Scroll down to the spreadsheet at the bottom to see the thousands of people this animal has impacted in a negative way
http://hedgeclippers.org/hedgepapers-no-30-the-dangerous-deeds-of-carl-icahn/
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He acts and gets away with decisions like he has 50.1% control of these companies when he only has 3% to 10% voting power. I don't get why so many ceos and boards bend over for him.
Xerox returned over 90% of cash flow to stock repurchases and dividends in 2018. Xerox is just investing in share price. What a waste of money.
I will admit that I find all this fascinating and terrifying at the same time. Yes, I know this is “business as usual”, but just like the healthcare industry is profit-driven and accountable, the document imaging industry is no difference. As someone who doesn’t play the stock market (oh, poor me for not “winning” with having Icahn in my portfolio), this is my first experience being on the inside and getting effed by people who just want to make a buck, no matter the carnage.
The sickening thing is that Icahn already has enough money. Willing to bet his shareholders do, too. But is it ever enough? At what point do your grow a conscience and say “enough”? It’s ship like this that makes me hate capitalism.
And you ding-dongs are still all about hanging on till you get that 2-week severance. Have fun looking for a job is when you don't have one along with your non-transferable skill set.
And no worries about the upcoming recession either- you're special.
The problem is, Carl Icahn has a history of returning value to shareholders. You need the institutional investors to revolt, but so far they haven't. Now Xerox has a climbing share price to go along with a decent dividend. In truth a lot of the investors may have wanted out of Xerox a long time ago, but didn't want to take the loss. Icahn presents them with an opportunity to get out when the company is sold and at a profit.
As an employee, you have to admit the sad reality that the greedy world doesn't care about you. They invest to make money, not to care about the people. Icahn makes them money. They will convince themselves that the employees will be OK.
If I wasn't concerned about Xerox before. That article did the trick
Thank you for sharing this.
Share it!!! Thank you for this insight! Let’s keep it rolling!
Carl Icahn is Thanos. He's just misunderstood.
Wow, that is eye opening. Thanks for the link. I wish we could share it to all the employees who are now suffering under his reign. I wish there was something we could do besides leave.