Billionaire investor Carl Icahn, who is trying to win a board seat at Motorola, significantly increased his ownership of the company's stock, according to a document filed with the U.S. Securities and Exchange Commission on Monday. He has bought 59.4 million additional shares, taking a 2.38 percent stake in the company.
In January, Icahn acquired enough shares to take a 1.39 percent stake in the company and notified Motorola's board of directors that he wants to be considered for a seat. Last week, Motorola urged shareholders not to vote for him at the annual shareholder meeting scheduled for May. Icahn's initial proposal for a board seat came just weeks after Motorola had announced disappointing fourth-quarter earnings, as handset prices continued to decline. He wants the company to spend its $11.2 billion of cash to repurchase its shares. Meanwhile, Motorola's management team wants to use its cash to make investments to broaden its product portfolio.
Icahn and those like him were the demon spawn of the 80's deregulation frenzy and are nothing more than a cancer on the free market system. They gain control over businesses they know nothing about and eviscerate them for their own short term profits. In the process costing thousands of people their jobs and undermining the economy in general. This behavior wrecked the airline, retail sales, and numerous other businesses during the 80's and now he is at it again. Ichan couldn't "Manage" to find his butt with both hands if it had bells on it. The best thing the SEC could do is institute a permanent ban this type of corporate vampirism
Google creates an animated doodle that features a boy, a girl, Google's search engine, and a jump rope. But might there be darker, more analytical, more troubling interpretations to this tale?
The Silicon Valley online payments startup grew by 1,000 percent last year and is hopeful it can repeat that level of growth this year. To do that, it's had to move away from its early friends-and-family roots and embrace small businesses.
Chamtech's spray-on antenna uses a nano material to provide a low-power boost to antenna range. The wireless-in-a-can product may some day bring an end to unsightly cell towers.
EnerG2 opens a plant to make an engineered carbon that will improve performance of energy storage devices and make storage for start-stop hybrid cars less expensive.
Carl Icahn
