Final Note

Ackman out at JCPenney, Icahn investing in Apple?

Kai Ryssdal Aug 13, 2013
HTML EMBED:
COPY
Final Note

Ackman out at JCPenney, Icahn investing in Apple?

Kai Ryssdal Aug 13, 2013
HTML EMBED:
COPY

This final note on the way out, which comes with the observation that it’s been a busy day for what’re commonly called “activist investors.”

First, a guy named Bill Ackman, who runs a hedge fund called Pershing Square Capital Management, was squeezed off the board of JCPenney this morning. It’s a kind of inside baseball thing involving who’s gonna actually run the struggling retailer, but it does get me to the juicy bit of today’s activist shareholder news.

Carl Icahn — activist-shareholder extraordinaire — tweeted this this afternoon:

 

 

  

 

 

Icahn apparently wants the company to buy back more of its stock, which — on the news that Icahn’s in the game — rose almost 5 percent today.

 

 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.