Carl Icahn, after a recent activist campagin targeting Motorola, pleaded with institutional investors to give him support in his efforts to stir change at American corporations, according to TheDeal.com.
His plea asked investors to oppose anti-takeover provisions such as poison pills and staggered boards at companies. “It’s a shame that you people who have key votes don’t undestand how bad the situation is,” said Icahn. “It’s really pathetic out there because you have CEOs who earn 400 times what the agerage worker earns. You hate to say it, but it’s really stealing with all these boondoggles going out there.”
In a discussion with reporters after his remarks, Icahn said he was upset that the Securities and Exchange Commission hasn’t approved a rule that would allow investors to nominate one or two candidates on company ballots.
Icahn’s efforts in a proxy fight at Motorola come only months after he lost a campaign last year to elect a director candidate to the company’s board. The drive, though, fell short by a few hundred-million votes.
Meanwhile, the activist this week also said he is starting a blog to discuss ideas on corporate governance, a topic on which he has strong opinions.
The blog, www.icahnreports.com, will be a forum where readers can comment on or present ideas and Icahn, who has a long history of stirring for change at companies, will respond.
“This country is losing its economic hegemony,” Icahn said in a corporate governance conference in