The Players: Bill Ackman, founder and CEO of Pershing Square
Capital, a hedge fund with about $8 billion in assets; Carl Icahn, another
hedge-fund manager, and old school Wall Street "raider," who has led
successful takeover of dozens of major corprorations and is personally worth
close to $15 billion.
The Opening Serve: Icahn called in to Bloomberg TV on
Thursday to criticize Ackman for his very public short selling of the health
supplement company Herbalife. (Ackman has called the company "a pyramid
scheme" and has a sizable bet riding on his belief that it will soon be
exposed for what it is and go under.) On Bloomberg TV, Icahn said Ackman's
position was "disingenuous" and that Ackman was taking a "holier
than thou" attitude about the company that is built on the multi-level
marketing business model.
The Return Volley: On Thursday night, Ackman issued a press
release saying that Icahn is a good investor but can't be trusted. He defended
his short but also reminded people of a deal the two businessmen once made that
ended with a lawsuit and a lot of hurt feelings. He also called into CNBC
Friday afternoon to continue his defense on national television. That's when the fireworks started. Icahn
himself called in to the show and the two did battle for a full half-hour on
live TV. The billionaires traded barbs, insults, curses—mostly from Icahn,
directed at Ackman and anchor Scott Wapner—all while financial journalists on
Twitter and stock traders watching on TV exploded with delight…..
Read all about it at http://www.theatlanticwire.com/business/2013/01/bill-ackman-carl-icahn-cnbc/61431/
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