Leveraging the Gekko: greed doesn't always work as well as advertised, even for Carl Icahn.(HEADLINERS)(Column)

Video Business, September, 2005 by Sweeting, Paul

EXECUTIVE SUMMARY * After getting himself on the board of Blockbuster, Carl Icahn is trying to infiltrate Time Warner for much the same reason--get the company to give a bigger payout to shareholders, namely Icahn. * Icahn believes that the synergy that was supposed to bring big profits to companies such as Time Warner is not working.

The folks at Blockbuster haven't had much to smile about recently, but they must be chuckling as Carl Icahn--now a Blockbuster board member--tries to do unto Time Warner as he previously did unto Big Blue. Having accumulated a significant stake in Time Warner, Icahn is now pressing management to take dramatic steps to boost its stock price. And, as he did with Blockbuster, he's threatening a proxy fight to...

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