Doctor Jack's Stock Medicine

[Jack Haddad]

Imcl

Jack, don't know if you've been paying attention to the IMCL story today, but C. Icahn and two other hand-picked individuals were elected to the B.O.D. Icahn immediately called for the resignation of the chairman and recommended not giving permanent C.E.O. position to the current interim C.E.O.

Icahn's really stirring the pot over there, and I think this will be to the shareholders' benefit.

Rob, Fortune magazine must have been right on the dot. I read about the possibilities you cited above last week, but shrugged at them. Anyhow, Icahn is a man that I trust a lot. He is just cleaning house. I think a lot of the old insiders have become too complacent for his taste.

Also, Fortune mentioned that IMCL might lose part of their patent to sell Erbitux-- which will make it harder for the company to sell its products abroad. The article estimates a cut of 20% in company's revenue if the ruling comes against IMCL. I personally didn't think this part of the article had any credible evidence. So, evidence of losing a patent ruling at this time is unfound. If anything, they have a great chance of FDA approval to treat pancreatic and liver cancer with Erbitux.

[Rob]

. . . If anything, they have a great chance of FDA approval to treat pancreatic and liver cancer with Erbitux.

Not to mention possibly receiving label for 1st & 2nd line CRC. That's huge.

[DSteckler]

<< Anyhow, Icahn is a man that I trust a lot. >>

I wouldn't give him the time of day. He almost destroyed ACF Industries and he did destroy TWA. Bastard.

[lemonjello]

Icahn never impressed. He was tied in with Milken and Boesky back when Milken was at Drexel Burnham.

OTOH, It'd be nice if he pushed up IMCL for a while.

<< Anyhow, Icahn is a man that I trust a lot. >>

I wouldn't give him the time of day. He almost destroyed ACF Industries and he did destroy TWA. Bastard.

[skiracer]

<< Anyhow, Icahn is a man that I trust a lot. >>

I wouldn't give him the time of day. He almost destroyed ACF Industries and he did destroy TWA. Bastard.

You're my kind of guy Dave. Tell them like it is. I agree with you 110%. He's only interested in furthering his own bankroll. I have no problem with that but not at the expense of all the small guys with their money in it. He could care less about any of it except for his money and position. He's not a builder or fortifier but a destroyer who will disassemble that company for his own benefit.

[DSteckler]

You're my kind of guy Dave. Tell them like it is. I agree with you 110%. He's only interested in furthering his own bankroll. I have no problem with that but not at the expense of all the small guys with their money in it. He could care less about any of it except for his money and position. He's not a builder or fortifier but a destroyer who will disassemble that company for his own benefit.

Like Lay and Skilling at Enron. It is possible to amass great wealth w/o wholesale destruction of companies or people - e.g., Bill Gates and Warren Buffet.

[Jack Haddad]

Tso

Bought 1 block at 52.97

[Jack Haddad]

Tso

Bought 1 block at 52.97

Sold at 53.70

[Rob]

Icahn &amp; ImClone

Ski & Dave, I understand the inherent distrust of Carl Icahn, but you guys might not be aware of just how welcome his agitation is to the stockholders at this point in ImClone's history. Last year at the annual shareholders' meeting he put a stop to more corporate raiding of the company's finances by having the exorbitant stock option awards removed from consideration. The poor governance of this company is the primary reason for its stock price being as cheap as it is, and Carl Icahn's shaking things up, I believe, is exactly what needs to happen. I'm looking forward to seeing the effects of the pressure he will bring to bear on the "suits" in this comapny. That being said, obviously there's risk of Icahn jumping ship and leaving everyone else holding the bag, so he needs to be watched for sure. But as large a stake a he has taken with his own capital, he will be extremely hard-pressed to get out quickly without taking a huge loss, and I don't think he likes the idea of taking huge losses.

[DSteckler]

Who knows a SOB better than a bigger SOB, eh?

[Lyehopper]

Who knows a SOB better than a bigger SOB, eh?

What? I don't really get this post Dave..... Just whom are you refering to as "a bigger SOB"....?

[skiracer]

What? I don't really get this post Dave..... Just whom are you refering to as "a bigger SOB"....?

Lye,
I couldn't presume that Dave was referencing Rob in any fashion.

[Rob]

I took it to mean that Carl knew exactly what the management in the company was doing, digging their greedy hands as deeply into the pot as they could. And that's exactly what was happening too.

[jiesen]

I took it to mean that Carl knew exactly what the management in the company was doing, digging their greedy hands as deeply into the pot as they could. And that's exactly what was happening too.

and this is different from every other management group exactly how? actually, (imo) it's because now there's a shareholder who not only knows what they're all about, but has the ability to do something about it. sometimes it's good to have the SOB on your side...

[Jack Haddad]

Tso

Shorted 1 block at 54.94