“A review of your record reveals years of value destruction and strategic blunders which have led us to dub you one of the most dangerous and incompetent executives in America.”
Dan Loeb of Third Point: poet laureate of the acerbic activist letter, such as that 2005 missive to Star Gas. This week, Carl Icahn penned a twist on the genre. He grovelled.
“To be totally clear, this letter is in no way intended as a criticism of you as CEO,” Mr Icahn cooed at Tim Cook, Apple’s chief executive. The point, buried in fulsome praise of Apple’s products, was this: Apple should buy back more of its shares, faster.
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