He did the same to the textile mills where I live. Yeah they were probably going down eventually but he sped it up and put thousands out of work.
I understand about lubricating the wheels of capitalism, creative destruction etc. I dont think what he does is evil.
I'm just trying to anticipate the effect on the stock price if he comes in. He already owns 10%. The announcement that he had increased his bid made the stock go up ~10%. His offer was 32.50/share. It looks like it will hover around 30$, at least until the board decides to make its recommendation to the stockholders. I suspect the recommendation will be AGANST electing his slate of members. Some articles have said that he wants to merge them with another truck company he owns. He has said that they are being run inefficiently and should be much more profitable. He is a pretty smart guy, so this may be true.
Assuming I'm right about the current board, the price could go down a few dollars again. My long term feeling is that the company is currently undervalued (especially if Romney wins, since military vehicles are a big part of their business).
My hunch is to stay long. Just curious about the MB geniuses opinions of an Icahn takeover.
My 300 shares dont exactly qualify me as a major player here, but I'd still like to optimize my return