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FEB 13, 2014 - The Economist

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Corporate governance: Anything you can do, Icahn do better

TIM COOK’S nightmare is over, but John Donahoe’s has just begun. On February 10th Carl Icahn, the godfather of activist shareholders, ended his campaign to get Mr Cook, the boss of Apple, to return some of its $160 billion cash mountain to shareholders through share buy-backs. Mr Icahn declared victory, although Apple is not handing back as much of its cash as he had wanted. His next target is eBay, which he is pressuring to spin off PayPal, its online-payments business. Mr Donahoe, eBay’s boss, has told Mr Icahn to get lost, but surely knows he cannot brush off the pugilistic investor so ... Read More

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