Thursday, November 03, 2005

Parsons vs Icahn

Reuters just posted this interesting article

Here's a quick Summary-

Chief Executive Richard Parsons on Thursday said he sees billionaire investor Carl Icahn as a short-term investor seeking to jack up the stock price and sell it off..."His goal is to get the stock price up to a point where he can sell it,"

"He's articulated what all of us are feeling," Parsons said. "He thinks (the stock) is undervalued. He's right. (But) the remedy he has proposed is not likely to accomplish what we both want," Parsons said.

Time Warner is continuing to be sold off now, down 22 cents from opening price last time I checked. It looks like this could cause further turmoil on the board if Icahn gets a spot, while his push for an outrageous share buyback was met halfway (which was probably his goal in the first place) this extra money which should be used to pay off debt could cause them to be dropped to 3 ratings above junk level. Besides that AOL also made an acquisition today of musicnow, with the purchaser almost always taking a hit. With this newly found opposition between Parsons and Icahn I'm more tempted to dump TWX at $18.50.


At 12:08 PM, Blogger Karen said...

This post has been removed by a blog administrator.

At 5:33 PM, Blogger Salbert said...

I hope all goes well.

At 8:21 AM, Blogger Investing Monkey said...

There is no Hope when it comes to the stock market.

At 8:46 PM, Blogger Salbert said...

Oh well, I forgot... I know that there is no loyalty either. Everyone learned that in the 2000 tech bubble.

At 10:28 PM, Blogger Wes said...




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