Corporate Raider Carl Icahn Makes Cheniere, like Chesapeake, Worse

It befuddles us why anyone thinks Carl Icahn is such a genius. He invests just enough money in a company to get his own people elected to the board of directors, and then the board fires the CEO and fires thousands of people working at the company in hopes of boosting the stock price by making the company appear to be profitable on paper so Icahn can turn around and sell his stake in the company at a profit. We call it disgusting and immoral. Wall Street investors call it just another day at the office (never looking the people in the eye they’re responsible for screwing out of a job). But with Icahn and his investments, they often don’t go as planned. Instead of the stock price going up after he fires the CEO and a bunch of people–the stock price goes down instead. Icahn makes companies worse than before he started his meddling. It happened with Chesapeake–now a whisker away from bankruptcy. Now it’s happening with Cheniere Energy, the LNG export company located along the Gulf Coast…

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