I guess these cocaine addled psychopaths feel America needs more hedge fund activism in the U.S. government. Perhaps after watching a Bernie Sander speech, deriding hedge fund managers for being scoundrel billionaires, these guys thought the best way to fight back was to become an oligarchy, by forming a lobbyist group to promote their fucking interests.
I am not kidding you.
The Council for Investor Rights and Corporate Accountability (CIRCA) announced its formation on Wednesday, saying it is committed to promoting the actions of shareholder activists, and their positive impact on corporate governance and business policies at publicly traded companies.
The Washington D.C.-based trade association said it is backed by a consortium of activist firms, but does not name them in the press release. According to a person with direct knowledge of the matter, the group’s backers are: William Ackman of Pershing Square, Carl Icahn, Daniel Loeb of Third Point, Paul Singer of Elliott Associates and Barry Rosenstein of Jana Partners.
“CIRCA was founded on the widely accepted idea that a well-functioning system of checks and balances between boards of directors and shareholders is fundamental to long term economic growth and U.S. prosperity,” CIRCA Senior Advisor Rob
Are these people serious? How delusional is Bill Ackman anyway?
At the end of the day, according to ‘CIRCA’, this country needs more Wall Street influence, green-mailers and insider trading tips for the wealthiest people in the world.
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I hope President Trump does away with this whole lobby nonsense and brings us back to the good ol’ days of bribery.
Bribery is unreliable. Members of Congress should be bought and sold in an open market.
Like NASCAR drivers, Congressmen should wear jackets with patches indicating their owners.
it is committed to promoting the actions of shareholder activists, and their positive impact on corporate governance and business policies at publicly traded companies.
…“CIRCA was founded on the widely accepted idea that a well-functioning system of checks and balances between boards of directors and shareholders is fundamental to long term economic growth and U.S. prosperity
In other words, the current system, in which small shareholders hold no power and are at the mercy of management and large shareholders, has got to go.
CIRCUS favors a system in which small shareholders still hold no power, but are a little less at the mercy of management and a lot more at the mercy of large shareholders.
Large shareholders can be a blessing if management is in need of an ass kicking.
Management was trying to sell Cedar Fair (FUN) for $11.50 to a PE firm in late 2009. A large shareholder objected and rallied shareholders to vote the deal down. Now FUN is around $58 and throws off $11.50 in dividends in 3.5 years at the current payout.
Rather than having fun trading $FUN, I suggest these bandits take a road trip to Cedar Point, and pay $FUN $100 for a day of thrills.