Quick announcement: People totally misunderstood my article on Warren Buffett yesterday (I am intentionally not linking to it) regarding various points. Some people accused me of being an ideologue. I stated very clearly in the beginnning of the article that I support tax increases on the upper class as part of a package which includes cuts to reduce the budget deficit. In a post last week, I criticized the GOP for not accepting Obama’s $4 trillion deficit reduction package, because they ideologically opposed any tax increases, which I viewed as childish and ideological. If the GOP had accepted the package US treasuries would not have been downgraded by S&P (of course, S&P might have made a mistake and read the $4 trillion as $4 million and still downgraded us). Not sure how that makes me an ideologue. Many people find it hard to criticize their hero/ role model favorite politician etc., and I think that is why the article received so much criticism (and views as well).
I try to stay apolitical as much as possible on this site (I get much more into politics on Twitter).
Without further to do, some interesting commentary from Carl Icahn on corporate Governance, and Google’s $12.5 billion bid for Motorola Mobility.
Billionaire Carl Icahn talks about Google Inc.’s plan to acquire Motorola Mobility Holdings inc. for $40 a share in cash and Icahn’s role as a Motorola stakeholder. The shareholder activist, having invested about $3.05 billion in Motorola Inc. common stock and successfully lobbied the former company to spin off its mobile-phone business, may be close to breaking even on the overall bet, according to regulatory filings. Icahn’s holdings in Motorola Mobility and its sister company, Motorola Systems Inc., may be valued at about $2.9 billion as of today, filings show. (Source: Bloomberg)
Icahn commented that “I think it’s a good deal for both sides,” and “Google got a pretty good deal. Google is going to have a protective patent portfolio. They are really buying a lot of good stuff. They are getting the patent portfolio relatively cheaply.”
“It was a good payday from Friday to Monday. We wouldn’t have been able to do this if you hadn’t had that spin off. I don’t think anybody would have bought the whole company. Google made a good purchase. Every once in a while you see a no brainer.”
Carl Icahn on FBN talking more about the deal:
Carl Icahn: Country doesn’t have good corporate governance