The following appears on finance.yahoo.com
By Joe Nocera – (Bloomberg Opinion) — As a general rule, I’m not a big fan of corporations being guided by corporate raiders, a.k.a. shareholder activists. They tend to rely on financial engineering to boost the stock price; cut back on “expenses” like customer service and research and development; and run for the exits when they see the roof caving in.
But Xerox Holdings Corp. may be the exception. The company’s biggest shareholder is the activist of activists, 83-year-old Carl Icahn, who controls around 11% of the stock. The chairman, Keith Cozza, is the chief executive officer of Icahn Enterprises LP, Icahn’s holding company. One board member, Nicholas Graziano, is a portfolio manager with Icahn Capital LP, Icahn’s hedge fund. Another is John Christodoro, a former managing partner at Icahn Capital.