Free Republic

If Bill Gross of Pimco dumps all U.S. bonds in his portfolio and Carl Icahn returns $1.6 billion to his investors, one might be a little concerned that the proverbial sh*t is going to hit the proverbial fan soon...any thoughts?

President Barack Obama's plan to limit executive pay to $500,000 a year -- plus restricted stock -- for institutions that get government funding is understandable. Still, salary caps are only a stopgap measure that fails to address the root of the problem. The real problem is that many corporate managements operate with impunity -- with little oversight by, or accountability to, shareholders. Instead of operating as aggressive watchdogs over management and corporate assets, many boards act more like lapdogs. Despite the fact that managements, albeit with some exceptions, have done an extremely poor job, they are often lavishly rewarded regardless...

Yahoo announced today it has reached an agreement with activist investor Carl Icahn that will settle their battle over control of the Sunnyvale-based Internet giant. The agreement will place Icahn on Yahoo's Board of Directors, and two other seats will be filled based on a list of nine candidates recommended by Icahn. Eight members of Yahoo's current Board of Directors, including Chief Executive Jerry Yang and Chairman Roy Bostock, will stand for re-election at the annual shareholder's meeting Aug. 1. As part of the agreement, Robert Kotick will not stand for re-election at the annual meeting. The moves expands Yahoo's...

Carl Icahn, the billionaire investor best known for shaking up public companies, says he is very concerned about the Democratic frontrunner, Barack Obama. “I personally think he would be a terrible president,'' Icahn told investors in New York, according to wire reports. Icahn thinks a President Obama would increase spending dramatically, something he says “the country can't afford right now.” An Obama spending spree and the resulting tax hikes to pay for it would kill the dollar and result in higher interest rates, Icahn warned. “I don't think Obama really understands economics,'' Icahn said. Obama also would take office with...

WITH the fall comes the harvest. Or at least that’s what Richard D. Parsons and his top dogs at Time Warner have hoped for in autumns past. But regardless of how much the chief executive and his allies regroup, retool and reorganize their sprawling media empire, the stock market just yawns. Every morning when they look at Time Warner’s ticker, it’s Groundhog Day. Carl C. Icahn seems to be the only investor with a modicum of enthusiasm for the stock. Last month, he disclosed plans to form a new fund to scoop up more Time Warner shares so he could...

So much for the suggestion that running multimillionaire candidates who can self-finance their campaigns will rid politics of the "influence of money" factor. Sen. Jon Corzine... whose approach to politics has always been "you have to give if you want to receive" suddenly finds himself embroiled in a potential scandal involving both money and sex. Judging by his reaction thus far, Corzine believes his best bet is to stay close-mouthed behind an avowal of his right to privacy... lends an added air of someone trying to hide something. And since Corzine is trying to run as the Mr. Clean..., the...

DALLAS (Reuters) - The showdown between Blockbuster Inc. (BBI.N: Quote, Profile, Research) Chairman John Antioco and corporate raider Carl Icahn comes to a climax on Wednesday when shareholders must choose who will shape strategy at the United States' largest video rental chain. Shareholders will vote on whether to oust Antioco and two company-backed candidates from the board of directors, in favor of Icahn and two others, at the company's annual meeting in Dallas, Texas. The public battle between Antioco and Icahn has grown fierce in recent days as each side called the other ill-equipped to stem the company's slide in...

PHILADELPHIA (Reuters) - XO Communications Inc., the telephone company controlled by billionaire investor Carl Icahn, said on Friday it has offered more than $700 million to acquire bankrupt high-speed communications company Global Crossing Ltd. Singapore Technologies Telemedia already has an agreement to pay $250 million for a 61.5-percent stake in Global Crossing, which filed for bankruptcy protection in January 2002 under a massive debt load, a glut of high-speed network capacity, and slim demand. The bankruptcy court must rule on the deal with Singapore Technologies before any new bids for Global Crossing can be considered. IDT Corp., a telecommunications...