Stock Quotes Help Network - Stock Trading

Icahn takes aim at Motorola's Zander

Icahn takes aim at Motorola's Zander


http://biz.yahoo.com/rb/070501/motorola_icahn.html?.v=6
Icahn, who said he was seeking one board seat and not control of the company, used the letter to air his most pointed criticism yet of Zander since late January when he began his quest for a board seat. The vote is scheduled for May 7.

Citing a Journal report that Zander was apt to say that he loved his job, but hated his customers Icahn said the comments sounded like "something straight out of 'Alice in Wonderland."'

Icahn said Motorola, which has seen its shares lose about a third of their value since mid-October amid weak handset sales, had been "shaken by leadership setbacks that ... could have, and in fact should have, been averted."

Motorola shares were up 28 cents or 1.62 percent at $17.71 in early afternoon trade on the New York Stock Exchange.

The company fought back by repeating its opposition to Icahn and questioning how he would balance the trading restrictions a Motorola directorship would bring with his responsibilities to his own investors.

posted by Famous Quotations @ 2:36 PM