It was only a matter of time before the backsplash from the Lac Megantic disaster was going to splatter on folks beyond MMA boss Fast Eddie Burkhardt.
This story tells you that the throngs of litigation attorneys hovering over the carcass of Fast Eddie have Big Bill Ackman in their sites.
This will go on forever on the basis of the "deep pockets" syndrome. That's where the litigation hounds take off after the prey that has potentially the most wherewithal in terms of providing the juiciest pay-out.
Now that the media have drawn the connections between Big Bill and Fast Eddie, everything even remotely connected to Ackman and Pershing has a big fat target on its back.
Showing posts with label Bill Ackman CPR. Show all posts
Showing posts with label Bill Ackman CPR. Show all posts
Wednesday, July 31, 2013
Wednesday, May 23, 2012
Ackman's loot 'n plunder strategy off to roaring start at CP Rail
And the guy hasn't even done anything yet!
When Bill Ackman and his Pershing Square gang started buying CP last September the shares were trading under $50.
Today they're close to $80.
I'm thinking Ackman should cash out now. After all, he's got about a 50% return on his billion plus dollars in a mere eight months.
And he hasn't even got to the loot and plunder part of the program!
It's going to be a little tougher from here on in. The workers who keep those trains running are on strike now, which is a very tempting time for a bold entrepreneur to stake his claim as a visionary. Teach those spoiled workers a lesson, just like Mr. Pocklington did with those lazy over-paid Gainers workers back in the day.
The "financial analyst" crowd loves that kind of stuff. In today's Globe and Mail you've got David Milstead making the case for hopping aboard CP.
But before you hop aboard, keep a couple of things in mind.
Firstly, the market has already rewarded the share price for most of the wonders Ackman has promised to bestow on CP, even though he hasn't done anything yet.
Secondly, that striking work-force has got some old-school attitudes about workers dignity and all that hogwash. They won't be in the mood to be raped by some hedge-fund smarty-pants.
And that's where the Ackman miracle will hit the wall.
You can't just move that railroad to Mexico or China.
When Bill Ackman and his Pershing Square gang started buying CP last September the shares were trading under $50.
Today they're close to $80.
I'm thinking Ackman should cash out now. After all, he's got about a 50% return on his billion plus dollars in a mere eight months.
And he hasn't even got to the loot and plunder part of the program!
It's going to be a little tougher from here on in. The workers who keep those trains running are on strike now, which is a very tempting time for a bold entrepreneur to stake his claim as a visionary. Teach those spoiled workers a lesson, just like Mr. Pocklington did with those lazy over-paid Gainers workers back in the day.
The "financial analyst" crowd loves that kind of stuff. In today's Globe and Mail you've got David Milstead making the case for hopping aboard CP.
But before you hop aboard, keep a couple of things in mind.
Firstly, the market has already rewarded the share price for most of the wonders Ackman has promised to bestow on CP, even though he hasn't done anything yet.
Secondly, that striking work-force has got some old-school attitudes about workers dignity and all that hogwash. They won't be in the mood to be raped by some hedge-fund smarty-pants.
And that's where the Ackman miracle will hit the wall.
You can't just move that railroad to Mexico or China.
Saturday, May 19, 2012
Giant killer...
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.
"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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