Yahoo is another one of those companies that frustrates Ichan because he feels it’s not being run in the best interests of the shareholders. And that sets him off.
On his website he writes, “What we’ve really seen over the last three or four years is greed gone wild, and now we’re paying the price for it in a monster hangover.
"America’s corporations need to be run more efficiently or tax revenues will continue to fall far short and we will be even more in hoc to foreign lenders. Inefficiency and mismanagement on a colossal scale is causing our corporations to lose their economic hegemony in the global marketplace every day.”
”We have to make managements accountable or we’re going to lose our heads,” Icahn adds on Fast Money. “We’re really on our way down now,” and something must be done.
Ichan suggests joining him and demanding that Washington change laws to better address the needs of shareholders. Right now he feels it's far too easy for boards to act in their own interests and leave stock owners, "holding the bag."
Icahn goes on to tell a funny story about EBIDA. (It’s a measure of earnings that adds back some items to the net income number.) Well Ichan uses EBIDAT - earnings before insurance, depreciation, amortization and theft. Leave it to Icahn!
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Trader disclosure: On Sept 19, 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 (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK); Finerman's Firm Owns (WFC) Puts; Finerman's Firm Owns (BIIB) Calls, (DNA) Calls; Finerman's Firm Is Short (BBT), (IYR), (IJR), (MDY), (SPY), (IWM); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (ETFC); Najarian Owns (NOK) And Is Short (NOK) Call; Najarian Owns (RIMM) Call Spread
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