If we are able to conduct such a due diligence review, we believe that we may be in a position to make an offer for the entire company at a substantially increased price. |
If you just broke it up, the stock would be higher. In Time Warner, we're saying the conglomerate concept does not work. |
In life and business, there are two cardinal sins, ... The first is to act precipitously without thought, and the second is to not act at all. Unfortunately the board of directors and top management of Times Warner already committed the first sin by merging with AOL, and we believe they are currently in the process of committing the second; now is not a time to move slowly and suffer the paralysis of inaction. |
In life and in business, there are two cardinal sins, |
Investors need to understand what level of debate actually occurred. Sunlight must be shed on the board's deliberations and a full account of the details of any studies conducted should be made immediately available to investors. |
is greatly undervalued and that the company is in need of a major restructuring. |
is pretty much a sure thing. |
It is my belief that, if the proper partner were allowed to have control of AOL, shareholder value would be much more greatly enhanced than through a half-hearted joint venture that might only serve the purpose of entrenching management. |
Last year, the company's board and management claimed to act in the interests of stockholders by spinning off the tobacco business of RJR Nabisco, |
Most of the hedge funds will vote with me and there will be some transference from some of the mutual funds, although others won't go against a sitting incumbent. It's no slam dunk, but we have a better chance then the world gives us. |
Mutual funds are becoming more attuned. If you have the capital to hold out, you will win in the end. |
not comment on whether I still have an interest in General Motors or whether I will buy or sell its shares. |
particularly important at Time Warner because of the difference of opinion between many large shareholders and management concerning the direction of the company and the lack of share price performance under current management. |
practicable at this time. |
provide a very low or no possibility of a successful recovery for the bonds. |