“We believe that the company should be split,” says Icahn. “Get the hand held business away from the rest of the company because you need good management in it. The hand held business, as I’ve said before, is a great business, but it’s a very arcane business. You need a top person to run that. And that top person has to be brought in.”
Anyone in mind?
“I’m not going to get into that,” Icahn replies. “But we’ve put a slate together and hopefully this time they will listen. I think they’re going in the right direction, now.”
There’s speculation Dell could be a buyer?
"I don’t know about that," replies Icahn. “And I’m not saying whether it should be sold or not sold. That all depends on the price and the deal. That’s something that’s way off and I have no knowledge of that. I think it should be spun-off into a separate company and then see what happens. It’s a great company. (But) a company like this could melt away if they don’t do something very soon.”
For you something is a new CEO?
“Let me make that clear,” replies Icahn, “a new CEO for the handheld business. You need to get the right guy and the right guy isn’t going to want to report to the management there now.”
How about the speculation that you’ve taken a major stake in JC Penney?
“We don’t comment on speculation and rumors,” Icahn says. “I have no comment.”
What has attracted your interest to the retailers in general?
“I think when nobody wants them – you buy them,” Icahn says. “But this isn’t a comment on JC Penney .”
Where do you stand with Biogen?
“We think Biogen is better off sold,” answer Icahn. “I think a lot of these biotechs have to merge with Big Pharma. This is one of them.”
What are your thoughts for investors trying to navigate this market?
“We still have a lot of problems that have to be really dealt with,” Icahn replies. “And many of the problems stem from the fact that managements are sadly lacking.”
> Motorola Shares Up As It Mulls Cell Phone Split-Off
> Motorola Hangs Up On Handsets
> Motorola May Realign to Boost Cell Phone Business
> Icahn Builds Big Stake in J.C. Penney: Report
Got something to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to firstname.lastname@example.org.
Trader disclosure: On Feb.1, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO); Najarian Owns (BIIB), (C), (CSCO), (MCD), (MS), (MSFT), (XLF), (YHOO); Najarian Owns (AAPL) Calls, (GOOG) Calls; Finerman Owns (GS), (M); Finerman's Firm Owns (NMX), (PZN), (RTP), (SUN), (VLO), (YHOO), (TSO), (WMT), (JCP), (SKS); Finerman's Firm And Finerman Own (CROX), (FLS), (HD); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Is Short (CME); Seymour Owns (AAPL), (CSCO), (INTC), (MSFT), (S), (MER), (MBI), (GAF); Seygem Asset Management Owns (CX), (ABV), (FMX)