Muted response: As the clock ticked past Facebook’s scheduled open, Nasdaq stayed mum on the technical glitches that delayed trading in the social media company’s stock by 28 minutes. The resulting chaos lasted hours, causing confusion over who had bought and sold how many shares at what prices—and leading to about $115 million in losses Read More
Seventeen very rich families added their names to the list of tycoons who’re the majority of their fortunes to charity via Warren Buffett and Bill and Melinda Gates’ Giving Pledge. Good for them! Whatever they did to amass all that money, all is forgiven.
It had been a while since we checked in on the doings of billionaire corporate raider (but also philanthropist) Carl Icahn, so let’s catch up with Far Rockaway’s favorite son.
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Mr. Icahn’s efforts to take over Lion’s Gate, the company that makes Read More
Billionaire Far Rockaway native and CapsLock enthusiast Carl Icahn is now facing a lawsuit from indy studio Lions Gate Entertainment. Lions Gate says Icahn denounced a merger between Lions Gate and fellow studio Metro Goldwyn Mayer so that he could make a bigger profit on an eventual deal.
Carl Icahn, Far Rockaway’s favorite billionaire, announced today that he’s offering to buy Metro-Goldwyn-Mayer senior debt from the studio’s creditors at 45 cents on the dollar with the proviso that they vote against a merger between MGM and Spyglass Entertainment. If the debt deal went through, Icahn would become one of the biggest creditors Read More
Billionaire activist investor, Far Rockaway native and track-and-field stadium namesake Carl Icahn says that the board at Lions Gate Entertainment has conspired with shareholders to hurt his chances at implementing changes at the company.
Lawyers for Icahn are saying that Michael Burns, vice chairman of Lions Gate’s board colluded with investors to dilute Icahn’s Read More
Financier and corporate raider Carl Icahn has been after stock in Lions Gate Entertainment for years. In a new legal claim Icahn and 8 other plaintiffs filed in New York County in late July, the current Lions Gate board of directors is accused of facilitating “an unlawful sham transaction.” The claim states that Read More
Lights! Camera! Icahn!
It was only a matter of time before Hollywood was on the receiving end of some old-school corporate Kick Ass. We speak of the arrival of Carl Icahn as hostile bidder for Lionsgate Entertainment, the studio that released the teen superhero movie that led the box office when it opened two weekends Read More
Last November, after three years of writing about magnificently overpriced New York residential real estate, I moved to the Wall Street beat. It is sober and civilized by comparison. What I feel nostalgic for isn’t the real estate itself. Even though it’s fun to visit cosmic Manhattan homes—like the hand-built third floor of the Plaza, Read More
The covers of the Wall Street Journal and the New York Times‘ business section today both have huge stories on Wall Street pay. And they look very different.
The Times story, “Pay of Hedge Fund Managers Roared Back Last Year,” says that the country’s top 25 hedge fund managers made $25.3 billion last year, Read More
