What do Carl Icahn and Steve Schwarzman (pictured right of Icahn) have to say about the imploding economy? Thanks to Yale University, you can find out for yourself. The activist investor and Blackstone Group LP co-founder spoke at the university recently and their lectures are available on Yale's Web site. Here's a sampling:
Icahn says, "They called me a raider, an activist, but I've never changed what I do, which is building value for shareholders." He says the biggest challenge facing corporate America is weak management and that today's CEOs, with exceptions, might not be the most capable of leading global companies. Icahn also talks about his career and even teases the "Yalies," saying "I had gone to Princeton... a really good school."
While Icahn was on a big screen in the lecture hall, Schwarzman is a Yale alumn, so he showed up in person.
He talks about how interesting and dangerous the current credit crisis is. And at one point, he was asked to name good and bad deals.
On the good side,
Schwarzman highlights a PE deal with U.S. Steel Corp. in the 80s -- which he noted "was attacked by a corporate raider named Carl Icahn, who I think you have some familiarity with, being a prior speaker." Schwarzman formed a railroad partnership with that company and made 24 times his money in 12 years. On the bad side he notes a cellular deal in Argentina that happened as the country was collapsing. -
Baz HiralalSee Icahn's video or read the transcriptSee Schwarzman's video or read the transcript
Join Corporate Dealmaker's LinkedIn forum
Juergen Lasowski
And the winners are...
