Carl Icahn news stories on Newser

Icahn Makes $10.2B Bid for Clorox

Fri, 15 Jul 2011 09:22:28 CDT

Carl Icahn is offering to take Clorox private in a deal that values the consumer products maker at about $10.2 billion. The billionaire investor’s firm has proposed paying $76.50 a share for Clorox, which, in addition to cleaning products, makes Hidden Valley salad dressing and the Burt's Bees...

Two Gamblers Take NJ Casino for $11M

Rob Quinn — Wed, 08 Jun 2011 03:35:00 CDT

The balance sheet of Atlantic City's Tropicana Casino has taken a pounding from a pair of high rollers who won more than $5 million each just 6 weeks apart. A blackjack player beat the casino for $5.8 million in April and a craps player won $5.3 million last...

Zuckerberg, 15 Other Tycoons Vow to Give Away Fortunes

Rob Quinn — Thu, 09 Dec 2010 06:00:00 CST

Facebook founders Mark Zuckerberg and Dustin Moskovitz, the youngest billionaires in America, have become the youngest billionaires in history to pledge to give away most of their money. The pair are among 16 billionaires who have recently signed the "Giving Pledge" organized by Bill Gates and Warren Buffett, the Wall...

Hedge Fund Managers Rake In Record $25B

Harry Kimball — Thu, 01 Apr 2010 09:42:58 CDT

Betting correctly that the federal government would not let more banks fail after the cruel denouement of 2008, hedge fund managers engineered a record payday for themselves in 2009. The top 25 brought in $25.3 billion, topping 2007’s record by a healthy margin, and the $4 billion taken in...

Mega-Lender CIT Files Chapter 11

M. Morris — Sun, 01 Nov 2009 16:43:00 CST

CIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to allow CIT, which reported $71 billion...

Taxpayers Must Become Activist Investors: Icahn

Clay Dillow — Thu, 16 Apr 2009 11:05:23 CDT

Barney Frank was right when he said a retention bonus is “a nice word, it turns out, for extortion,” writes Carl Icahn for the Huffington Post. “Very few managers are irreplaceable, especially in this economy”—so why do they get paid extra to stay with a company they've run into...

Icahn Stock Grab May Signal New Yahoo CEO

Neal Colgrass — Fri, 28 Nov 2008 18:54:45 CST

Corporate raider Carl Icahn bought about $65 million in Yahoo shares this week, sparking AllThingsD blogger Kara Swisher to speculate that an "Icahn-friendly" CEO is on the way. Icahn's purchase, likely an attempt to recoup the $900 million he lost on his Yahoo stake this year, points to two former...

Hedge Fund Selloffs Behind Swooning Dow

Clay Dillow — Fri, 07 Nov 2008 09:25:14 CST

Hedge funds are increasingly to blame for the swooning Dow, the Wall Street Journal reports, as demands from investors to withdraw funds have sparked a securities selling frenzy in recent days. The rush to withdraw comes as investors—endowments and pension funds as well as wealthy individuals—see other investments...

Market Meltdown Reshapes Forbes Rich List

Clay Dillow — Fri, 10 Oct 2008 12:15:01 CDT

The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as the...