Icahn Enterprises halves quarterly dividend months after short-selling report, shares plunge
Months into the fallout from a damning short-selling report, shares for corporate raider and activist investor Carl Icahn’s conglomerate Icahn Enterprises have tumbled after the firm halved its quarterly dividend.
Former Trump casino where stars played goes out with a bang
The former Trump Plaza casino was imploded after falling into such disrepair that chunks of the building began peeling off and crashing to the ground. “I got chills,” Atlantic City Mayor Marty Small said. AdOpened in 1984, when Trump was a real estate developer in his pre-politics days, Trump Plaza was for a time the most successful casino in Atlantic City. AdBut things began to sour for Trump Plaza when Donald Trump opened the nearby Trump Taj Mahal in 1990, with crushing debt loads that led the company to pour most of its resources — and cash — into the shiny new hotel and casino. Trump Plaza was the last of four Atlantic City casinos to close in 2014, victims of an oversaturated casino market both in the New Jersey city and in the larger northeast.
Implosion of former Trump casino pushed back a few weeks
This July 24, 2014 photo shows the former Trump Plaza casino in Atlantic City, N.J. On Wednesday, Dec. 16, 2020, Atlantic City Mayor Marty Small announced the city will auction off the right to push the button to dynamite the former casino, which is now closed, to raise money for a local youth charity. (AP Photo/Wayne Parry) Sent from Mail for Windows 10ATLANTIC CITY, N.J. – The implosion of one of President Donald Trump's former Atlantic City casinos is being delayed by a few weeks. Atlantic City Mayor Marty Small said Thursday that the demolition company handling the job told the city the former Trump Plaza casino cannot be brought down as scheduled on Jan. 29. The city is using the demolition as an opportunity to raise funds for the Boys And Girls Club of Atlantic City. Trump Plaza opened in 1984, and was the site of numerous high-profile boxing matches that Trump, then a real estate developer, attended.
Carl Icahn: Warren Buffett's Occidental deal a 'travesty'
"The whole thing is a travesty," Icahn, who is launching an increasingly-contentious proxy war to replace four Occidental directors, told CNN Business. "She gave him a gift," Icahn said of Hollub, adding that others would have done the deal a lot more cheaply. "I certainly don't blame Warren -- I blame the OXY board and Hollub," Icahn told CNN Business, using the oil company's stock ticker. While Occidental has championed the Anadarko deal as a smart way to capitalize on the US shale oil boom, Icahn fears the acquisition is too risky. "If oil goes below $40 a barrel, the Anadarko deal could give Occidental almost an existential problem," Icahn told CNN Business.
Carl Icahn declares war over huge oil takeover
Neilson Barnard/Getty Images for New York TimesNEW YORK - Carl Icahn believes Occidental Petroleum badly overpaid for oil driller Anadarko Petroleum. Now, he wants four Occidental directors to pay for that controversial deal with their jobs. Icahn has previously expressed fear that the Anadarko deal is extremely risky because of the turbulent nature of oil prices. Icahn has proposed replacing the following Occidental directors: Spencer Abraham, Eugene Batchelder, Margaret Foran and Avedick Poladian. He noted that all of Occidental's directors were re-elected at the company's annual meeting in May, albeit with lower support than usual.