Xerox Targeted: Why The Icahn Torture Test Continues
Just this week, the most famous and wealthiest activist investor in history -- Carl Icahn -- turned his guns on Xerox.
The questions many ask are:
* What does Carl want?
* Why does a man with $35 billion continue in the hunt for wealth?
The answers are actually clear to Carl's biographer and one-time neighbor and tennis partner in Bedford, NY:our CEO Mark Stevens.
"Carl always wants the same thing: more!," says the author of King Icahn and CEO of MSCO.com "It's not the money, per se, as much as it is taking it away from those who he perceives to be the enemy: members of the corporate establishment.
"He once told me, in so many words, that 'these people looked down on me when I was a poor nobody growing up in Far Rockaway, NY. Now I want to pour vinegar in their martinis and break their golf clubs.'"
Does Icahn really care about Xerox, its balance sheet or its shareholders? Absolutely not. But he found a soft target and he will play the only game this virtual loner has played so effectively all of his adult life.
And chances are Xerox will pay the price. And drink the vinegar.
Check out King Icahn: Biography of a Renegade Capitalist here: http://kingicahn.com/