The Globe and Mail is over the top with its reportage on Bill Ackman's "coup" at Canadian Pacific Railway.
"Corporate Canada has never seen the likes of Bill Ackman, a brash hedge fund manager..." the lead story in the business pages informs me.
Truth be told, corporate Canada has seen brash hedge fund managers fuck over the locals lots of times. Nothing new about the Ackman assault on CPR.
That this hedge fund twat can rattle the cage of one of Canada's premier corporations says a lot about how deficient our regulation regimen is.
It doesn't say much about anything else.
Ackman can pull this off by taking a relatively small position in CP stock and then talking the talk about "shareholder value".
Ackman's track record shows that he's only interested in shareholder value as long as it's about the shares he just bought. He's not a manager and he's not a visionary.
His vision for the CPR doesn't extend beyond goosing the share price just enough so he can get out at a tidy profit.
If he has to sow a little mayhem to make that happen, well, that's just the way he operates.
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