Fingerprints matching those of legendary activist investor Carl Icahn have been found on the neck of Chairman and former CEO of Motorola Inc. (NYSE: MOT) Ed Zander. Metaphorically speaking of course.
But Ol' Carl's gotta be feeling pretty feisty after the company, of which he owns more than 4%, reported an 84% plunge in fourth quarter profits.
Recently-appointed CEO Greg Brown has said he believes it will take longer than expected for the company's mobile devices business to recover, BloggingStocks' Eliza Popescu reported earlier. The company also posted a bleak outlook for the first quarter.
The moral of the story is clear: When an investment legend like Carl Icahn says a CEO needs to be sent packin' to devote more time to his family and art collection, investors best listen up. Icahn's efforts to gain control of the company's board and oust Zander and Co. were rebuffed by institutional shareholders. They must be feeling pretty stupid right now.
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Reader Comments (Page 1 of 1)
1-23-2008 @ 12:38PM
roudy11z said...
Zac, You have again "called it like it is"so to speak.I say again that its good to have a blogger like yourself. RoudMan
1-23-2008 @ 9:59PM
Paul Jones said...
Zac, Put those shit for brains in there place. I am a small invester depending on you. Don't let me down!