offer made publicly and publicly accepted already, though with if win condition.
“And yet, Trump proudly boasts of his support and says he’ll make him Secretary of the Treasury.”
Carl Icahn knows energy supplies are a commodity the world economy cannot do without for very long. He is purchasing major positions in these companies while their stock prices are at their lows, knowing he will be able to resell them in the not too distant future for huge gains. The credit rating is only a temporary situation which will disappear as the energy stocks rebound along with the prices for oil & natural gas.
Thank you both for clear minded posts. Nearly anyone touching energy is suffering right now, even those playing the short game.
0bama and the Progressives created a bubble that could ruin more than Ichan and the oil business
Is it Standard & Poor’s or Dunn and Bradstreet that’s in the tank for liberal elites?
That's why the Donald wants to use him against China.
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