“Greenlight Capital and David Einhorn’s victory against Apple in Federal District Court in Manhattan is a small one, serving only to highlight the bizarreness of the entire fight,” Steven M. Davidoff writes for The New York Times. “The odd thing is that the result is actually more of a win for Apple than Mr. Einhorn, and the outcome will probably have a bigger effect on other companies.”
“The bottom line is that, given how this disrupts the ability of a company to amend its charter, the S.E.C. will probably have to clarify things,” Davidoff writes. “If a company now decides to completely rewrite its charter, will every term now have to be broken out for a separate vote? What a hassle.”
Davidoff writes, “Apple really is getting what it wants – which is to not have to add majority voting for directors. And instead of being labeled bad for shareholder governance, the company can blame Mr. Einhorn. If you are shaking your head at this point, so am I. But that is what it’s like in the age of celebrity hedge funds.”
Read more in the full article here.
Fuck the inept SEC and cheeky little Einhorn. Hedge funds have stolen the goose that lays the golden eggs. We need justice.
+++++++++++++ America should bring back public hangings. Specifically, hedge fund mongrels & short manipulators who are in bed with the SEC. Jesus, there was a day when horse thieves were hung on the SPOT! These market manipulators are worse than those horse thieves! They get a time out and a slap on the wrist. When are they are EVER called out on insider trading. What a JOKE!
We’ll settle for prison and a chain gang assignment.
*DING* X ∞
Our Corporate Oligarchy wasn’t so incredibly inept and abusive. That they’d attempt to damage and demolish the best of their peers, Apple, demonstrates their innate self-destructive imperative. Well done Einhorn dumdum.
ERROR correction. My editing sucks today. Please read:
“Our Corporate Oligarchy IS so incredibly inept and abusive.”
Where’s my coffee?
For every action there is an equal but opposing action.
“One wishes Apple could be allowed to go back to doing what it does best – making money by making things – instead of being caught up in Wall Street’s machinations.” Amen! Except that Einhorn and his ilk do not see long term – they are short term thinkers and manipulators. Onto the Carnival Cruise with the whole bunch!
Carnival Cruise in the Middle of the Pacific Ocean
I think you meant bottom of the Pacific Ocean, no ?-)