Let’s See If I Understand This Correctly
Bill Quick

Carl Icahn stock proposal on ballot for Apple shareholder meeting – latimes.com

Investor activist Carl Icahn has submitted an advisory proposal asking Apple to increase the size of its stock buyback program in 2014 to $50 billion. 

So, Bazillionaire Icahn’s wealth-making strategy is to buy enough stock in big companies to be able to force them to buy back his stock at inflated prices, guaranteeing him an extortionate profit?

Nice work if you can get it.

Gotta say I enjoyed watching Mike Dell kick the old vulture’s ass recently.  I don’t think he could have muscled Steve Jobs, either, but Cook is no Steve Jobs.

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Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.


Let’s See If I Understand This Correctly — 2 Comments

  1. When I was younger I supported a free hand for corporations to operate as they wished (within broad bounds of avoiding fraud and other malum in se crimes). In particular, the stockholders should be free to select whatever board members and executives they wished and to steer the company as they wished. So long as everything was above-board and every stockholder had his chance to vote, the system was operating as it should.

    No longer. The more I learn about how executives and boards are in bed with each other, and the way in which the same names appear on the boards of many different corporations, and pay-to-play government deals, and sleazy stockholder vote tricks, and influencing legislators and regulators to turn a blind eye or to set up barriers to competition … well, the more I learn about large corporations, the more I think there should be no large corporations. Hack them apart until the largest has a thousand people.

    Same goes for government, by the way. They’ve gotten too big, too powerful, and too full of themselves. Hack them apart until the largest has the size, scope, and power of a small-town city council.

    How to accomplish that? Beats me. I’m hoping for a world-wide catastrophe, like an extremely virulent plague or a big asteroid.

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