Billionaire Investor Takes Spotlight Away from Carl Icahn as Chief Yahoo Hater
Billionaire Investor Takes Spotlight Away from Carl Icahn as Chief Yahoo Hater
Posted 07/31/2008 at 9:23am
| by Paul Lilly
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Tired of all the drama surrounding the future of Yahoo? You're not the only one. Not a week goes by without a new twist emerging in what's to become of the would-be search giant, and billionaire investor T. Boone Pickens has had enough. Aside from having one of the coolest names ever, Pickens also owned 10 million Yahoo shares, all of which he sold at a loss.
Pickens picked up the stock back in May in anticipation that activist Carl Icahn would wage a proxy contest to force Yahoo's board into signing on the dotted line with Microsoft. Tired of waiting, Pickens unloaded all his shares, but not without taking a parting short at Yahoo management.
"I think that Yahoo management was pathetic," Pickens told the San Francisco Chronicle.
It's unclear exactly how much money Pickens lost in the ordeal, but Yahoo stock was selling around $27 per share in late May and has since dropped to around $20 per share. Talk about a costly way to make a point.
Image Credit: Yahoo
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Talcum X
July 31, 2008 at 10:21am
Will be located in the U.P. (That's Upper Penninsula for you coastal peeps) of Michigan...will be called YaDerHey! (little Yupper humor)
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