McDonald's Could Be The Next Target Of Activist Investors
With sliding sales, problems around the world, and a CEO dropped after less than three years on the job, pressure is mounting. Some believe the Big Mac could soon be a target for activist investors, who enjoyed a string of victories last year.
Hedge Fund Manager Takes A Bold Stand Against Long Lines At Airports
Prominent investor Whitney Tilson did not like his experience with the Hertz counter at the San Francisco airport, so he did something about it. Here's a look at how a few complaint emails from a "well-known shareholder" gets results.
Walgreens Is Battling Its Former Finance Chief, And It's Getting Ugly
The drug store behemoth is out to acquire all of the UK's Alliance Boots, forming one of the world's largest pharmacy companies. But its former CFO just lobbed serious accusations at the company, which has left it scrambling to clean up its image.
How Bill Ackman Made The Trains Run On Time In Canada
Pershing Square Capital has orchestrated one of the biggest turnarounds in railroad (and, arguably, corporate) history. Now, as the question of rail mergers looms large, here's a look back at how the hedge fund pulled it off and raked in billions.
Exclusive: Olive Garden Server Representing Restaurant's Employees Says "Things Need To Change"
As the heated battle between Darden Restaurants and hedge fund Starboard Value comes to a head, an Olive Garden employee representing the restaurant's workers spoke exclusively to BuzzFeed News about what life at the chain is really like. "There are things that need to change."
Every Member Of Olive Garden Owner's Board Should Be Replaced, Says Adviser
One of two leading leading proxy advisory firms has recommended shareholders of Olive Garden parent Darden replace the entire board with activist hedge fund Starboard Value's slate of 12 nominees. The news comes as Starboard is preparing to meet with Darden employees who have threatened direct action ahead of next month's annual shareholder meeting.
Olive Garden Owner Defends Breadstick Strategy As Conveying "Italian Generosity"
Four days after an activist hedge fund released an eviscerating analysis on the state of Olive Garden restaurants, claiming it was giving away too many breadsticks and doesn't salt the water before cooking its pasta, among other things, parent company Darden responds.
John Oliver Makes An Olive Garden Commercial From Hedge Fund's Powerpoint Presentation
Starboard Value's meticulously detailed takedown of Olive Garden, which claims the restaurants gives away too many free breadsticks, overuses salad dressing, and doesn't salt the water before cooking its pasta, made it to Last Week Tonight With John Oliver.
Investors In Olive Garden's Parent Company Have Suffered Long Enough Declares Hedge Fund As Annual Meeting Is Delayed
The parent company of Olive Garden, Longhorn Steakhouse and other fast casual dining chains delayed its annual shareholder meeting amid allegations it was giving different information out to different classes of investors regarding the sale of Red Lobster. Activist investor Starboard Capital isn't happy with the move.
Anonymous Documents Sent To Hedge Fund Back PetSmart Into Likely Sale
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
Darden Chairman And CEO Will Step Down As Red Lobster Sale Closes
Darden Restaurants announced late Monday that CEO Clarence Otis will be stepping down after 10 years with the fast casual dining giant. His departure follows the company's sale of Red Lobster to private equity firm Golden Gate Capital.
Darden Sees Profit Drop 35% After Red Lobster Sale Announcement
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 "a year of transformation."
How The Owner Of JDate And Christian Mingle Lost At The Business Of Love
Spark Networks, owner of JDate, Christian Mingle, and other dating websites, is facing a fierce activist campaign by the hedge fund Osmium Partners, which is looking to unseat the board and force a sale of the troubled company.
How Red Lobster Got Trapped Between Its Parent Company And Activist Investors
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company's annual meeting later this year.
Trian Partners, Like Other Giant Hedge Funds, Is A Big Fan Of The Mystery Stock
Nelson Peltz's giant hedge fund is currently holding a position that makes up 11% of the entire $5.8 billion fund's portfolio, but has not had to reveal what the name of the stock is, even after the quarter's filing deadline has passed. This isn't the first time the SEC has allowed the fund, as well as other large managers, to withhold a major filing, and some smaller activist hedge funds are questioning the fairness of the practice.
The "Poison Pill" Defense Has Its Day In Court
Shareholder rights plans, commonly called "poison pills" because they limit the amount of stock an investor is able to acquire, are increasingly being used by companies against activist investors. But hedge fund manager Dan Loeb is mounting a court challenge to its relevancy in his battle against auction house Sotheby's.
Martyrs, Naysayers, And New Blood: How To Build The Best Corporate Board
As interest in sitting on a corporate board builds along with activist investing, it’s becoming increasingly important that companies select the best directors. Industry experts discussed what makes the best candidates at an IPO preparedness event today at the New York Stock Exchange.
eBay Fires Back At Icahn, Calls Him A Distraction
The company is imploring shareholders to vote against Icahn's proposal to spin-off PayPal and appoint two board members at its upcoming annual meeting, and calling out Icahn's personal attacks and the credentials of his proposed board members. This is just the latest in a heated battle that's taken shape in the last three months.
High Cost Of Shrimp And Lack Of Customers Lead To 18% Earnings Drop For Red Lobster Owner
The company said in an earnings call Friday morning that the quarter was "challenging," especially at Red Lobster, which the company is trying to spin off. Darden's CEO also urged shareholders to communicate with the company instead of holding a special vote on the spin-off or sale that an activist hedge fund has been fighting for in recent months.
Darden Earnings Could Bring Fight Over Red Lobster Spin Off To Screaming Boil
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.