Tuesday, January 30, 2007

Icahn's Radar

Carl Icahn is at it again - or so it seems. The activist investor is back on the front page of most finance sites because he has announced that he's vying for a seat on Motorola's board.

Icahn and his entities collectively own 1.4% of the business.

Whether or not Icahn is successful is yet to be determined, but investors applauded the prospect of his involvement - the shares were up over 6% today.

Many remember Icahn's last foray into headline making activism, when he pushed Time Warner to spin off its cable division and buy back stock.

Icahn is hoping that Motorola will buy back its stock given its hefty net cash levels. We'll see what happens.

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