Motorola slams back at Carl Icahn
Brian White|May 3, 2007 4:31 PM
Billionaire financier Carl Icahn has a history of investing in companies where he can start exuding his influence for reform. The latest saga in Icahn's quest for corporate justice involves Motorola, where he wants CEO Ed Zander out (now). Motorola's troubles recently have been amplified in the financial media, as the company can't seem to replicate its RAZR success to save its life. The magic seems gone, and Icahn is pitching for a board seat so that he can instigate some management changes. In other words, Zander should be worried -- very worried. If the wireless giant can't return to sustainable profitability like, yesterday, Icahn may press even harder. The pressure has been so intense that Motorola recently sent an open letter to shareholders where it dissed the man (well, to a point). One thing is for sure -- Motorola is not leaving the cellphone biz for the action figure market like we were playfully guessing recently.