Shares of Motorola, Inc. (NYSE: MOT) ticked up today, perhaps on reports that shareholder Carl Icahn will launch another attack on the company's management if its results don't improve. He told the Financial Times that "There is value there, and if that value doesn't manifest itself I, as an activist, would think very seriously about coming back."
Back in May, Icahn was rebuffed in his quest for a seat on the company's board of directors. Icahn still owns about 3% of the company and remains displeased with CEO Ed Zander -- the two traded barbs in the media earlier this year.
In the wake of a disappointing investment in WCI Communities, Inc. (NYSE: WCI), Icahn may be getting some swagger back with the success of his investment in BEA Systems, Inc. (NASDAQ: BEAS).
Icahn's last battle with Zander was fun to watch, even if it didn't lead to the desired results. I'd love to see a reprise.
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Reader Comments (Page 1 of 1)
11-06-2007 @ 9:29PM
JOSEPH W.HOLMES said...
I have been waiting ten years for this company to
reach the share price it was when I bought it.I am
still a thousand dollars short.The board of directors
holds the key.They need to fire Ed Zander then all
the board of directors should resign. With new leadership, new board of directors this company could be number one again. They have sat there
which deprived their brain oxygen. Ever small company that has began in this field has blown right past Motorola. This company was the gold standard in mobile phones. When faced with a challange they folded but did not leave the table.
JOSEPH W. HOLMES