Charlie Gasparino isn’t a fan of Carl Icahn’s trading style. Gasparino says if Icahn tried to arrange a dinner with Steve Jobs he’d get ditched. What’s more though, Gasparino says that Icahn is just using Bloomberg and CNBC to promote his trading positions, whether it’s shares of Netflix or Apple. If Icahn doesn’t like what one network says about his trades then he goes to the other one. Moreover, Gasparino questions people calling Icahn an investing “icon”, saying that Icahn’s investing is really just greenmail.
Greenmail or greenmailing is the practice of purchasing enough shares in a firm to threaten a takeover, thereby forcing the target firm to buy those shares back at a premium in order to suspend the takeover. The term is a neologism derived from blackmail and greenback as commentators and journalists saw the practice of said corporate raiders as attempts by well-financed individuals to blackmail a company into handing over money by using the threat of a takeover.
I wonder if Carl Icahn will go on Fox Business News with Charlie Gasparino to discuss his position in Apple? I’d like to see it. Come on Carl, at least call in. You owe it to Charlie since you’ve gone on Bloomberg and CNBC.