Sunday, 21 September 2014
Last updated 2 days ago
Oct 3 2013 | 3:20am ET
Carl Icahn had his long-awaited dinner with Apple CEO Tim Cook this week, continuing his push for a huge share buyback.
Icahn told his followers on Twitter than he and Cook "had a cordial dinner" on Monday night, during which "we pushed hard for a 150 billion buyback." Icahn added that the two "decided to continue dialogue in about three weeks."
On Tuesday, Icahn made clear what his side of the dialogue would sound like: Further agitation for a $150 billion buyback program, financed by debt.
"I feel very strongly about this," Icahn told CNBC. "I can't promise you the stock will go up and I can't promise you they will do the buyback. But I can promise you that I'm not going away until they hear a lot more from me concerning this."
"It's a no-brainer and it makes no sense for this company with their multiple being so low not to do a major, major buyback," he continued. "And there's another reason that I mention, that I think might go forgotten: the fact that you can borrow money so cheaply today. I don't think we are going to see this again."
Icahn first publicized plans to dine with Cook in August, when he also announced that he had taken a "large position" in the company. He boosted his stake in September.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.